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March 31, 2014 Issue:
Recent Health Care M&A Deals
Medical Devices
Acquirer
Target
Price
AirStrip
Sense4Baby, Inc.
N/A
North Coast Medical, Inc.
ActivaTek, Inc.
N/A
Pharmaceuticals
Vertical Pharmaceuticals, LLC
Rights to Divigel
N/A
Concordia Healthcare
Rights to Donnatal
$265.3 million
Other
Albany Molecular
Research Inc.
Cedarburg Hauser
Pharmaceuticals, Inc.
N/A
Technology Deal of the Week
Concordia Healthcare Corp. (TSX: CXR; OTCQA: CHEHF) has acquired Donnatal®, an adjunctive therapy in the treatment of irritable bowel syndrome (IBS) and acute enterocolitis. IBS affects up to 45 million people in the United States, according to the International Foundation for Functional Gastrointestinal Disorders, and is second only to the common cold as a cause of workplace absenteeism. Concordia will pay $200 million in cash and an aggregate of 4,605,833 common shares, for an approximate total of $265.3 million, to privately held Revive Pharmaceuticals. Torreya Partners and GMP Securities are acting as financial advisors to Concordia. Lazard Middle Market is acting as Revive’s financial advisor……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 first quarter of 2014 started out with a surge, but is ending with a snooze. Deal making activity largely dried up at the end of March, so it doesn’t feel premature to publish the preliminary list of Biggest Deals of Q1:2014. Although Pharmaceuticals or Biotechnology are the sectors that typically dominate the list of big spenders, there was a good mix of Long-Term Care, Medical Devices and even a Laboratories, MRI & Dialysis sector deal. Look for the Health Care M&A Report on all the first quarter deals, coming soon.
Top 10 Health Care M&A Transactions in Q1:14
Rank
Acquirer
Target
Price
1
Actavis Inc.
Forest Laboratories
$25 billion
2
The Carlyle Group
Ortho-Clinical
Diagnostics, Inc.
$4.15 billion
3
Forest Laboratories
Aptalis Pharma
2.9 billion
4
Brookdale Senior Living
Emeritus Corporation
$2.8 billion
5
Smith & Nephew plc
ArthroCare Corp
$1.7 billion
6
Mallinckrodt
Cadence Pharmaceuticals
$1.3 billion
7
GE Healthcare
Assets from Thermo Fisher
$1.06 billion
8
NorthStar Realty Finance
80 senior care facilities
$1.05 billion
9
Cinven
Medpace, Inc.
$915 million
10
Montagu Private Equity
Rexam’s healthcare units
$805 million
Source: The Health Care M&A News, March 2014
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
The nonprofit Lower Cape Fear Hospice & LifeCareCenter, based in Wilmington, North Carolina, has taken on Mercy Care, a nonprofit hospice in Myrtle Beach, South Carolina, effective April 1. Mercy Care will retain its name and brand, while several administrative and operational functions will by combined through Lower Cape Fear’s home office. Lower Cape Fear Hospice and LifeCareCenter cares for more than 600 hospice and palliative care patients in surrounding counties, while Mercy Care serves about 130 hospice and palliative care patients in its area……..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
Investing in medical marijuana isn’t just about greenhouses and rolling paper. Last week, Smart Ventures Inc. announced it had hired a fund manager to launch its initial private placement capital raise of $100 million, targeting private and public medical marijuana companies, including retail outlets, edibles, vaporizer oil and pens, cannabis tracking technology, payment processing, vending machines, production equipment, real estate related to cannabis markets and other related services. Cannabis Funding Group, Inc. is a Colorado corporation wholly owned by Smart Ventures…….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.
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