Health Care Deal News, August 11, 2014 - July Health Care M&A Tops $70 Billion
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August 11, 2014 Issue:
|Recent Health Care M&A Deals|
|Nordson Corporation||Avalon Laboratories Holding Corp.||$180 million|
|TheraDoc Inc.||$117 million|
|Meridian Bioscience||License for electrokinetic sensor technology||N/A|
|Global Rights to RSV drug||N/A|
|Ultragenyx Pharmaceutical Inc.||License to Triheptanoin||N/A|
Roche Holding Ltd. (OTCQX: RHHBY) has agreed to acquire Danish biotech firm Santaris Pharma A/S, for its proprietary locked nucleic acid (LNA) platform. Roche will make an upfront cash payment of $250 million to Santaris shareholders and additional contingent payments of up to $200 million based on the achievement of certain predetermined milestones. The deal is expected to close within this month.
If you thought June was a busy month for healthcare transactions, you were probably blown away in July. Although June’s 112 deals were barely topped by July’s 117, spending soared. Thanks to the Pharmaceutical sector’s combined $68 billion in total spending, July 2014 weighed in at $70.7 billion in announced mergers and acquisitions. That’s not a record, but it’s close.
July Health Care M&A, by Segment, July vs. June 2014
|Segment||July $$||June $$||Change|
Source: The Health Care M&A Information Source, August 2014
U.S. Physical Therapy, Inc. (NYSE: USPH), a national operator of outpatient physical therapy clinics, announced its second acquisition of the year, this time for an unidentified three-clinic practice. The price was $1.05 million for a business that sees approximately 10,500 patient visits per year. USPH described it as “a tuck-in acquisition” for one of its partnerships. It now operates 491 outpatient clinics in 42 states, and manages 17 PT facilities for third parties.
Cold Genesys, Inc., a clinical-stage oncolytic viral immunotherapy company in Newport Beach, California, announced it has secured Series A financing of $13.57 million from Ally Bridge Group, a global healthcare-focused investment group located in Hong Kong and the United States.Jul CGI will use the capital to advance its ongoing Phase 2/3 BOND trial, which is evaluating CG0070 in patients with high-risk carcinoma in situ non-muscle invasive bladder cancer. ..........Click here for a free trial to The Health Care M&A Information Source and download the current issue today.
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