Global Healthcare Advisors’ M&A Database


Our proprietary platform provides market intelligence on M&A deals, notable developments and regulatory changes pertinent to our clients.

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Showing results 1 through 50 of 8609

Website
Vertical
Category
QTR
Year
Summary
Animal Health
Deal
Q2
2020
TSG Consumer Partners has closed its majority acquisition of Pathway Vet Alliance, which after growing earnings tenfold under the backing Morgan Stanley Capital Partners is already showing the recession resilience of vet care in the early days of the covid-19 crisis. Financial terms were not disclosed, however the transaction, signed about a month ago, was valued at approximately $2.65 billion, PE Hub reported in March. MSCP will retain a significant minority investment in Pathway alongside management. Over the last decade, medical care and wellness for pets has emerged as one of investors' favorite multi-site segments, with Pathway and peers of all sizes considered by many to be a "forever" type of asset.
Healthcare Information Technology
Deal
Q2
2020
ScanSTAT Technologies and DataFile Technologies, leading providers of Health Information Management solutions, announce the merger of the two companies - creating the largest founder-owned Release of Information company in the nation. The merger was effective Friday. The two companies will combine business operations in the coming year, employing over 800 team members nationwide. "DataFile offers an exciting opportunity for ScanSTAT to strengthen and expand its service offerings further into Document Filing, Prior Authorization and more," explains Matt Rohs, President of ScanSTAT. "The combined companies will bring unparalleled levels of compliance and security while supporting the increasing regulatory challenges faced by hospitals, clinics, patients and related consumers of health information."
Digital Health / Health Tech
Deal
Q2
2020
Raziel Health announced today that it has acquired Ideal Life, a pioneering remote patient monitoring service with 20 years of experience managing collectively over 100,000 monitored patients. Raziel Health is the world's first smart, fully integrated health care delivery system, delivered in the comfort and safety of the living room. Raziel Health has rapidly incorporated Ideal Life into its integrated delivery platform allowing physicians and health plans to engage, monitor and provide personalized care experiences 24/7 using leading-edge technologies at home. Ideal Life's remote patient monitoring technology tracks key health information from the home and transfers the data to the patient's physician, allowing for appropriate care interventions and interactions. The acquisition was effective as of March 27, 2020.
Medical Cannabis and Cannabinoids
Deal
Q2
2020
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) ("Curaleaf" or the "Company"), a leading vertically integrated cannabis operator in the United States, has completed its acquisition of three Arrow Alternative Care ("AAC" and "Arrow") dispensaries in Connecticut. Strategically placed in key metro areas, AAC has established itself as a market leader in Connecticut, operating three out of the 18 total dispensaries in the state. AAC's first store opened in Hartford in 2016, the second in Milford in 2017 and the Stamford store opened to customers in January 2020.
Real Estate Investment Trust
Deal
Q2
2020
Sabra Health Care REIT, Inc. (Nasdaq: SBRA) announced Friday that it completed the sale of two skilled nursing facilities located in Montana and leased to Genesis Healthcare, Inc. ("Genesis") for a sales price of $14.4 million, inclusive of the assumption by the buyer of an aggregate $14.2 million of HUD-insured mortgage debt encumbering the facilities.
Real Estate Investment Trust
Deal
Q2
2020
Flagship Healthcare Properties (Flagship), an outpatient healthcare real estate firm, expands its Charlotte, North Carolina portfolio with the acquisition of the Charlotte Surgery Center Ð Museum Campus. The 19,767 square foot ambulatory surgery center (ASC) is located at 2825 Randolph Road, less than 10 minutes from Uptown Charlotte and the Myers Park and Cotswold neighborhoods. The ASC was originally built in 1984, and was most recently expanded and renovated in 2019. The Charlotte Surgery Center practice was formed 35 years ago and has grown to include general surgery, gynecology, ophthalmology, orthopedic, plastic, podiatry, and urology practices, with over 50 surgeons and physicians. Surgical Care Affiliates (SCA) is the manager of Charlotte Surgery Center.
