Health Care Deal News, November 3, 2014 - October's Top Health Care Deals
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|Recent Health Care M&A Deals|
|CTI BioPharma Corp.||License to tosedostat||$21.3 million|
|Triphase Accelerator Corp.||License for antibody||N/A|
|Booz Allen Hamilton||Epidemico, Inc.||N/A|
Wright Medical Group Merges with Tornier N.V.
Undeterred by the U.S. Treasury’s change in regulations regarding tax inversions, Wright Medical Group Inc. (NASDAQ: WMGI) last week announced it will merge with another orthopedic device maker, Tornier N.V. (NASDAQ: TRNX), based in Amsterdam. The all-stock transaction, valued at $3.3 billion, means each outstanding share of WMGI common stock will be exchanged for 1.0309 ordinary shares of Tornier. Upon closing, Wright shareholders will own approximately 52% of the combined company, and Tornier shareholders will own approximately 48%. Wright will re-domicile from Memphis to Amsterdam, and will change its name to Wright Medical Group N.V. Take that, Treasury.
October's Top Health Care M&A Deals
October was a busy month for deal makers, and some saved the largest deal announcements until the last week. Preliminary totals show deal volume around 130 for the month, and deal value around $29 billion. The Medical Device sector saw the biggest deals, while the Long-Term Care sector broke its previous record for number of deals, ending the month with 31 announcements. That’s a busy start to the fourth quarter, for sure.
Top 5 Health Care M&A Transactions in October 2014
|BD||CareFusion Corp.||$12.2 billion|
|Wright Medical Group, Inc.||Tornier N.V.||$3.3 billion|
|Omega Healthcare Investors||Aviv REIT, Inc.||$3.0 billion|
|Endo International plc||Auxilium Pharmaceuticals||$2.6 billion|
|Steris Corporation||Synergy Health plc||$1.9 billion|
Source: The Health Care M&A Information Source, October 31, 2014
Another $3 Billion Merger: Omega Healthcare and Aviv REIT
Big mergers were all the rage last week, as Omega Healthcare Investors, Inc. (NYSE: OHI) and Aviv REIT, Inc. (NYSE: AVIV) announced an all-stock transaction valued at $3 billion. Omega will acquire all of the outstanding shares of Aviv. Aviv shareholders will receive a fixed exchange rate of 0.90 Omega shares for each share of Aviv common stock they own. Based on the closing price on October 30th, that equates to $34.97 of Omega stock for each Aviv share. Upon closing, Omega shareholders will own approximately 70% of the new company and Aviv shareholders, together with the limited partners of Aviv Healthcare Properties Limited Partnership, are expected to own approximately 30%. Following the merger, Omega’s CEO, Taylor Pickett, will serve as CEO of the combined company and current Aviv CEO, Craig Bernfield, will join the Board of Directors.
Sorin Group Puts $20 Million into Respicardia
Sorin Group (MI: SORN), a global medical device company specializing in treating cardiovascular diseases, announced a $20 million minority investment in Respicardia, Inc., a developer of implantable therapies to improve Respiratory Rhythm Management™. Sorin also acquired the exclusive right to distribute the remedē® System for the next five years in selected countries in Europe, and an exclusive option to acquire the Minneapolis-based Respicardia in the future. Sorin’s initial investment will finance on-going clinical testing of the technology, and complements Sorin’s own therapeutic solutions for heart failure patients..........Click here for a free trial to The Health Care M&A Information Source and download the current issue today.