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December 23, 2013 Issue:
Recent Health Care M&A Deals
Medical Devices
Acquirer
Target
Price
Valeant Pharmaceuticals
Solta Medical
$250 million
Pharmaceuticals
Torrent Pharmaceuticals Limited
Domestic formulations business
$320 million
Grunenthal GmbH
EU Rights to ZALVISO
$30 million
Physician Medical Groups
MEDNAX, Inc.
Neonatology Center of Winchester, P.C.
N/A
Rehabilitation
U.S. Physical Therapy, Inc.
Physical therapy business
$36 million
Technology Deal of the Week
Valeant Pharmaceuticals International (NYSE: VRX) made yet another acquisition last week, as it added medical device maker Solta Medical (NASDAQ: SLTM) to its portfolio for $250 million. Solta’s aesthetic devices are a natural fit with Valeant’s facial injectibles, professional skin care products and physician-dispensed products. Piper Jaffray & Co. acted as financial advisor to Solta and Fenwick & West LLP acted as legal advisor. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Valeant. ……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
Last week was a busy one in the Pharmaceutical space, as 11 transactions were announced. Of the seven that disclosed prices, the grand total was $7.1 billion. Not bad for mid-December.
Pharmaceutical Deals Announced between Dec. 16 and Dec. 20, 2013
Acquirer
Target
Price
The Bayer Group
Algeta ASA
$2.9 billion
AstraZeneca plc
BMY’s global diabetes assets
$2.7 billion
Jazz Pharmaceuticals
Gentium
$1.0 billion
Almirall, SA
Aqua Pharmaceutical Holdings
$327 million
Endo Health Solutions
NuPathe, Inc.
$105 million
Depomed, Inc.
US rights to Cambia
$48.7 million
Grunenthal GmbH
EU rights to Zalviso
$30 million
Avista Capital Partners
Vertical/Trigen Holdings
n/a
Everett Laboratories
Quinnova Pharmaceuticals, LLC
n/a
OPKO Health, Inc.
Laboratorio Arama de Uruguay
n/a
Mylan, Inc.
Rights to LAMA respiratory drug
n/a
Source: The Health Care M&A News, December 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
U.S. Physical Therapy, Inc. (NASDAQ: USPH) is on the acquisition trail this month. Last week the company announced it had paid $36 million for a 90% interest in an unidentified “physical therapy business” that includes 11 clinics and three on-site industrial client locations. This deal comes on the heels of a much smaller one announced on December 10, in which USPH paid $1.6 million for an unidentified physical therapy group with 12 clinics. ….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
ViewRay Incorporated of Cleveland, Ohio, secured $30 million in funding from existing equity investors, Aisling Capital, Fidelity Biosciences, Kearny Venture Partners and OrbiMed Advisors, as well as a new investor, Cowealth Medical Holding Co Ltd (TT: 4745). Debt financing was provided by Hercules Technology Growth Capital (NYSE: HTGC). The funds are intended to support the worldwide commercialization of the ViewRay system, designed to improve the accuracy of cancer treatments through a patented combination of simultaneous MRI and radiation therapy delivery. ….. 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.
Biotech Showcase™ 2014, January 13 -15, San Francisco, CA
Biotech Showcase™ is one of the largest annual healthcare conferences where private and small- and mid-cap biotechnology companies have an opportunity to present to and meet with investors and biopharmaceutical executives from around the world.
Now in its sixth year, Biotech Showcase 2014 is expected to feature presentations by close to 250 public and private companies and attract more than 1,500 attendees. The event will run a full program of topical plenary sessions and workshops.
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For more information and to register visit this link.
Upcoming Interactive Webcast:
Build or Join an ACO—Don’t Let The Opportunity Pass You By!
Thursday, January 23, 2014, 1:00 pm ET
A year ago, the Affordable Care Act directed doctors, hospitals, and other health-care providers—including long-term-care facilities—to coordinate care provided to Medicare patients through Accountable Care Organizations (ACOs). Timing can be tricky—urgent for post-acute care providers—and appropriate contracts are crucial. Go to http://www.levinassociates.com/conferences/1401-online-conference or call 800-248-1668 to register.
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