Health Care Deal News, September 2, 2014 - Top 10 Deals in August 2014

 

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September 2, 2014 Issue:

 

Recent Health Care M&A Deals

Medical Devices

   

Acquirer

Target

Price

Medtronic, Inc.

Sapiens Steering Brain Stimulation

$200 million

Orgentec Diagnostika

Corgenix Medical Corporation

$16 million

Covidien plc Sapheon, Inc. N/A
Other    
Medtronic, Inc. NGC Medical S.p.A. $350 million
DPx Holdings B.V. Gallus BioPharmaceuticals, LLC N/A

 

 

 Roche Buys InterMune 

In the biggest deal of the month (as of August 29th), Roche (SIX: RO) agreed to pay $74.00 per share, or $8.3 billion, for InterMune, Inc. (NASDAQ: ITMN), in an all-cash transaction. Based in Brisbane, California, the biotechnology company focuses on research, development and commercializing therapies in pulmonary and fibrotic diseases, which fit nicely into Roche’s current portfolio. Citi is acting as financial advisor to Roche and Davis Polk & Wardwell LLP is acting as legal counsel. Centerview Partners and Goldman Sachs are acting as financial advisors to InterMune, and Cravath, Swaine & Moore LLP is acting as legal counsel. 

 

 The 10 Biggest Health Care Deals in August

Deal makers took it easy in August, after a busy July. Our preliminary totals show 75 deals and a total of $19.3 billion. Five of the top 10 deals occurred in the Long-Term Care sector, and there was even a major transaction in the Hospital sector. Of course, Roche’s (SIX: RO) $8.3 billion bid for InterMune (NASDAQ: ITMN) kept the Pharmaceutical sector in the lead in terms of spending, but the eHealth sector showed some muscle, with Cerner’s (NASDAQ: CERN) $1.3 billion acquisition of Siemens Health Services division. More to come next week, when we can look at the entire month.

 

10 Largest Health Care Transactions in August 2014*

Rank Acquirer Target Price
1 Roche InterMune, Inc. $8.3 billion
2 NorthStar Realty Finance Griffin-American Healthcare REIT II $4.0 billion
3 Cerner Corporation Siemens Health Services $1.3 billion
4 Health Care REIT, Inc.  HealthLease Properties REIT $950 million
5 Genesis HealthCare LLC Skilled HealthCare Group, Inc.  $710 million
6 Duke LifePoint Healthcare Conemaugh Health Sytem $500 million
7 Harrison Street Real Estate  11 senior living properties $498.5 million
8 Tecomet Inc.  OEM Solutions $450 million
9 Medtronic, Inc.  NGC Medical S.p.A. $350 million
10 Health Care REIT, Inc.  11 UK seniors housing properties $257 million

* = through August 29. Source: The Health Care M&A Information Source, August 2014

 

Duke LifePoint Healthcare Acquires Conemaugh Health System 

Late last week, Pennsylvania became the 27th state to expand Medicaid under the Affordable Care Act. The week before that, Duke LifePoint Healthcare (NASDAQ: LPNT) agreed to pay $500 million for Conemaugh Health System in Johnstown. Conemaugh has three hospitals, outpatient clinics and the Conemaugh Physician Group practice. Duke LifPoint, which is a joint venture between an academic health system and a hospital operations company, committed to investing $425 million in services and facilities over the next 10 years. 

 

Mobile Health App Maker Raises $25 Million

AirStrip, a mobile healthcare applications maker, raised $25 million in a strategic funding round, led by the Gary and Mary West Health Investment Fund, Sequoia Capital and Wellcome Trust, among others. The funding will support the continued growth of the AirStrip ONE mobile tech solutions, expansion into the home health care space, internationalization and accelerated integration with analytics engines...........Click here for a free trial to The Health Care M&A Information Source and download the current issue today.

 

 

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