Real Estate Investment Trust
Deal
Q2
2020
Easterly Government Properties, Inc. (NYSE: DEA), a fully integrated real estate investment trust focused primarily on the acquisition, development and management of Class A commercial properties leased to the U.S. Government, announced today that it has acquired a 79,212-square foot Department of Veterans Affairs ("VA") Outpatient Clinic in Mobile, Alabama ("VA - Mobile"). VA - Mobile, part of the Gulf Coast Veterans Health Care System, is a build-to-suit outpatient clinic that was recently completed in 2018. This modern facility sits on a roughly 13-acre campus and is subject to an initial 15-year non-cancelable lease term that expires in December 2033.
Notable Developments
Q2
2020
As value-based care gains momentum in the healthcare industry with over ten million Medicare beneficiaries assigned to an accountable care organization, providers and payors are looking for new ways to move away from traditional fee-for-service models and toward some form of value-based care. Experts at the Annual Healthcare and Life Sciences Private Equity & Finance Conference in Chicago on February 19, 2020 provided insights into how value-based care is affecting payor contracting and the impacts these changes are having on private equity investors. Experts included Michelle Werr, Principal at HealthScape Advisors and Tom Goila, Partner at Comvest Credit Partners. Jessika Garis, Director at RSM US LLP, moderated the panel. Here are four key takeaways from the panel discussion.
Behavioral Health
Notable Developments
Q2
2020
In 2016, autism spectrum disorder (ASD) affected 1 in 54 (or 1.85 percent) 8-year-olds, according to the newest U.S. Centers for Disease Control and Prevention (CDC) report. This is a 10 percent increase from the most recent report two years prior when it was 1 in 59, and the highest prevalence since the CDC began tracking ASD in 2000. Consistent with previous reports, boys were 4 to 5 times more likely to be diagnosed with ASD than girls. The rate for ASD is 1 in 34 among boys (or 2.97 percent) and 1 in 145 among girls (or 0.69 percent).
Primary Care
Notable Developments
Q2
2020
The Primary Care Collaborative, in partnership with The Larry A. Green Center, just released real-time survey results of primary care clinicians (conducted March 27-30), measuring the impact of COVID-19 on their practices. "This week's survey shows that pressure on front-line clinicians is intense," said Rebecca Etz, PhD, Co-Director of The Larry A. Green Center and Associate Professor of Family Medicine and Population Health at Virginia Commonwealth University. "Practices are mostly holding on now, but in this week's survey, six in 10 clinicians said they were uncertain if their practice will be open a month from now due to the combined pressures of no PPE, clinician and staff illness, and lost income."
Healthcare Investors / Advisors
Notable Developments
Q2
2020
Deerfield Management Company, L.P. today announced the closing of the Deerfield Healthcare Innovations Fund ll, L.P., which will invest in advancements in science that may lead to important therapeutic interventions and back new technologies and infrastructure to improve the way healthcare is delivered to patients. The Healthcare Innovations Fund II will collaborate with more than 15 leading academic institutions to seed novel scientific research. The Fund also has access to innovative medtech incubators created in partnership with two medical device industry leaders.
Hospitals & Health Systems
Notable Developments
Q2
2020
Bankruptcy is one option Quorum Health Corp. is considering as the COVID-19 pandemic weighs on the already struggling for-profit hospital chain. Brentwood, Tenn.-based Quorum revealed in a Securities and Exchange Commission filing it is in talks with its debt holders regarding a recapitalization or financial reorganization transaction that may include voluntarily filing for Chapter 11 bankruptcy. The company stressed the need to grow liquidity and continue patient care and hospital operations. Quorum CEO Robert Fish said in a statement that regardless of the path forward, Quorum and its hospitals will maintain all operations without interruption. Meanwhile, the investment group Mudrick Capital Management, which owns roughly 10% of Quorum's shares, warned the company in a March 23 letter on behalf of its shareholders not to enter bankruptcy.
