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October 21, 2013 Issue:
Recent Health Care M&A Deals
Biotechnology
Acquirer
Target
Price
Mesoblast Limited
Stem Cell Therapeutic Business
$50 million
MedImmune, Inc.
ADC Therapeutics
$20 million
MedImmune, Inc.
Spirogen
$200 million
Hospitals
Acquirer
Target
Price
Bupa
Quality Healthcare
$355 million
Medical Devices
Acquirer
Target
Price
Brookhaven Medical, Inc.
Wound Management Technologies
Merger
Technology Deal of the Week
Antibody-drug conjugates (ADCs)—a cancer drug technology that targets cancer cells—were all the acquisition rage last week. First, Novartis (NYSE: NVS) announced it secured the rights to ADC technology from ImmunoGen, Inc. (NASDAQ: IMGN) for an undisclosed amount. Then, MedImmune, Inc. (NYSE: AZN) announced it would acquire a portfolio company of Auven Therapeutics, a private equity firm based in St. Thomas, U.S. Virgin Islands. That deal, at $200 million, was for Spirogen, which develops ADCs. At the same time, MedImmune announced its $20 million collaboration with another Auven company, ADC Therapeutics, for work on two ADC programs that are now in preclinical development….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
“Bolt-ons” were the byword back in January, as the big biotech and pharma companies swore off mega-mergers and instead said they were looking for more strategic deals. So why was it “news” last week when Roche (SIX: RO) CEO Severin Schwan told an analyst call that his company preferred bolt-on acquisitions to mega-mergers? Perhaps because his company is following that philosophy. Here’s a look at the 10 biggest deals announced so far this year in the Biotechnology and Pharmaceutical sectors. See if you can find the mega-mergers.
10 Largest Biotech and Pharma Transactions in 2013, through October 18
Acquirer
Target
Price
Thermo Fisher Scientific
Life Technologies Corp.
$15.8 billion
Amgen, Inc.
Onyx Pharmaceuticals, Inc.
$9.7 billion
Valeant Pharmaceuticals
Bausch + Lomb Holdings
$8.7 billion
Perrigo Company
Elan Corporation, plc
$8.6 billion
Actavis, Inc.
Warner Chilcott plc
$8.5 billion
Biogen Idec, Inc.
Rights to Tysabri
$3.3 billion
Mylan, Inc.
Agila Specialties Private Ltd.
$1.6 billion
CFR Pharmaceuticals SA
Adcock Ingram Holdings Ltd.
$1.3 billion
Bayer HealthCare LLC
Conceptus, Inc.
$1.1 billion
Aspen Group
Merck’s API business
$1.0 billion
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
Fortis Healthcare is selling Quality HealthCare Medical Services, the largest private clinic network in Hong Kong. The lucky buyer is Bupa, the London-based international healthcare group, which agreed to pay $355 million for Quality’s 50 medical centers, more than 500 affiliated clinics, and more than 20 dental and physiotherapy centers. JP Morgan and Religare Capital Markets acted as advisors to Fortis in this transaction, which is expected to close by the end of October…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
MedImmune, Inc., the biotech arm of AstraZeneca plc (NYSE: AZN), was busy this week. Besides its deals for two companies in Auven Therapeutics’ portfolio, its venture capital unit, MedImmune Ventures, led a Series A financing of $12.5 million for G1 Therapeutics, Inc. G1’s lead clinical candidate is a proprietary, potent and selective cyclin-dependent kinase (CDK) 4/6 inhibitor for the potential treatment of chemotherapy-induced myelosuppression. Co-investors include Hatteras Venture Partners and Mountain Group Capital…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.
7th Annual HCap Healthcare Services & Capital Conference, December 4-6, 2013, JW Marriott, Washington, D.C. (Special Offer for HCDN readers – save additional $200 off Early-Bird rate!)
Strategy, Policy, Capital and M&A for the Healthcare Continuum – Healthcare’s best and brightest from LTC & Senior Living; Home Care and Hospice; Hospitals and Health Systems; and Physician and Medical Groups will gather in Washington, D.C. to share experiences, look ahead to 2014’s changes, and to meet with Capital.
Register today to:
Participate in interactive discussions with healthcare’s cutting-edge innovators, top policy makers and Wall Street analysts.
Meet leading lenders, iBanks, PE firms, M&A firms and other financial advisors to discuss capital for growth or acquisition purposes.
Discuss potential acquisitions and divestitures with other providers.
Engage C-Level thought leaders to share perspectives and business models and explore potential partnerships.
For more information and to register: www.hcapconference.com (Use the code HCAPDN to save $200).
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