Health Care Deal News, March 11, 2013 - The Pharmaceuticals Category Woke up in February, Allscripts (NASDAQ: MDRX) was on the Acquisition Trail Last Week as it Announced a $235 Million Bid for Privately Held dbMotion, Ltd

 

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March 11, 2013 Issue:

 

Recent Health Care M&A Deals

BIOTECHNOLOGY

 BioReliance

 Rights to Big Blue Colonies and Cell Lines

 N/A

E-HEALTH

Acquirer

Target

Price

 Allscripts

 dbMotion, Ltd.

$235 million

NetDimensions

eHealthcareIT

$3.5 million

Acquirer

Target

Price

 Health Management Corporation of America

 Health Diagnostics Management, LLC

 $34.4 million

MEDICAL DEVICES

Acquirer

Target

Price

 TranS1 Inc.

 Baxano, Inc.

 $23.6 million

 

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Service Deal of the Week
HCMA, a subsidiary of Fonar Corporation (NASDAQ: FONR), announced it had paid $34.4 million for a majority interest in a new company, Health Diagnostics Management, LLC, a national provider of outpatient diagnostic imaging services, including 12 Stand-Up® MRI centers, in New York and Florida.  HCMA manages 11 Stand-Up® centers, so the combined company now forms the largest U.S. network of  Stand-Up® MRI imaging centers with a total of 23. Fonar, it should be noted, is The Inventor of MR Scanning™, so the deal is naturally expected to bring economies of scale, joint marketing strategies and benefits from sharing administrative and technical expertise........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.

 

Charted Territory
The Pharmaceuticals category woke up in February, as strategic deals were made for some pharma companies and the rights to several successful drugs changed hands. The biggest deal was for $3.25 billion for Tysabri, which Biogen Idec (NASDAQ: BIIB) developed in partnership with Elan Corporation (NYSE: ELN). The $1.6 billion all-cash bid made by Mylan, Inc. (NASDAQ: MYL) for Agila Specialties Private Limited provides for an additional $250 million in potential payments, subject to the satisfaction of certain conditions made by Agila’s owner, Strides Arcolab Limited (NSE: STAR). Rosemont Pharmaceuticals, which makes specialty and generic prescription drugs, found a new home with Perrigo Company (NASDAQ: PRGO), its third owner in 11 years.

 

Top Pharmaceuticals Deals, February 2013

Target

Acquirer

Price

Rights to Tysabri

Biogen Idec, Inc.

$3,250,000,000

Agila Specialties Private Limited

Mylan, Inc.

$1,600,000,000

Rosemont Pharmaceuticals Ltd.

Perrigo Company

$283,000,000

Rights to ALN-PCS

The Medicines Company

$25,000,000

Aurinia Pharmaceuticals

Isotechnika Pharma Inc.

$3,860,000

Rights to Voclosporin

Aurinia Pharmaceuticals

$1,450,000

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

 

Technology Deal of the Week
Allscripts (NASDAQ: MDRX) was on the acquisition trail last week as it announced a $235 million bid for privately held dbMotion, Ltd.  and an undisclosed amount for Jardogs LLC. The dbMotion acquisition is a natural evolution of a strategic partnership that began in 2009 and strengthened in 2011 when Allscripts made an equity investment in the company. This deal consists of $145 million in cash, $50 million of Allscripts common stock and $40 in cash via a note payable, due within 18 months. dbMotion provides clinicians with point-of-care patient information in 370 hospitals and 2,800 clinics around the world. The Jardogs FollowMyHealth patient engagement platform lets patients actively participate in their health care, particularly at-risk populations. Allscripts expects the transactions to be slightly dilutive in 2013 and accretive in 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.

 

In the Pipeline
Medical device company Nevro Corp., which focuses on improving pain relief in patients suffering from debilitating chronic pain, announced on March 7 that it had completed a $48 million Series C financing round. The funds are earmarked for Nevro’s ongoing pivotal clinical study in the U.S., to invest in clinical evidence for new indications and to support the company’s domestic and international commercialization plans. Its Senza® high-frequency spinal cord stimulation system is authorized for sale and available at leading centers in Europe and Australia. In the U.S., the system is limited by federal law to investigational use and is not yet available for promotion or sale. But $48 million should help to alleviate that situation.....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.

 

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