Digital Health / Health Tech
Notable Developments
Q2
2020
Coronavirus may have thrust the markets into a tailspin, but the impact of that economic uncertainty doesn't seem to have hit the digital health startup quite yet. During the first quarter of this year, MobiHealthNews tracked 82 funding deals totaling $2.9 billion - a staggering jump over the 49 deals and $1.4 billion collective raise of Q1 2019. It also had a small handful of late-stage, big-ticket rounds coming from a variety of business models: fitness benefits, digital pharmacies, tech-enabled primary care and telehealth, to name a few.
Hospitals & Health Systems
Notable Developments
Q2
2020
Cone Health has ended talks with Randolph Health about becoming the ultimate successor organization when Randolph Health leaves bankruptcy. The successor organization was part of a complex plan where Cone Health would eventually replace Randolph Health as the main health care provider in Randolph County. "Cone Health has completed its evaluation of a plan to work with Randolph Health on a new model of care, and we have decided we cannot be a potential successor health care organization for that community," says Terry Akin, CEO, Cone Health. "We did not reach this decision lightly, but we feel strongly that this is the best step for our organization and communities at the present time and under current circumstances."
Pharmaceuticals & Biopharmaceuticals
Notable Developments
Q2
2020
Akorn, Inc. (Nasdaq: AKRX), a leading specialty pharmaceutical company, announced that it no longer has any bids in the Sale Process that are sufficient to pay all obligations under its term loan agreement. Accordingly, the Company now toggles to the alternative milestones that were detailed in the Second Amended Standstill Agreement and are summarized in its 8-K filed last week. Doug Boothe, Akorn's President and Chief Executive Officer, commented, "Unfortunately, our sale process has been negatively impacted by the broader market uncertainties related to the COVID-19 crisis. However, we are working closely with our lenders to determine the best path forward to ensure that the Company is positioned for long-term success."
Real Estate Investment Trust
Notable Developments
Q2
2020
A US group has pulled out of a £2.5bn (Û2.8bn) bid to buy Barchester Healthcare, a nursing home group majority-owned by Irish magnates JP McManus, Dermot Desmond and John Magnier. Welltower, a New York-quoted real estate investment trust that owns healthcare properties, is understood to have dropped a bid to buy Barchester amid the global spread of the coronavirus. Neither Barchester nor Welltower responded to requests for comment last week. Barchester runs more than 200 care homes and seven registered hospitals in the UK, with more than 12,000 beds. It employs over 17,000 staff.
Digital Health / Health Tech, Pharmacy
Deal
Q2
2020
Francisco Partners, a leading technology-focused growth equity firm, has completed its acquisition of Smith Technologies, a leader in pharmacy technology and public sector software, from J M Smith Corporation. The investment by Francisco Partners will help the company accelerate its growth strategy as an independent entity. Terms of the transaction were not disclosed. As it embarks on a new chapter as a standalone business, the company will be rebranded as RedSail Technologies™. Under this new name, the company will continue to build upon decades of market leadership and will also continue to offer the same solutions under its three core product brands: QS/1®, Integra®, and PUBLIQ®.
Revenue Cycle Management
Deal
Q2
2020
R1 RCM Inc. (NASDAQ:RCM), a leader in technology-enabled revenue cycle management (RCM) services to healthcare providers, announced it has completed the acquisition of SCI Solutions, Inc. (SCI). The combination of R1 and SCI is expected to deliver enhanced value for healthcare providers by enabling them to expand digital front door strategies for their patients, improve operating efficiency, and increase capacity utilization, among other benefits. R1 has made substantial progress toward the planning of a successful integration and anticipates integration efforts to begin shortly.
Dental
Deal
Q2
2020
Align Technology, Inc. (Align) (Nasdaq: ALGN) announced Thursday that it has completed the acquisition of privately-held exocad Global Holdings GmbH (exocad), a global leader in the dental CAD/CAM software market that offers fully integrated workflows to dental labs and dental practices via a broad customer base of partners and resellers in over 150 countries. The acquisition of exocad broadens Align's digital platform reach by adding technology that addresses restorative needs in an end-to-end digital platform workflow to facilitate ortho-restorative and comprehensive dentistry. The acquisition brings exocad's expertise in restorative dentistry, implantology, guided surgery, and smile design to the Align technology portfolio. It extends Align's Invisalign and iTero digital solutions, paving the way for new, seamless cross-disciplinary dentistry in the lab and at chairside. exocad also broadens Align's platform reach in the digital dentistry with close to 200 partners and more than 35,000 licenses installed worldwide.
