Health Care Deal News, March 16, 2015 - Billion-Dollar Deals Top $64 Billion

 

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Week ending March 13, 2015: 

 

Recent Health Care M&A Deals

Acquirer

Target Price
Pharmaceuticals    
Pernix Therapeutics Holdings, Inc. Zohydro® ER franchise $100 million
Epizyme, Inc. Rights to EZH2 inhibitor $40 million
Kura Oncology, Inc. License to tipifarnib  
Medical Devices    
Synaptive Medical ClearCanvas N/A
Brookhaven Medical, Inc. 2 medical device companies N/A

 

 

Endo Tries to Upstage Valeant's Bid for Salix

It’s not over until the fat check arrives. That’s the story of Salix Pharmaceuticals (NASDAQ: SLXP), which last month accepted Valeant Pharmaceuticals’ (NYSE: VRX) $10.1 billion acquisition offer. Valeant thought it had snatched victory from Shire plc (NASDAQ: SHPG) and Endo International plc (NASDAQ: ENDP), which were also readying bids for the troubled Salix. Endo apparently wasn’t daunted, and last week came back with a cash and stock bid of approximately $11.1 billion. Stay tuned. 

 

 

Year's Biggest Billion-Dollar Deals Top $64 Billion

Already in 2015, we’ve recorded 11 billion-dollar-plus deals, for a total of $64.4 billion. Thanks to the $21 billion AbbVie (NYSE: ABBV) bid for Pharmacyclics (NASDAQ: PCYC), the biotechnology sector accounted for $27.5 billion of those big deals. Pharmaceuticals, with four billion-plus transactions, still ranks first, with combined spending of $30.45 billion. 

 

Top 10 BIllion-Dollar Health Care Deals in 2015

Acquirer Target Price
AbbVie Pharmacyclics $21 billion
Pfizer Hospira $17 billion
Valeant Pharmaceuticals Salix Pharmaceuticals $10.1 billion
Shire plc NPS Pharmaceuticals $5.2 billion
Mallinckrodt plc Ikaria $2.3 bllion
Rite Aid Corporation EnvisionRx $2.0 billion
Cardinal Health Cordis $1.9 billion
Boston Scientific American Medical Systems' urology portfolio $1.6 billion
Cyberonics Sorin S.p.A. $1.2 billion
Depomed  US rights to Nucynta franchise $1.0 billion

Source: The Health Care M&A Information Source, March 13, 2015

 

 

Doc Group Acquisitions Pick Up

After a few quiet weeks with no announcements, the Physician Medical Group sector got busy. Sheridan Healthcare, a subsidiary of AmSurg Corp. (NASDAQ: AMSG), acquired Radiology Associates of Hollywood (Florida), which handles radiology services for 12 hospitals and other facilities in Broward County. US Anesthesia Partners picked up another Texas-based practice, Excel Anesthesia, P.A., which it will merge into Pinnacle Anesthesia Consultants, one of its founding partners. Then Partners HealthCare System, which was spurned by the Massachusetts Attorney General in its bid for South Shore Hospital, turned around and angered the AG once again by acquiring Harbor Medical Associates in South Weymouth, a 70-physician group with offices in eight suburban Boston locations. The MA AG doesn’t like the deal, but has no legal means to oppose it. 

 

 

NKKR Buys a Texas Air Ambulance Company

Air ambulance companies are not on most investors’ radar, yet at least one acquisition of this ancillary healthcare service pops up about once a year. This year’s deal came early, as KKR & Co. LP (NYSE: KKR) paid an undisclosed amount for Air Medical, an air ambulance company based in Lewisville, Texas. It was owned by affiliates of private equity firms Bain Capital and Brockway Moran & Partners. Last year’s air ambulance deal was announced in August, when privately held REACH Air Medical Services of Santa Rosa, California acquired Emergency Airlift Service in North Bend, Oregon. No prices were disclosed, of course. In fact, the last price we recorded for an air ambulance company was $11.9 million, paid by Emergency Medical Services Corporation (NYSE: EMS) for Air Ambulance Specialists Inc. back in June 2006.....................Click here for a free trial to The Health Care M&A Information Source and download the current issue today.

 

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