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April 1, 2013 Issue:
Recent Health Care M&A Deals
HOSPITALS
Acquirer
Target
Price
Prospect Medical Holdings
CharterCare Health Partners
N/A
PHARMACEUTICALS
Acquirer
Target
Price
Shire US Holdings Inc.
SARcode Bioscience Inc.
$160 million
BioDelivery Sciences International, Inc.
Topical Clonidine Gel
$2 million
Clinigen Group plc
Cardioxane
$33 million
OTHER
Acquirer
Target
Price
American Family Care, Inc.
Doctors Express
N/A
Service Deal of the Week
HealthLease Properties REIT (TSX: HLP.UN), an affiliate of Mainstreet Property Group, is scooping up 13 senior housing and senior care properties in North Carolina, Pennsylvania and Virginia, for approximately $141.7 million. The deal includes four skilled nursing facilities, with a total of 355 units, eight combination assisted living/memory care facilities with 563 units, and one standalone memory care facility, with 60 units. Six facilities will be managed by Meridian Senior Living and seven will be managed by Saber Healthcare Group, LLC…..Want to read more news? Click here for a free trial to The Health Care M&A Information Source and download the current issue today.
Charted Territory
Even though it’s a short month, February saw a good bit of M&A activity with some sizable prices. Here are the top 10 biggest deals of February 2013. Be sure to check out our April issue of The Health Care M&A Monthly, when we present our preliminary data on Q1:2013 mergers and acquisitions.
Top 10 Health Care Transactions in February 2013
Target
Acquirer
Price
Rights to Tysabri
Biogen Idec, Inc.
$3,250,000,000
AssuraMed
Cardinal Health, Inc.
$2,070,000,000
Agila Specialties Private Limited
Mylan, Inc.
$1,300,000,000
Assisted Living Concepts, Inc.
TPG
$458,540,000
HemoCue
Radiometer Medical ApS
$300,000,000
Rosemont Pharmaceuticals Ltd.
Perrigo Company
$283,000,000
Rights to Octreolin
Roche Holding AG
$65,000,000
Two skilled nursing facilities
AdCare Property Holdings, Inc.
$28,000,000
Rights to ALN-PCS
The Medicines Company
$25,000,000
Two senior apartment communities
Care Investment Trust Inc.
$23,300,000
Want to read more news? Click here for a free trial to The Health Care M&A Information Source and download the current issue today
Technology Deal of the Week
SARcode Bioscience Inc. shareholders aren’t shedding any tears over the company’s acquisition by Shire plc. The deal includes an upfront payment of $160 million and additional, undisclosed milestone payments. SARcode attracted Shire’s attention with its Phase 3 compound, lifitegrast, now under development for the signs and symptoms of dry eye disease. Shire anticipates launching Lifitegrast in the United States as early as 2016, depending on the outcome of the Phase 3 program and FDA approval. Some 25 million Americans suffer from dry eye disease, and many more with symptoms—one of the most common complaints to eye care specialists…..Want to read more news? Click here for a free trial to The Health Care M&A Information Source and download the current issue today.
In the Pipeline
Hepatitis C doesn’t excite anyone except investors, it seems. Enanta Pharmaceuticals is hoping its pipeline of products, led by ABT-450, a critical piece of AbbVie’s Phase 3 hepatitis C program, will excite investors enough to pay $14 to $16 apiece for 4 million shares in the company. The IPO, valued at $73 million, will provide enough cash to fund Enanta, even as it gathered $189 million in partnership cash and venture funds, according to its S-1 filing. Shares will be traded as NASDAQ: ENTA….Want to read more news? Click here for a free trial to The Health Care M&A Information Source and download the current issue today.
NEW – The Health Care Services Acquisition Report, 19th Edition – Save $50
Deals have been made. The 2013 Health Care Services Acquisition Report contains private deals in this market that are too small to make it into the financial press. Take advantage of our limited time $50 instant savings offer – order The 2013 Health Care Services Acquisition Report by April 30th and receive $50 off your purchase! Now that’s a recession resistant deal. Go to http://www.levinassociates.com/hardescription or call 800-248-1668 to preorder today!
Upcoming Interactive M&A Webcast:
Hospitals: Buying, Selling and Valuing
Thursday, April 25, 2013, 1:00 pm ET
The dramatic increase in Hospital M&A activity from 2010 through 2012 accounts for a 25% increase in the number of deals made compared to the prior three-year period. That steep incline in hospital mergers and acquisitions is expected to continue in the coming years. Find out more from our expert panel: David Ertel (Moderator), Chief Financial Officer, Einstein Healthcare Network; Arnie Kimmel, Senior Vice President of Development, Prime Healthcare Services; Joseph Lupica, Chairman, Newpoint Health; and Jim Moloney, Managing Director / Co-Head of Tax-Exempt M&A, Cain Brothers.
Go to http://www.levinassociates.com/conferences/1304b-online-conference or call 800-248-1668 to register.
Conference Calendar…Click here to see more