Hospitals & Health Systems
Deal
Q2
2020
CHRISTUS Health has announced the finalization of an agreement to bring Central Texas Medical Center (CTMC) into the CHRISTUS Santa Rosa Health System, effective Wednesday. This agreement transfers AdventHealth's prestigious San Marcos hospital and physician network over to CHRISTUS Health and further strengthens CHRISTUS Santa Rosa's regional presence. CTMC will be renamed CHRISTUS Santa Rosa Hospital-San Marcos. The hospital and many services will play a pivotal role in ensuring the ever-growing health care needs of Central Texans are met through expanded resources and innovated health care offerings.
Contract Research Organizations
Deal
Q2
2020
Frontage Holdings Corporation ( "Frontage" or "Company", 1521.HK), a contract research organization ("CRO") providing integrated, science-driven research, analytical and development services with presence in both North America and China, announced that Frontage Laboratories, Inc. ("Frontage Labs"), a wholly-owned subsidiary of the Frontage, entered into an equity purchase agreement with third party individuals. According to the agreement, Frontage Labs purchased the entire equity interest in Biotranex, LLC ("Biotranex"). Biotranex, an innovative biotech service company located in New Jersey, USA, is principally engaged in providing a broad spectrum of drug metabolism and pharmacokinetic studies for pharmaceutical and biotechnology companies.
Business Services
Deal
Q2
2020
CG Life has acquired technical marketing and scientific communications agency McDay. Acquisition talks began about a year ago, said CG Life founding partner Murad Sabzali and McDay president Susan Stipa. Together, the two agencies combine their expertise in and passion for scientific communication. "In the world of communicating science and the commercialization of science in pharma and healthcare, there are not that many agencies out there that do what we do," Sabzali said. "Many big healthcare agencies are doing great stuff in terms of launching major drug programs, but in the context of developing the drug, the discovery, preclinical, all the stuff that happens before the drug launch, that's where we have the strength."
Healthcare Supplies & Suppliers
Deal
Q2
2020
Generational Equity is pleased to announce the sale of its clients, Wave Imaging Solutions Corp. and Ultrasound Parts Source, LLC to a private investor. The acquisition closed March 10, 2020 and details were not disclosed. Located in Mentor, Ohio, Wave Imaging Solutions is an authorized GE cardio-vascular ultrasound distributor. The Company is a full-service, new and reconditioned ultrasound sales service parts company. Their certified biomedical technicians repair and recondition ultrasound systems to the highest industry standards. Wave Imaging Solutions is also a proud Sony Medical Nationwide Distributor, Mindray Ultrasound Distributor, and Alpinion Ultrasound Distributor. Ultrasound Parts Source markets to ultrasound resellers, service companies, and doctors' clinics.
Healthcare Supplies & Suppliers
Deal
Q2
2020
StatLab Medical Products, a leading developer and manufacturer of diagnostic supplies for the anatomic pathology laboratory industry, announced that it has acquired Mount Vernon, Washington-based BBC Biochemical. This investment represents StatLab's continued growth and commitment to give anatomic pathology laboratories broader access to high quality products. BBC Biochemical was founded by a pathologist close to thirty years ago to improve the quality of anatomic pathology supplies in the marketplace, and today sells to anatomic pathology laboratories and OEM partners globally.
Medical Devices
Deal
Q2
2020
Zealand Pharma A/S ("Zealand" or the "Company") (NASDAQ: ZEAL) (CVR-no. 20045078), a Copenhagen-based biotechnology company focused on the discovery and development of innovative peptide-based medicines, announces that the acquisition of substantially all assets of Valeritas Holdings, Inc. (NASDAQ: VLRX) has been completed for the cash purchase price of $23 million and the assumption of certain liabilities related to the ongoing business, pursuant to the terms of the stalking horse asset purchase agreement previously entered into with Valeritas and following approval by the U.S. Bankruptcy Court for the District of Delaware on March 20, 2020.
