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October 14, 2013 Issue:
Recent Health Care M&A Deals
Medical Devices
Acquirer
Target
Price
Biomet, Inc.
Lanx, Inc.
N/A
Merit Medical Systems, Inc.
Assets of Radial Assist
$2.5 million
Pharmaceuticals
Acquirer
Target
Price
Avista Capital Partners and Nordic Capital
Acino Holding AG
$441.8 million
Janssen Pharmaceuticals, Inc.
NS5A Inhibitor
N/A
Physician Medical Groups
Acquirer
Target
Price
MEDNAX, Inc.
Dayton Newborn Care Specialists, Inc.
N/A
Technology Deal of the Week
Not many deal announcements disclosed prices last week, so this one stood out: New York City-based private equity firms Avista Capital Partners and Nordic Capital teamed up to buy Swiss-based Acino Holding AG (SIX: ACIN) for $441.8 million, through their subsidiary, Pharma Strategy Partners GmbH. The price reflects a 33% premium over Acino’s closing share price on October 1, 2013, the last trading day prior to the pre-announcement of the offer, and a 53% premium to the volume weighted average price during the last 60 trading dates prior to the offer. Upon completion of the tender offer, Acino’s shares will be delisted from the SIX Swiss Exchange…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
September saw a good number of deals, which we’re still capturing in our database to include in our quarterly Health Care M&A Report. Four billion-dollar-plus deals boosted the month’s deal values considerably, to $13.3 billion in total. That’s only 41 deals with disclosed prices, out of 80 deals uncovered so far. Check our Q3:13 report for where the action was.
Top Five Health Care M&A Transactions in September 2013
Acquirer
Target
Price
Fresenius Helios
43 hospitals in Germany
$4.17 billion
KKR, Inc.
Panasonic Healthcare Co.
$1.67 billion
Stryker Corp.
MAKO Surgical Corp.
$1.65 billion
CFR Pharmaceuticals
Adcock Ingram Holdings
$1.30 billion
Otsuka Pharmaceutical Co.
Astex Pharmaceuticals, Inc.
$866 million
Source: Health Care M&A News, October 2013
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
Services Deal of the Week
The Aston Gardens portfolio, which consists of six senior living communities throughout Florida, was purchased by Kayne Anderson Real Estate Advisors of Boca Raton, Florida for $400 million. The communities are located in Naples, Parkland, Sun City, Tampa and Venice, with a total of 1,930 units. Occupancy is 97% and the units are 82% independent living and 18% assisted living. Discovery Senior Living, the manager and JV partner with GE Healthcare Finance, retained 10% ownership after the closing on October 7, 2013…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
Verax Biomedical Incorporated completed a $12 million financing that will position the company for aggressive growth in 2014, and accelerate the completion of clinical studies for an improved version of its bacterial contamination test, known as Platelet PGD. The test is currently used by more than 100 hospitals in the U.S. and Europe. The round was led by the company’s current venture capital investors….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.
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Upcoming Interactive M&A Webcast:
Assisted Living Facilities: Buying, Selling and Valuing
Thursday, November 14, 2013, 1:00 pm ET
While the senior housing acquisition market has improved, new means are needed to learn how to determine the value and how to buy and sell an assisted living facility property. What can a buyer expect in the current market? Find out more from our expert panel.
Go to http://www.levinassociates.com/conferences/1311-online-conference or call 800-248-1668 to register.
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