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November 4, 2013 Issue:
Recent Health Care M&A Deals
E-Health
Acquirer
Target
Price
WebMD
Avado, Inc.
N/A
Hospitals
Acquirer
Target
Price
Rush University Medical Center
Rush Oak Park Hospital
$21.1 million
Medical Devices
Acquirer
Target
Price
Integra LifeSciences Holdings Corp.
Confluent SurgicalProduct Lines
$235 million
Apollo Endosurgery, Inc.
Obesity Intervention Division
$90 million
Teleflex Incorporated
Vidacare Corporation
$262.5 million
Technology Deal of the Week
The largest deal on our radar last week was the $235 million sale of Covidien plc’s (NYSE: COV) Confluent Surgical product lines to Integra LifeSciences Holdings Corp. (NASDAQ: IART). The companies expect to complete this transaction by the end of the first quarter of 2014. Covidien expects it will be several cents dilutive to fiscal 2014 earnings per share, but that will be offset by its remaining businesses…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
Preliminary data show a pickup in M&A activity in October, compared with September 2013, at least. We’re still digging, but here’s the early line on the top 10 deals for the month. The combined total of $11.2 billion bests the $9.5 billion posted by the top 10 in October 2012. However, we have approximately 90 deals recorded so far for October 2013, compared with a total of 111 a year ago. Quick take: fewer deals were done, possibly due to the shutdown of the federal government for the first two weeks of October 2013. The deals that were announced carried higher prices. We’ll see how that shakes out at the end of Q4:13.
Top 10 Health Care M&A Transactions in October 2013
Acquirer
Target
Price*
McKesson Corporation
Celesio AG
$8,300.0
Ventas
26 Holiday Retirement communities
$790.0
Pharma Strategy Partners GmbH
Acino Holding AG
$441.8
Kayne Anderson Real Estate Advisors
6 senior living communities
$400.0
Bupa
Quality HealthCare Medical Services
$355.0
PDL BioPharma, Inc.
Royalty rights to diabetes drugs
$240.5
Integra LifeSciences Holdings
Confluent Surgical product lines
$235.0
MedImmune
Spirogen
$200.0
American Realty Capital Healthcare Trust
8 senior living communities
$143.0
St. Jude Medical, Inc.
Nanostim, Inc.
$123.5
* = in millions. 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
Chartwell Retirement Residences (TSX: CSH.UN) is at it again. Last week it announced the acquisition of Cedarbrooke Chateau in Mission, British Columbia, for $27 million (Canadian). Cedarbrooke is a 138-unit retirement community that was built in 2009 and has current occupancy of 73%. The purchase offers operational synergies with a nearby 126-unit community, Chartwell Carrington House Retirement Residence….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
Calithera Biosciences, which focuses on developing novel cancer therapeutics, successfully completed a $35 million Series D financing led by Adage Capital Partners, LP. Joining Adage as new investors are the Longwood Fund and two other institutional investor groups. Existing investors Morgenthaler Ventures, Advanced Technology Ventures and Delphi Ventures also participated in the transaction. The proceeds will go toward speeding up the development of Calithera’s lead product candidate, CB-839, through Phase 1 trials….. 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.
mHealth Summit – Technology, Business, Research and Policy, December 8-11, 2013
Innovation and entrepreneurship will take center stage at the 2013 mHealth Summit, the largest global conference and expo focused on the intersection of mobile/wireless and healthcare delivery. The Venture+ Forum at the mHealth Summit, presented by HIMSS Media, is a must-attend event for VCs, investors, entrepreneurs and startups.
Taking place near Washington DC on December 8th, the Venture+ Forum will showcase transformative health information technology and explore investment opportunities to bring healthcare innovations to market. The event will spotlight new and emerging mobile health companies, showcase diverse funding sources and offer opportunities for networking with several hundred innovators and investors in mobile health and health IT. The hottest early stage and startup companies will be on hand to pitch and demo products, services, and solutions and exhibit within the Innovation Zone on the exhibit hall floor of the mHealth Summit.
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