Pharmaceuticals & Biopharmaceuticals
Deal
Q2
2020
Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) announces the completion of its acquisition of the core assets of Icagen's North Carolina operations. As previously announced, the purchase price was $15 million in cash, and Icagen is entitled to receive additional cash payments based on certain revenue achievements. "We are very pleased to add the Icagen technologies, partnerships and this profitable business to Ligand," said John Higgins, Chief Executive Officer of Ligand. "We all know how extremely challenging the current business environment is, and I want to commend the teams on both sides who worked together to get this deal done. It's a fantastic acquisition that will enable Ligand to expand its services to current partners and drive new collaborations."
Pharmaceuticals & Biopharmaceuticals
Deal
Q2
2020
Novartis announced Thursday the mutual agreement with Aurobindo Pharma USA Inc. to terminate the agreement to sell the Sandoz US generic oral solids and dermatology businesses to Aurobindo Pharma USA Inc. This decision was taken as approval from the U.S. Federal Trade Commission for the transaction was not obtained within anticipated timelines. Sandoz will continue to operate its oral solids and dermatology business as part of the Sandoz US business.
Real Estate Investment Trust
Deal
Q2
2020
Diversified Healthcare Trust (Nasdaq:DHC) has completed the previously announced sale of four assets for a combined sales price of approximately $56 million. These sales include a portfolio of three senior living communities with a combined 599 units located in California for $47 million and a 70,229 square foot medical office property located in Austin, TX for approximately $8.8 million. These sales were part of DHC's previously announced disposition plan to sell up to $900 million of assets in connection with the restructuring of its business arrangements with Five Star Senior Living Inc.
Hospitals & Health Systems
Notable Developments
Q2
2020
Community hospitals that have fought to stay independent may be ripe takeover targets later this year as health systems assess coronavirus-related financial trauma. Hospital M&A has been robust in recent years, driven less by financial stress than by strategic initiatives to achieve geographic scale, according to Carsten Beith, co-head of health systems M&A at Cain Brothers. Dealmaking in the space dipped slightly in 2019 versus previous years. According to data from healthcare-focused boutique investment bank Ponder & Co, there were 85 announced hospital transactions last year, against 116 in 2018 and 118 in 2017. Mergermarket data show 248 transactions among healthcare providers as a whole for last year, compared with 321 in 2018 and 294 in 2017. The novel coronavirus has set hospitals of all sizes into a tailspin as providers work overtime to service an influx of patients. And independent community hospitals, many of which were under-resourced to begin with, are now in critical need of scale, said Hector Torres, a healthcare managing director at Focal Point Partners.
Telehealth
Notable Developments
Q2
2020
The concept of telemedicine, reang patients remotely via a video chat, has been around for almost two decades. Over those years, a slew of virtual care companies, including Teladoc, American Well, Doctor on Demand, MD Live nad 98point6, has emerged, each trying to convince patients to use its offerings for the treatment of such common ailments as flu, allergies and back pain. While convenient, wide-spread adoption of virtual health had been slow, this has changed drastically during the covid-19 outbreak, creating an opportunity for patients and providers to experience these services.
Health Plans
Notable Developments
Q2
2020
About 11.4 million consumers signed up for health coverage on the Affordable Care Act's exchanges in the 50 states and Washington, D.C., this year, according to data released Wednesday by the Trump administration, marking the third straight year sign-ups have remained steady. Among consumers in the 38 states that use the HealthCare.gov platform, the average monthly premium before subsidies was $595 in the 2020 open enrollment period, according to the Centers for Medicare and Medicaid Services. That marks a 3% drop from 2019. Eighty-seven percent of consumers in states that use the federal platform were eligible for subsidies that reduce premiums.
Pharmaceuticals & Biopharmaceuticals
Notable Developments
Q2
2020
Pharma deal value not only increased in 2019, but the top ten transactions announced in the first six months of last year alone reached a total value of 47% higher than the top ten deals in the first half of 2018. What's more, this is a continuation of a long-term trend. Over the last five years, the pharma sector has seen over 400 mergers and acquisitions, especially within the sub-sectors of gene therapy, immune-oncology and orphan drugs therapeutic categories.
