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June 30, 2014 Issue:
Recent Health Care M&A Deals
Biotechnology
Acquirer
Target
Price
Merck
Rights to BNC375
$20 million
Auxilium Pharmaceuticals, Inc.
QLT Inc.
$850.6 million
Cancer Genetics
Gentris Corporation
$4.75 million
E-Health
Aldridge
Clyde Bennett & Associates
N/A
Hospitals
Beaumont Health System
Botsford Health Care and Oakwood
Healthcare
Merger
CANCER GENETICS BUYS GENTRIS
Cancer Genetics, Inc. (NASDAQ: CGIX) announced its second acquisition of the year with its $4.75 million deal for Gentris Corporation, a privately held pharmacogenomics company in Morrisville, North Carolina. In May, CGIX paid $1.9 million for BioServe Biotechnologies Pvt. Ltd. in Hyderabad, India, and is trying to make good on its self-description as “an emerging leader in DNA-based cancer diagnostics.” Gentris has an FDA-compliant satellite laboratory in Shanghai, China that provides superior quality pharmacogenomics, genotyping and bioreository services to the pharma and biotech industries. The BioServe deal gave CGIX immediate entry into the high-growth molecular diagnostics and oncology services market in India. And presumably, beyond. ………..Want to read more news? Click here for a free trial to The Health Care M&A Information Source and download the current issue today.
SECOND QUARTER HEALTH CARE M&A TOPS $130 BILLION
The healthcare industry had a busy Q2 in 2014, with more than double the amount spent in the same quarter of 2013. Our preliminary data (through June 27) shows total spend in the past three months reached $131 billion. So far we’ve captured 255 deals, of which 125 had prices. The entire Q2 spend in 2013 was $52.7 billion. Deal count was comparable, at 241, of which 109 had prices. While pharmaceutical transactions made up the bulk of the billion-dollar deals, two medical device deals and one long-term care transaction made it onto the list of the quarter’s largest deals. Of course, we still have three days to go in June, as of this writing. Look for our complete findings in the July issue of Health Care M&A News.
Top 10 Health Care M&A Transactions in Q2:14
Rank
Acquirer
Target
Price
1
Medtronic
Covidien plc
$42.9 billion
2
Novartis
GSK’s oncology business
$16.0 billion
3
Bayer AG
Merck’s OTC business
$14.2 billion
4
Zimmer Holdings
Biomet, Inc.
$13.4 billion
5
Mallinckrodt
Questcor Pharmaceuticals
$5.6 billion
6
GlaxoSmithKline plc
Novartis global vaccine business
$5.3 billion
7
Sun Pharma
Ranbaxy Laboratories
$4.0 billion
8
Merck
Idenix Pharmaceuticals
$3.9 billion
9
Abbott Laboratories
CFR Pharmaceuticals SA
$3.3 billion
10
Ventas
American Realty Capital
$2.6 billion
Source: The Health Care M&A News, June 2014
Want to read more news? Click here for a free trial to The Health Care M&A Information Source and download the current issue today
BEAUMONT HEALTH IS JUST THE LATEST BIG HOSPITAL MERGER
The trend of mid-sized health systems joining together to form large health systems is going strong. Last week, two smaller Michigan systems — Botsford Health Care (one hospital) and Oakwood Healthcare (four hospitals) – reached a definitive agreement to combine their operations with Beaumont Health System (four hospitals) based in Royal Oak, Michigan. Although an announcement in March said the three had signed a letter of intent, industry watchers know that doesn’t mean a deal is forthcoming. The new Beaumont Health system will still be not-for-profit, with estimated annual revenues of $3.8 billion derived from eight hospitals and 153 other patient care sites. ………Want to read more news? Click here for a free trial to The Health Care M&A Information Source and download the current issue today.
NAVITOR LAUNCHES WITH $23.5 MILLION
Navitor Pharmaceuticals is the new biopharma on the block, having just closed a $23.5 million Series A financing that included Polaris Partners, Atlas Venture, Johnson & Johnson Development Corporation, SR One and The Longevity Fund. Navitor is developing novel medicines by targeting nutrient signaling. The funding will help it expand its drug discovery platform, including its proprietary technologies, tools and assays………Want to read more news? Click here for a free trial to The Health Care M&A Information Source and download the current issue today.
The 2014 Hospital Acquisition Report 2 for 1 Special – Preorder Today!
There’s no quicker way to get current on the hospital M&A market or review historic hospital M&A data. Learn all about today’s hospital merger and acquisition market, not just what’s covered in major media.Take advantage of our limited time two-for-one offer: Order by June 30th and receive the 2013 Edition for FREE! Go to http://www.levinassociates.com/hospital-description or call 800-248-1668 to order today.
The Health Care Services Acquisition Report, 20th Edition – Order Today!
Deals have been made. The 2014 Health Care Services Acquisition Report contains private deals in this market that are frequently too small to make it into the financial press. Order by June 30th and get a complimentary $150 of transactions in our online health care M&A database. Now that’s a deal! Go to http://www.levinassociates.com/landing/har20order or call 800-248-1668 to order today.
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