Health Care Deal News, June 23, 2014 - Medtronic Buys Covidien, Top 10 Health Care Deals in June 2014...

 

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June 23, 2014 Issue:

 

Recent Health Care M&A Deals
Managed Care
   
Acquirer
Target
Price
N/A
Medical Devices
   
N/A
$42.9 billion
Pharmaceuticals
   
$30 million
$80 million                              

 

Health Care Deal News Premium Edition

 

Medtronic Buys Covidien and Gets an Irish Tax Inversion
Medical device and equipment giant Medtronic Inc. (NYSE: MDT) last week agreed to acquire its Irish competitor Covidien plc (NYSE: COV) for $42.9 billion in cash and stock. Medtronic will pay Covidien shareholders $93.22 per share, which represents a 50% premium over its close on Friday, June 6, 2014. The advantages of the acquisition include market-leading positions in neurovascular technologies for treating Parkinson’s disease and strokes, as well as a much lower tax base once Medtronic relocates its headquarters from Minneapolis, Minnesota to Dublin, Ireland...........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.

 

Top 10 Health Care Deals in June 2014
It’s been a busy month for health care mergers and acquisitions. The 10 largest deals announced (so far) total a whopping $55.57 billion, and we still have a week to go before the end of the month—and the quarter. There are a few more billion-dollar deals floating out there in the ether, such as Valeant’s (NYSE: VRX) now-hostile $50.8 billion bid for Allergan (NYSE: AGN) and AbbVie’s (NYSE: ABV) spurned offer of $46.5 billion for Shire plc (NYSE: SHP). Although Pfizer (NYSE: PFE) insists it won’t revisit its last bid of $116 billion for AstraZeneca (NYSE: AZN) when the British takeover laws allow, plenty of other companies have been bitten by the M&A bug. This could be a busy summer. 
 

Top 10 Health Care Deals in June 2014 

Acquirer

Target

Price

Medtronic, Inc.

Covidien plc

$42.9 billion

Merck & Co.

Idenix Pharmaceuticals, Inc.

$3.85 billion

Ventas, Inc.

American Realty Capital Healthcare

$2.6 billion

Ventas, Inc.

29 Canadian senior living communities

$900 million

Surgery Center Holdings

Symbion Holdings Corporation

$792 million

Acadia Healthcare Co.

Partnerships in Care

$660 million

Techne Corporation

ProteinSimple

$300 million

Hill-Rom Holdings Inc.

TRUMPF Medical

$250 million

Teva Pharmaceuticals

Labrys Biologics Inc.

$200 million

Roche Diagnostics

Genia Technologies

$125 million

Source: The Health Care M&A News, June 2014

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Ambulatory Surgical Centers Attract Private Equity
Last week, Surgery Center Holdings, Inc., a.k.a. Surgery Partners, a portfolio company of H.I.G. Capital, agreed to pay $792 million for Symbion Holdings Corporation. Symbion is being sold by Crestview Partners LP, which first put the company on the market in November 2013 with a price tag of $800 million. The combined company will operate nearly 100 facilities in 27 states, including six surgical hospitals. Jeffries LLC acted as financial advisor to Surgery Partners and provided approximately $1.4 billion of debt financing for the transaction. McDermott Will & Emery and Ropes and Gray LLP acted as legal advisors to H.I.G. Morgan Stanley & Co. LLC acted as financial advisor and Waller Lansden Dortch & Davis, LLP acted as legal advisor to Symbion. Davis Polk & Wardwell LLP acted as legal advisor to Crestview Partners.........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.

 

ClearCare Raises $11 Million Series B Investment
San Francisco-based ClearCare, the leading software platform for home care agencies, announced it has raised an $11 million investment led by venture capital firm Bessemer Ventures Partners. Cambia Health Solutions also participated in the round, and was joined by existing investors Voyager Capital, Qualcomm Ventures, Harbor Pacific Capital and City National Bank........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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