Home Health & Hospice
Deal
Q2
2020
Bristol Hospice, a portfolio Company of Webster Equity Partners, is pleased to announce its acquisition of the Utah and California operations of Sojourn Hospice & Palliative Care ("Sojourn Hospice" or the "Company") in March. Sojourn Hospice & Palliative Care, a Healthy Living Network company, operates eight programs across Utah and California: Salt Lake City, Sacramento, Fresno, East Bay, San Jose, Modesto, Redding and San Diego. These Sojourn Hospice locations will continue to serve in these communities as Bristol Hospice. As a part of the transaction, the Healthy Living Network simultaneously acquired the home health operations of Bristol in Salt Lake City, Utah and Porterville, California. This transaction represents Bristol Hospice's third acquisition this year and ninth overall acquisition by the Bristol platform in partnership with Webster Equity Partners.
Home Health & Hospice
Deal
Q2
2020
Missouri Home Hospice, LLC, a Missouri company solely focused on post-acute home-based healthcare investments, has completed its fourth transaction in nine months by acquiring HomeCare of Mid Missouri, a 47 year old hospice and home health provider based in Moberly, Missouri. Missouri Home Hospice operates Nurses & Company (home health, hospice & private services) in the greater St. Louis area, Transitions Hospice in the Springfield/Southwest Missouri area and now HomeCare of Mid Missouri (home health and hospice) in the Columbia/Mid-Missouri area. Missouri Home Hospice is aggressively working to bring together a state-wide network of post-acute home-based providers to solve complex patient & family care needs that often arise when patients are outside of the walls of a hospital.
Telehealth
Deal
Q2
2020
Emerald Organic Products Inc. (OTC: EMOR) ("Emerald" or the "Company") a high growth diversified health science and technology company, has entered into a definitive agreement to acquire Carie Health Inc. ("Carie"), a leading telehealth and virtual care technology and service solutions company. "Founded in 2016, Carie has quickly matured into a fully-proprietary end-to-end telehealth solution capable of scaling up to lead America's transition to a more consumer friendly, virtual healthcare model," said Matt Wanderer, Founder and CEO of Carie Health. Alongside Emerald's recent acquisition of Bonsa Health, a leading digital pharmacy with same day delivery of Rx medications anywhere in the US, the acquisition of Carie Health creates an integrated healthcare technology company. This unique service combination will meet the growing demand to deliver high-quality healthcare in a virtual setting.
Hospitals & Health Systems
Deal
Q2
2020
The Boards of Trustees of Lafayette General Health (LGH) and Ochsner Health (Ochsner) have approved a Shared Mission Agreement (or definitive agreement) for LGH to merge with Ochsner and planned to sign the agreement today. Signing this definitive agreement is the next step in the process to form the most comprehensive healthcare provider in the Gulf South, focused on expanding access to high-quality care and improving the long-term health and wellness of communities across the region.
Life Sciences
Deal
Q2
2020
Curetis N.V. (in liquidation) (the "Company") announced Wednesday that the business combination between the Company and OpGen Inc. ("OpGen") has successfully been completed. The signing of the German transfer agreement implementing the transfer of 100% of the shares in Curetis GmbH to a wholly-owned subsidiary of OpGen, and the transfer to the Company of 2,028,208 new OpGen shares issued as consideration for such transfer (the "OpGen Shares") has occurred effective Wednesday.
Medical Devices
Deal
Q2
2020
OrthoPediatrics Corp. ("OrthoPediatrics" or the "Company") (Nasdaq:KIDS), a company focused exclusively on advancing the field of pediatric orthopedics, is pleased to announce that it has acquired ApiFix Ltd. ("ApiFix"), including its minimally invasive deformity correction ("MID-C") system for non-fusion treatment of progressive adolescent idiopathic scoliosis ("AIS"), for 934,768 shares of OrthoPediatrics common stock and $2 million in cash paid at closing, plus milestone payments and an earnout over a period of four years. ApiFix Ltd. is an Israel and Boston, MA based medical device company with a less invasive spinal deformity correction system for non-fusion treatment of progressive AIS. Together with vertebral body tethering, it is one of only two non-fusion technologies approved by the U.S. Food and Drug Administration under its Humanitarian Device Exemption provision.
