In the July 2006
issue:
Consumer Health and Generic Drug Companies Targeted in June
Johnson & Johnson is paying $16.6 billion for Pfizer’s consumer health
unit. What is a strategic deal for JNJ turns out to be an opportunistic one
for Pfizer. A bidding war heats up as Barr Pharmaceuticals offers $2.3
billion for Pliva Pharmaceuticals. How much will Actavis’ interest in the
Croatian generic firm drive up the price?
...
The Second Quarter Health Care M&A Market
The second quarter saw 263 deals in the health care industry worth a
combined total of $65.8 billion. The first half of 2006 recorded 500 deals
worth a total of $108.1 billion.
...
In The Departments
Services
-
Health Care Services
-
Deal Summaries
-
Additional Transactions
-
Transaction Updates
Technology
-
Health Care Technology
-
Deal Summaries
Additional Transactions
-
Transaction Updates
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Articles Archive
Companies Mentioned in this issue:
July 2006
A
Actavis Group, h.f. p10
Affymax p12
Almost Family p3
Amgen p11
Ascension Health p4
Aston Gardens p7
Axonyx p11
B
Babson Capital Management, LLC p8
Banc of America Securities, LL p11
Banc of America Securities, LLC p11
Baptist Health Care System p3
Baptist Home Health Care p3
Barr Pharmaceuticals p10
Bayer AG p9
Blackstone Group p8
Block Drug p9
Boots Healthcare International p9
Boston Scientific p9
C
CareMore Health Plan p8
Carolina Vital Care p3
Carondelet Health Network p4
Celera Genomics p11
Centennial Healthcare p4
Children’s Memorial Hospital p8
Cigna HealthCare p8
Community Health Systems p4
D
Deutsche Bank p8
DLJ Merchant Banking Partners p8
E
Epsilon Healthcare p4
F
Focused Health Solutions p8
Formation Capital p4
G
GE Healthcare Financial Services p4
Gentiva Health Services p3
GeriNet Physician Services p8
Gillette p9
GlaxoSmithKline p1
Glenwood Regional Medical Center p3
Goldman Sachs Capital Partners p8
Greenstone Ltd. p10
Guidant p9
H
Harrington Healthcare p4
HealthMarkets p8
HMS Holdings Corp. p11
Hospital Service District No. 1 p3
I
Iasis Healthcare p3
ICORE Healthcare p8
Intermagnetics General Corporation p12
Ivax Corp. p10
J
Janssen Pharmaceutica NV p12
Johns Hopkins Health System p3
Johnson & Johnson p1
JPMorgan Partners p8
L
Laurel Healthcare p4
Lazarus House Hospice p3
Lehman Brothers p11
LHC Group p2
Lifeline Home Health Care p2
Linden, LLC p8
M
Magellan Health Services p8
McClellan Health p7
MedCath p4
Merck KGaA p11
Merrill Lynch Capital p8
Mineral Area Regional Medical Center p4
Mitsubishi Pharma p12
Mount Washington Pediatric Hospital p3
N
NeuTec Pharma PLC p11
New Beacon p3
Novartis AG p11
O
Opis Health Services p4
P
PacifiCare Health Systems p8
Pfizer p1
Pharma Bio-Research p8
Piper Jaffray & Co. p11
Pliva Pharmaceuticals, d.d. p10
Pliva Research Institute p10
PRA International p8
Proctor & Gamble p9
Public Consulting Group p11
R
Reckitt Benckhiser p9
Renal Advantage p4
Riverside Health System p4
Riverside Hospital p4
Roche Holding p9
Rose Arbor p7
Royal Philips Electronics p12
S
Schering p11
Sepracor p10
Siemens AG p12
Sovereign Health Services p4
St. Vincent’s Hospital p3
Star HRG p8
Sunrise Senior Living p7
T
Takeda Pharmaceutical Co. Ltd. p12
Tenet Healthcare Corp. p4
Teva Pharmaceuticals p10
Texas Pacific Group p3
Tibotec Pharmaceuticals, Ltd. p12
TorreyPines Therapeutics p11
Trilogy Health Services p7
Tucson Heart Hospital p4
U
University of Maryland Medical System p3
V
Ventas p7
Vertex Pharmaceuticals p12
W
Warm Springs Rehabilitation System p8 |
The Second Quarter Health Care M&A Market
Email Editor
The health care industry saw a total of 263 mergers and acquisitions
announced during the second quarter of 2006, up 11% from the 236
transactions announced in the prior quarter, Q1:06 and up 15% from the 228
deals announced in the year-ago quarter, Q2:05.
The four sectors of the health care technology segments posted a total of
147 deals, or 56% of the quarter’s total, with the nine sectors of the
services segment accounting for the remaining 44%. This reverses their
relative positions from the first quarter of 2006 when the services
segment accounted for the majority (54%) of deals announced.
Medical Devices produced the greatest number of deals, 46, of any single
sector, followed by Pharmaceuticals with 39 and Biotechnology with 33.
Taken together, these three accounted for 45% of the quarter’s total deal
volume. Among the services sectors, Long-Term Care posted the highest
numbers, 22 deals. At the other end of the spectrum, the Rehabilitation
sector managed to eke out just one deal. The number of deals in each
sector, as well as their percentage contribution to the total, appears in
the table on the opposite page.
Based on prices revealed to date, a total of $65.8 billion has been
committed to fund all this M&A activity. This figure reflects a 56%
increase over the $42.2 billion spent in the prior quarter and a 254%
increase over the $18.6 billion spent in the corresponding year-ago
period.
As might be suspected, the technology segment grabbed the lion’s share of
dollar volume during the second quarter, $54.5 billion, or 83% of the
total amount. Medical Devices accounted for $27.2 billion of the dollars
spent, followed closely by Pharmaceuticals with $22.4 billion.
A total of 13 billion-dollar
deals were announced during the second quarter, with 10 in the technology
segment and three (all in Long-Term Care) in the services segment. They
have a combined total of $54.2 billion, or 82% of the quarter’s total.
During the first half of 2006 a total of 500 deals were announced with a
combined total value of $108.1 billion. So far this year, there have been
17 billion-dollar deals, worth a combined total of $83.1 billion.
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