Brought to you by www.DealSearchOnline.com
December 2, 2013 Issue:
Recent Health Care M&A Deals
Biotechnology
Acquirer
Target
Price
SillaJen, Inc.
Jennerex, Inc.
$150 million
Managed Care
Acquirer
Target
Price
Aetna, Inc.
InterGlobal
N/A
Medical Devices
Acquirer
Target
Price
Henry Schein, Inc.
BioHorizons, Inc.
N/A
Other
Acquirer
Target
Price
Smith & Nephew plc
Certain assets of Politec Saúde
N/A
Technology Deal of the Week
Deal-making seemed to take a holiday last week, as the flow of transactions slowed to a trickle. On the technology side, Jennerex, Inc., based in San Francisco, agreed to be acquired by SillaJen, Inc., a South Korean biotech contract research company. Jennerex is a clinical-stage biotechnology company recognized for its best-in-class targeted oncolytic immunotherapies for solid tumors. Its lead asset is Pexa-Vec (JX-594), now in trials as a first-line therapy for liver cancer. The disclosed price is $150 million, including potential future milestone payments….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 holidays always make us think of home, so last week we checked into deal activity in the Home Health & Hospice sector. So far this year, there have been 32 deals in this category, compared with 33 for all of 2012. Five of those 32 deals were announced in November 2013, making it second to April’s seven HH&C deals. Public companies were the serial acquirers, led by Kindred Healthcare (NYSE: KND). With very few prices made public, however, the largest deal to date was Gentiva’s (NASDAQ: GTIV) $408.8 million acquisition of Harden Healthcare Holdings. The pace may slow a bit, given that CMS just announced its final rule on home health care reimbursement. While not as onerous as some analysts expected, it still limits earnings for these providers for the next four years:
Top Acquirers in Home, Health & Hospice Care, through Nov. 25, 2013
Acquirer
Listing
Deals
Kindred Healthcare, Inc.
NYSE: KND
5
The Ensign Group
NASDAQ: ENSG
3
Addus HomeCare Corp.
NASDAQ: ADUS
2
Almost Family, Inc.
NASDAQ: AFAM
2
LHC Group Inc.
NASDAQ: LHCG
2
Sinfonia HealthCare Corp.
Private
2
Source: The 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
Managed Care transactions, which have been few and far between this year, were goosed by Aetna Inc.’s (NYSE: AET) acquisition of InterGlobal, a U.K.-based medical insurer with more than 65,000 medical members in the Middle East, Asia, Africa and Europe. Private equity firm Alchemy Partners sold the company for an undisclosed price. The deal expands Aetna’s geographic footprint into fast-growing markets with individual, small and mid-sized business customers….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
Biotech and Pharma aren’t the only areas attracting VC attention, believe it or not. Last week came word that Boston-based Rest Services has wrapped up a $1.2 million round of financing to continue developing Mimo, its high-tech onesie for babies. Actually, it’s for their parents, who can use the cotton suit to monitor a baby’s breathing, temperature and movements from their smartphone. The funding was led by The Experiment Fund and joined by angel investors, of course… 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.
Dynamic Deal Making: New Rules, New Strategies, New Opportunities
Come to the 2014 AM&AA Winter Conference, January 21-23, Scottsdale, AZ.
As the US economy finally begins to find traction in the wake of the financial crisis, the mergers and acquisitions landscape is slowly thawing as well. Sellers, buyers and lenders – who reacted to the downturn by pulling in their oars – are starting to return to the marketplace. Smart investment bankers, private equity firms, and other deal-making professionals are finding ways to use M&A to add value for companies, investors and the economy.
You’ll hear from a diverse roster of successful dealmakers sharing their insights about current market conditions, and how to overcome the lingering obstacles to transactions. Participate in a slate of networking opportunities, including pre-scheduled one-on-one meetings and AM&AA’s famous Deal Bash networking event: Two hours of networking tabled by screened middle market Intermediaries/Investment Bankers, all bearing deals and transaction opportunities.
Visit this link for more information.
RealShare Healthcare Real Estate, December 10th & 11th, The Phoenician in 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.
Upcoming Interactive Webcast:
Technology and Senior Living: The Exciting Path Ahead
Thursday, December 12, 2013 at 1:00 p.m ET
As daunting as the constant changes in technology may appear, technological advances in the senior living/senior care sphere have been truly astonishing. Wireless communication has become ubiquitous, telehealth and telemedicine use has expanded, and non-invasive electronic sensors and warning systems keep seniors safe and healthy in their homes. The future of technology in the senior living/senior care environment, as presented by our panelists, is bound to be exciting…perhaps even amazing! Find out more from our expert panel.
Go to www.levinassociates.com/conferences/1312-online-conference or call 800-248-1668 to register.
Around the Web in Health Care M&A…Click here to see more
Webcast Calendar…Click here to see more
Upcoming Conference Partnerships… Click here to see more