Medical Devices
Deal
Q2
2020
Haemonetics Corporation (NYSE: HAE), a global medical technology company focused on delivering innovative hematology solutions to drive better patient outcomes, today announced that it has acquired enicor GmbH, a privately held manufacturer of a new generation whole blood coagulation testing system (ClotPro®), which is based in Munich, Germany. The ClotPro system is an innovative viscoelastic diagnostic device that offers more assays than any other hemostasis analyzer on the market. Under the terms of the transaction, Haemonetics has acquired all of the outstanding share capital of enicor GmbH.
Pharmaceuticals & Biopharmaceuticals
Deal
Q2
2020
Horizon Therapeutics plc (Nasdaq: HZNP) announced today that it has acquired Curzion Pharmaceuticals, Inc., a privately held development-stage biopharma company, and its development-stage oral selective lysophosphatidic acid 1 receptor (LPAR1) antagonist, CZN001 (renamed HZN-825). Under terms of the agreement, Horizon acquired Curzion for a $45 million upfront cash payment with additional payments contingent on the achievement of development and regulatory milestones. CZN001 was originally discovered and developed by Sanofi, which is eligible to receive contingent payments upon the achievement of development and commercialization milestones and royalties based on revenue thresholds.
Pharmaceuticals & Biopharmaceuticals
Deal
Q2
2020
Simulations Plus, Inc. (Nasdaq: SLP), a leading provider of simulation and modeling software for pharmaceutical discovery and development, today announced that it has acquired Lixoft of Paris, France. Lixoft was founded in 2011 by Jérôme Kalifa and Marc Lavielle to design software solutions based on scientific breakthroughs to reduce the cost and increase the success rate of new drug development. Pursuant to the Share Purchase and Contribution Agreement (the "Agreement") signed on March 31, 2020, and closed on April 1, 2020, Lixoft has become a wholly-owned subsidiary of Simulations Plus, Inc. ("Simulations Plus") and will continue to operate under the Lixoft name. This accretive acquisition is expected to add more than $3.5 million to the revenues of Simulations Plus in the coming fiscal year 2021.
Pharmaceuticals & Biopharmaceuticals
Deal
Q2
2020
UCB today announced that the acquisition of Ra Pharmaceuticals, Inc. has been successfully completed and Ra Pharma is now a wholly-owned subsidiary of UCB. The former Ra Pharma shareholders received US$ 48 in cash for each Ra Pharma share held at closing. Jean-Christophe Tellier, CEO UCB said: "In the last 15 months, we made several significant steps on UCB's strategic growth path, namely the "Accelerate and Expand" phase. This acquisition is a key part of this progress and an excellent strategic fit with UCB's strategy. Ra Pharma builds upon our collective strengths and talents and adds to our strong internal growth opportunities."
Pharmacy
Notable Developments
Q2
2020
While the market for middle market investments in pharmacy providers has leveled off, there are plenty of big pharma pain points that leave the door open for new solutions and growth in the industry. According to experts who spoke on a panel at the McGuireWoods 17th Annual Healthcare Private Equity & Finance Conference in Chicago on February 19, investors simply need to be willing to look more broadly to pharma-adjacent companies for new investment opportunities. The presenting experts included Mike Alberts, Vice President of Cohere Capital Partners, Kent Berkley, Vice President of Frazier Healthcare Partners, and Dexter Braff, President of The Braff Group. The panel was moderated by Richard Grant, a McGuireWoods LLP partner. Here are five key points from the panel discussion.
Healthcare Investors / Advisors
Notable Developments
Q2
2020
Ampersand Capital Partners is pleased to announce the closing of the firm's latest fund, Ampersand 2020 ("AMP-20") Limited Partnership, with $690 million in limited partner commitments. This fund, which is Ampersand's tenth fund since 1992, was significantly oversubscribed and held a single close three months after launch. With this new fund, Ampersand plans to continue the firm's strategy of making growth-oriented investments within targeted sectors of the healthcare industry. Ampersand focuses on both majority and minority investments in companies with $10 to $100 million in revenues and positive EBITDA.
