Health Care Deal News, May 27, 2014 - The Deal Makers at Novartis Were at it Again Last Week, It’s Only May, and Already the Managed Care sector has Recorded 10 Deals, Private Equity Firms can’t get Enough Healthcare Deals Lately

 

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May 27, 2014 Issue:

 

Recent Health Care M&A Deals
Biotechnology
   
Acquirer
Target
Price
$14.1 million
E-Health
   
N/A
Hospitals
   
Merger
Managed Care
   
N/A
Pharmaceuticals
   
$200 million                              

 

CIT knows healthcare

 

Technology Deal of the Week
The deal makers at Novartis (NYSE: NVS) were at it again last week. NVS agreed to pay $200 million upfront, plus potential milestone payments, for the exclusive rights to sell Fovista®, a potential treatment for wet age-related macular degeneration, outside the United States. Developer Ophthotech Corporation (NASDAQ: OPHT) retains the U.S. marketing rights. Fovista is the most advanced anti-PDGF technology in development. If approved, it is expected to be first-to-market in this class of therapies.........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
It’s only May, and already the Managed Care sector has recorded 10 deals. That doesn’t sound like a lot, compared with other health care sectors such as Long-Term Care, which had 60 deals in just the first quarter of 2014. But looking back at 2013, the Managed Care sector posted a total of 15 deals. Things could be heating up in this category, as rumors flew late last week that Ascension Health, the largest non-profit U.S. health system, was in talks to acquire an unidentified insurance company that operates in 18 states. It could be a busy year. 

 

Managed Care M&A Transactions in 2014, through May 23, 2014        

Acquirer

Target

Date

Stratose

PPOplus, LLC

January 17

Brent Williams

Dental Select

January 20

Stratose

Arkansas Managed Care Organization

February 4

HighMark, Inc.

Blue Cross of NE Pennsylvania

February 18

Illinois Health Partners

Northwest Community Healthcare’s PHO

February 25

Magellan Health Services

CDMI, LLC

April 1

Catholic Health Initiatives

QualChoice Holdings, Inc.

April 2

Guardian Life Insurance

Premier Access Insurance Co.

April 9

Summit Partners

MDVIP

May 2

Pharos Capital Group, LLC

Employee Benefit Solutions

May 21

Source: The Health Care M&A News, May 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

 

Services Deal of the Week
Private equity firms can’t get enough healthcare deals lately. Last week, Metalmark Capital Holdings LLC  chose Clayton, Dubilier & Rice LLC and its $910 million bid for Healogics Holding Corp., the largest advanced wound care services provider in the United States. Back in January, Metalmark hired Goldman Sachs Group (NYSE: GS) to explore a sale of Healogics, with a $1 billion price tag. Reuters reported that other major PE firms such as TPG Capital LP and a consortium of Ares Management LP (NYSE: ARES) and Leonard Green Partners LP, were also in the auction process........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
Mobile health is still red-hot for VC firms. Last week, Mango Health announced a $5.25 million round of Series A financing, led by Kleiner Perkins Caufield & Byers. Mango Health operates an enterprise platform that uses mobile software to engage patients and improve rates of adherence to prescribed treatment regimens, and its first consumer product, an iPhone app, is available in Apple’s App Store. The company has partnered with some of the largest entities in healthcare, including “a leading U.S. integrated care delivery system, a national pharmacy benefit manager and a top U.S. health plan.” ........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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