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June 23, 2014 Issue:
Recent Health Care M&A Deals
Managed Care
Acquirer
Target
Price
MMI Holdings
CareCross Health Group
N/A
Medical Devices
Laborie Medical Technologies, Inc.
BUCK Elecktromedizin GmbH and
BUCKmeditec GmbH & Co.
N/A
Medtronic, Inc.
Covidien plc
$42.9 billion
Pharmaceuticals
Janssen Pharmaceuticals
License for influenza treatment
$30 million
Pfizer Inc.
Global collaboration with Cellectis
$80 million
Medtronic Buys Covidien and Gets an Irish Tax Inversion
Medical device and equipment giant Medtronic Inc. (NYSE: MDT) last week agreed to acquire its Irish competitor Covidien plc (NYSE: COV) for $42.9 billion in cash and stock. Medtronic will pay Covidien shareholders $93.22 per share, which represents a 50% premium over its close on Friday, June 6, 2014. The advantages of the acquisition include market-leading positions in neurovascular technologies for treating Parkinson’s disease and strokes, as well as a much lower tax base once Medtronic relocates its headquarters from Minneapolis, Minnesota to Dublin, Ireland………..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.
Top 10 Health Care Deals in June 2014
It’s been a busy month for health care mergers and acquisitions. The 10 largest deals announced (so far) total a whopping $55.57 billion, and we still have a week to go before the end of the month—and the quarter. There are a few more billion-dollar deals floating out there in the ether, such as Valeant’s (NYSE: VRX) now-hostile $50.8 billion bid for Allergan (NYSE: AGN) and AbbVie’s (NYSE: ABV) spurned offer of $46.5 billion for Shire plc (NYSE: SHP). Although Pfizer (NYSE: PFE) insists it won’t revisit its last bid of $116 billion for AstraZeneca (NYSE: AZN) when the British takeover laws allow, plenty of other companies have been bitten by the M&A bug. This could be a busy summer.
Top 10 Health Care Deals in June 2014
Acquirer
Target
Price
Medtronic, Inc.
Covidien plc
$42.9 billion
Merck & Co.
Idenix Pharmaceuticals, Inc.
$3.85 billion
Ventas, Inc.
American Realty Capital Healthcare
$2.6 billion
Ventas, Inc.
29 Canadian senior living communities
$900 million
Surgery Center Holdings
Symbion Holdings Corporation
$792 million
Acadia Healthcare Co.
Partnerships in Care
$660 million
Techne Corporation
ProteinSimple
$300 million
Hill-Rom Holdings Inc.
TRUMPF Medical
$250 million
Teva Pharmaceuticals
Labrys Biologics Inc.
$200 million
Roche Diagnostics
Genia Technologies
$125 million
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
Ambulatory Surgical Centers Attract Private Equity
Last week, Surgery Center Holdings, Inc., a.k.a. Surgery Partners, a portfolio company of H.I.G. Capital, agreed to pay $792 million for Symbion Holdings Corporation. Symbion is being sold by Crestview Partners LP, which first put the company on the market in November 2013 with a price tag of $800 million. The combined company will operate nearly 100 facilities in 27 states, including six surgical hospitals. Jeffries LLC acted as financial advisor to Surgery Partners and provided approximately $1.4 billion of debt financing for the transaction. McDermott Will & Emery and Ropes and Gray LLP acted as legal advisors to H.I.G. Morgan Stanley & Co. LLC acted as financial advisor and Waller Lansden Dortch & Davis, LLP acted as legal advisor to Symbion. Davis Polk & Wardwell LLP acted as legal advisor to Crestview Partners………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.
ClearCare Raises $11 Million Series B Investment
San Francisco-based ClearCare, the leading software platform for home care agencies, announced it has raised an $11 million investment led by venture capital firm Bessemer Ventures Partners. Cambia Health Solutions also participated in the round, and was joined by existing investors Voyager Capital, Qualcomm Ventures, Harbor Pacific Capital and City National Bank……..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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