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November 11, 2013 Issue:
Recent Health Care M&A Deals
Medical Devices
Acquirer
Target
Price
EOS Imaging
OneFit Medical
$5.36 million
Pharmaceuticals
Acquirer
Target
Price
Roche
Rights to Antibiotic
$38.85 million
Granules India Ltd.
Auctus Pharma Ltd.
$19.2 million
Eli Lilly
Rights to Tanezumab
$200 million
Other
Acquirer
Target
Price
U.S. HealthWorks
Urgent Medical Care Center
N/A
Technology Deal of the Week
Endo Health Solutions Inc. (NASDAQ: ENDP), a specialty healthcare company, has found another target. On November 5, Endo agreed to pay $1.6 billion for Paladin Labs Inc. (TSX: PLB.TO), another specialty pharmaceutical company based in Montreal, Quebec. After closing, Endo shareholders will own 77.5% of the shares in the New Endo, while Paladin shareholders will hold 22.5%. Back in August, Endo paid a more modest $225 million for Boca Pharmacal, a specialty generics company in Coral Springs, Florida. ..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
The Medical Devices industry made headlines during the government shutdown in October. Specifically, the 2.3% excise tax was bruited about as a bargaining chip toward reopening the federal government. That would certainly help the industry, which is seriously lagging its M&A performance in 2012. Our database shows there were 123 transactions announced in the first 10 months of 2012, for a combined total of $20.2 billion. Not surprisingly, there have been just 86 deals announced from January through October, 2013, for a combined total of just $9.6 billion. Here are the top 10 deals of this year, so far.
Top 10 Medical Device M&A Transactions, Jan. through October 2013
Acquirer
Target
Price
Kohlberg, Kravis Roberts & Co. LLP
Panasonic Healthcare Co., Ltd.
$1.67 billion
Stryker Corporation
MAKO Surgical Corp.
$1.65 billion
Bayer Healthcare LLC
Conceptus, Inc.
$1.1 billion
Kinetic Concepts, Inc.
Systagenix
$485 million
Argon Medical Devices
Angiotech’s interventional products business
$362.5 million
Abbott Laboratories
IDEV Technologies, Inc.
$310 million
Radiometer Medical ApS
HemoCure
$300 million
Microport Medical B.V.
OrthoRecon business
$290 million
Cynosure, Inc.
Palomar Medical Technologies
$287 million
Boston Scientific Corp.
Bard EP
$275 million
Source: Health Care M&A News, November 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
It isn’t every week—or even every month—that we get news of a major Home Health & Hospice deal. Last week came a welcome surprise from Kindred Healthcare, Inc. (NYSE: KND), which purchased Senior Home Care, Inc. of Clearwater, Florida for $95 million. Senior Home Care operates through 47 locations in Florida and Louisiana. Kindred operates 10 Transitional Care Hospitals within Senior Home Care’s service areas in Florida. In Louisiana, it has one Transitional Care Hospital and five hospital-based acute rehabilitation units…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
ImmunGene, Inc., a biotech firm focused on developing antibody-cytokine fusion technology therapies to treat cancer, secured $9 million in a milestone-based Series A financing from Ally Bridge Group. Previous investments in the company were converted into Service A preferred stock. ImmunGene will used the capital to advance its early-stage development products to IND-enabling studies. The company also received several patents from the U.S. Patent and Trademark Organization and International Patent organizations covering the antibody-interferon fusion technology that helps interferon to target the tumor cells and overcomes dose-limiting toxicity. .. 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.
11th Annual World Health Care Congress (WHCC), April 7 -9, 2014, National Harbor, MD
The 11th Annual World Health Care Congress (WHCC), taking place April 7 -9, 2014 in National Harbor, MD (just outside of Washington, DC) convenes decision makers from all sectors of health care with the shared goal of improving quality, outcomes, and access while reducing costs. The nation’s leading organizations rely on WHCC as their annual meeting place for the discussions, collaborations, and strategies that catalyze change in the health care industry. For more information or to register, please visit www.worldhealthcarecongress.com or call 800-767-9499. Mention promo code: KBJ779 and save $200 off your registration fee.
Realshare Healthcare Real Estate Conference, Dec.10 & 11, Scottsdale, AZ
RealShare Healthcare Real Estate, produced by ALM’s Real Estate Media Group, which also produces Real Estate Forum and GlobeSt.com, will take place on December 10th & 11th at The Phoenician in Scottsdale. Join more than 300 of the healthcare real estate sector’s leaders – including players in the brokerage world, REITS, investment and finance, developers and hospital system professionals – at this full-day conference. Panel experts will discuss the most significant drivers in healthcare today and will tackle the critical issues facing the sector on a national level. And, don’t miss the ample networking opportunities we have planned, from the cocktail reception on December 10th to the various networking breaks we have scheduled during the program on December 11th
Hear what’s next for this dynamic sector. Register online now or contact Emily Lettieri at (212) 457-7765.
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