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May 27, 2014 Issue:
Recent Health Care M&A Deals
Biotechnology
Acquirer
Target
Price
Ohr Pharmaceutical, Inc.
SKS Ocular opthamology assets
$14.1 million
E-Health
Zirmed
Intelligent Healthcare
N/A
Hospitals
Northwestern Memorial Healthcare
Cadence Health
Merger
Managed Care
Pharos Capital Group, LLC
Employee Benefit Solutions, Inc.
N/A
Pharmaceuticals
Novartis
U.S. Rights to Fovista
$200 million
Technology Deal of the Week
The deal makers at Novartis (NYSE: NVS) were at it again last week. NVS agreed to pay $200 million upfront, plus potential milestone payments, for the exclusive rights to sell Fovista®, a potential treatment for wet age-related macular degeneration, outside the United States. Developer Ophthotech Corporation (NASDAQ: OPHT) retains the U.S. marketing rights. Fovista is the most advanced anti-PDGF technology in development. If approved, it is expected to be first-to-market in this class of therapies………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
It’s only May, and already the Managed Care sector has recorded 10 deals. That doesn’t sound like a lot, compared with other health care sectors such as Long-Term Care, which had 60 deals in just the first quarter of 2014. But looking back at 2013, the Managed Care sector posted a total of 15 deals. Things could be heating up in this category, as rumors flew late last week that Ascension Health, the largest non-profit U.S. health system, was in talks to acquire an unidentified insurance company that operates in 18 states. It could be a busy year.
Managed Care M&A Transactions in 2014, through May 23, 2014
Acquirer
Target
Date
Stratose
PPOplus, LLC
January 17
Brent Williams
Dental Select
January 20
Stratose
Arkansas Managed Care Organization
February 4
HighMark, Inc.
Blue Cross of NE Pennsylvania
February 18
Illinois Health Partners
Northwest Community Healthcare’s PHO
February 25
Magellan Health Services
CDMI, LLC
April 1
Catholic Health Initiatives
QualChoice Holdings, Inc.
April 2
Guardian Life Insurance
Premier Access Insurance Co.
April 9
Summit Partners
MDVIP
May 2
Pharos Capital Group, LLC
Employee Benefit Solutions
May 21
Source: The Health Care M&A News, May 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
Private equity firms can’t get enough healthcare deals lately. Last week, Metalmark Capital Holdings LLC chose Clayton, Dubilier & Rice LLC and its $910 million bid for Healogics Holding Corp., the largest advanced wound care services provider in the United States. Back in January, Metalmark hired Goldman Sachs Group (NYSE: GS) to explore a sale of Healogics, with a $1 billion price tag. Reuters reported that other major PE firms such as TPG Capital LP and a consortium of Ares Management LP (NYSE: ARES) and Leonard Green Partners LP, were also in the auction process……..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
Mobile health is still red-hot for VC firms. Last week, Mango Health announced a $5.25 million round of Series A financing, led by Kleiner Perkins Caufield & Byers. Mango Health operates an enterprise platform that uses mobile software to engage patients and improve rates of adherence to prescribed treatment regimens, and its first consumer product, an iPhone app, is available in Apple’s App Store. The company has partnered with some of the largest entities in healthcare, including “a leading U.S. integrated care delivery system, a national pharmacy benefit manager and a top U.S. health plan.” ……..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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