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June 9, 2014 Issue:
Recent Health Care M&A Deals
Behavioral Health Care
Acquirer
Target
Price
Acadia Healthcare Company, Inc.
Partnerships in Care
$660 million
Biotechnology
Bayer Pharma AG
Access to antibody technology
N/A
Roche
Genia Technologies, Inc.
$125 million
Teva Pharmaceutical Industries Ltd.
Labrys Biologics, Inc.
$200 million
E-Health
Net Health
The Rehab Documentation Company
N/A
HealthTrust
Cardiac Data Solutions
N/A
Technology Deal of the Week
Biotech startups are still big attractions for pharmaceutical companies. Last week Teva Pharmaceuticals Industries Ltd. (NYSE: TEVA) acquired Labrys Biologics, Inc., a development stage biotech company focused on treatments for chronic migraine and episodic migraine. Its most promising product candidate is LBR-1, whose (potential) peak sales Teva estimates at $2 to $3 billion. The price was $200 million in cash upfront, and up to $625 million in contingent payments upon achievement of certain pre-launch milestones. ……….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
Drugs deals have been big business this year. Of the 66 deals we’ve captured so far, 39 have announced prices, for a running total of $80.7 billion. It’s only June, and we’ve already seen 10 billion-dollar-plus deals in the Pharmaceutical sector alone. Forest Labs (NYSE: FRX), which was the acquirer in two of the current top 10, is the target in the largest pharma deal announced to date. Mallinckrodt plc (NYSE: MCK), which spun off from Covidien plc (NYSE: COV) a year ago, is on this list twice, too. This could be a very hot summer.
Top 10 Pharmaceutical Transactions in 2014, through June 6
Acquirer
Target
Price
Actavis plc
Forest Laboratories
$25.0 billion
Novartis Corporation
GlaxoSmithKline’s oncology business
$16.0 billion
Bayer AG
Merck’s OTC business
$14.2 billion
Mallinckrodt plc
Questcor Pharmaceuticals, Inc.
$5.6 billion
Sun Pharma
Ranbaxy Laboratories Ltd.
$4.0 billion
Abbott Laboratories
CFR Pharmaceuticals SA
$3.3 billion
Forest Laboratories
Aptalis Pharma
$2.9 billion
Nestle SA
Valeant’s dermatology assets
$1.4 billion
Mallinckrodt plc
Cadence Pharmaceuticals, Inc.
$1.3 billion
Forest Laboratories
Furiex Pharmaceuticals, Inc.
$1.1 billion
Source: The Health Care M&A News, June 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
Two months ago American Realty Capital Healthcare Trust (NYSE: HCT) went public. Last week, it agreed to be acquired for $2.6 billion by Ventas, Inc. (NYSE: VTR), the largest health care REIT in the country. The price includes stock, cash and assumed debt. ARC shareholders will receive the equivalent of $11.33 per share, consisting of either 0.1688 Ventas common shares or $11.33 cash for each share of ARC they own, with a maximum of 10% eligible to receive cash. Centerview Parners and UBS Investment Bank represented Ventas. JP Morgan Securities represented ARC. ………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
The Internet of Things really refers to Things Connected to the Internet, and the time is coming when not only your car and your clothing falls into that category, but your medicines, too. Last week, Proteus Digital Health, maker of wearable and ingestible devices, raised $120 million from new investors for just such a system. In fact, its Ingestible Sensor™ device has already received a CE mark in Europe and FDA market clearance in the United States. Proteus backers include The Carlyle Group, Essex Woodlands, Kaiser Permanente, Medtronic, Novartis, Otsuka, Oracle, ON Semiconductor and others…….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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