Primary Care
Notable Developments
Q2
2020
Consumer use of telehealth and retail clinics spiked from 2017 to 2018, while use of urgent care centers, ambulatory surgery centers and emergency rooms dropped as consumers increasingly turn to cheaper sites of care for low-acuity medical needs. Telehealth use grew 12% and retail clinic use grew 10% during the time period, according to a new report from health cost nonprofit FAIR Health. At the same time, urgent care center use fell 11%, ambulatory surgery center use fell 12% and ER use fell 15%. However, despite increased use of telehealth and retail clinics, use of all five places of health service has slowed overall. Retail clinics and virtual care saw growth from 2013 to 2018, but at a much slower rate compared to 2012 to 2017, FAIR Health found.
Hospitals & Health Systems
Notable Developments
Q2
2020
A federal bankruptcy court has approved a health care facility's $3.7 million bid for most assets of the only hospital in a southern West Virginia county that planned to close this month. Williamson (W.Va.) Health and Wellness said in a statement Wednesday that the court accepted its proposal for Williamson Memorial Hospital in Mingo County. Williamson Health and Wellness offers services including adult and pediatric medicine, behavioral health, dental, podiatry and telemedicine. The hospital said this week it would close sometime this month because all potential buyers were health care providers whose attention was turned toward preparing their own facilities for patients of the new coronavirus. The hospital had gone into bankruptcy proceedings in February and obtained a loan to fund operations until the business could be sold. The idea was to stay open until a sale closed in early April.
Telehealth
Deal
Q2
2020
New Capital Partners (NCP), a private equity firm in Birmingham, Alabama, announces that it has partnered with TeleHealth Solution (THS), a company providing virtual medical and healthcare support for patients in hospitals and senior living facilities, based in Charlotte, North Carolina. Founded by Dr. Sam Ghannam and Dr. Jason Perlman, TeleHealth Solution is a patient and outcomes centered approach to telemedicine. TeleHealth Solution aims to improve the quality of care in Skilled Nursing Facilities (SNF), Assisted Living Facilities (ALF), and Continuing Care Retirement Communities (CCRC). With new technology and innovative health-care delivery methods via telemedicine, TeleHealth Solution provides patient-centric care and services at a fraction of the cost of an in-house physician. TeleHealth Solution now also offers telepsychiatry services for seniors.
Home Health & Hospice
Deal
Q2
2020
Council Capital, a healthcare-focused private equity firm based in Nashville, announced that it has invested in Physician Housecalls, LLC. Terms of the transaction were not disclosed. Physician Housecalls provides home-based primary care services at private residences, assisted living centers, and independent senior apartments. The company employs teams of physicians, nurse practitioners, and physician assistants who provide comprehensive, compassionate, and tailored medical care to homebound patients who are most often geriatric and/or chronically ill. Physician Housecalls is headquartered in Chickasha, Oklahoma and operates across Oklahoma and Kansas.
Hospitals & Health Systems
Deal
Q2
2020
California hospital operator AHMC Healthcare Inc. has agreed to purchase two hospital locations from bankrupt Verity Health System of California Inc. for $40 million and assume continued care over Covid-19 patients. Verity filed a motion Sunday at the U.S. Bankruptcy Court for the Central District of California, seeking approval to sell Seton Medical Center and Seton Medical Center-Coastside, both located in the San Francisco-area.
Health Plans
Deal
Q2
2020
AmeriLife Group, LLC (AmeriLife), the national leader in marketing and distributing life, health and retirement solutions, has acquired a majority interest in Jack Schroeder and Associates, LLC (JSA), an insurance marketing organization based in Green Bay, Wisc. This transaction Ð along with the recent acquisitions of Stephens-Matthews Ð further expands AmeriLife's capabilities and distribution reach to meet the Medicare and life insurance needs of America's retirees. JSA brings to the table over 48 years of Medicare brokerage experience and expert knowledge, enabling independent insurance agents access to the nation's top senior health insurance products.