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April 14, 2014 Issue:
Recent Health Care M&A Deals
Managed Care
Acquirer
Target
Price
Catholic Health Initiatives
QualChoice Holdings, Inc.
N/A
Medical Devices
Cardinal Health
AccessClosure
$320 million
Pharmaceuticals
RestorGenex Corporation
Paloma Pharmaceuticals, Inc.
Merger
Mallinckrodt plc
Questcor Pharmaceuticals, Inc.
$5.6 billion
Sun Pharma
Ranbaxy Laboratories Ltd.
$3.3 billion
Technology Deal of the Week
As usual, the Pharmaceutical sector recorded the week’s largest deal(s). India’s Sun Pharmaceutical Industries Ltd. (BSE: 524715) made an all-stock offer for the troubled generic drug maker Ranbaxy Laboratories Ltd. (BSE: 500359) totaling $3.2 billion, which its Japanese parent Daiichi Sankyo Co. (T: 4568) was happy to accept. Then the Irish-domiciled Mallinckrodt plc (NYSE: MNK) came up with a $5.6 billion cash and stock offer for Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR) in Anahiem, California. Questcor is a biopharmaceutical company focused on difficult-to-treat autoimmune and anti-inflammatory disorders, and also provides specialty contract services to the global pharmaceutical industry. Busy week for drug deals……..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
Health care deal volume was healthy in the first quarter of 2014, at 232 deals, up 9.4% compared with the first quarter of 2013. Still, that’s not bragging much, because the first quarter of 2013 was pretty dismal for dealmakers. The Technology sector really broke out in this most recent quarter, rising 23.5% compared with a year ago, while the Services side grew by only 0.8% in the same period. For full details, check the April issue of Health Care M&A News.
Q1:2014
Sector
Deals
Services
Behavioral Health Care
3
Home Health & Hospice
6
Hospitals
12
Labs, MRI & Dialysis
10
Long-Term Care
60
Managed Care
5
Physician Medical Groups
9
Rehabilitation
2
Other
28
Services subtotal
132
Technology
Biotechnology
23
eHealth
19
Medical Devices
25
Pharmaceuticals
33
Technology subtotal
100
Grand total
232
Source: Health Care M&A News, April 2014
Source: The Health Care M&A News, April 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 typically quiet Managed Care sector has seen a few deals announced in recent weeks. In early April, Catholic Health Initiatives, the Colorado-based nonprofit, acquired QualChoice Holdings, Inc. of Little Rock, Arkansas, where it also recently acquired St. Vincent Health System. QualChoice is the parent company of QCA Health Plan, Inc. and QualChoice Life and Health Insurance Company, Inc. And last week, Guardian Life Insurance Company of America acquired the dental health insurer Premier Access Insurance Company. No financial terms were disclosed, 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.
In the Pipeline
Spinifex Pharmaceuticals, based in Melbourne, Australia, completed a $45 million Series C financing led by Novo A/S and joined by another new investor, Canaan Partners. Existing investors GBS Venture Partners, Brandon Capital Partners, Uniseed and UniQuest also participated. The new funds will be used to advance Spinifex’s lead candidate, EMA401, to further dose-ranging Phase 2 trials, and hopefully beyond, to Phase 3……..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.
Aging2.0’s inaugural Global Innovation Summit will be held on May 14, 2014 in San Francisco.
This invite-only event will bring together a select group of long-term care leaders, consumer technology executives, investors and top entrepreneurs from around the world to discuss emerging trends and new models to connect, empower and care for older adults around the world. Space is limited. Latest details will be made available at www.aging2.com/summit. Apply now!
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