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July 28, 2014 Issue:
Recent Health Care M&A Deals
Pharmaceuticals
Acquirer
Target
Price
Symplmed
Rights to ACEON
N/A
Galena Biopharma, Inc.
U.S. Rights for Zuplenz
$5 million
STALLERGENES
ALERGO PHARMA S.R.L.
N/A
Physician Medical Groups
Integrated Dermatology Group
Eastern Connecticut Dermatology
N/A
Rehabilitation
Agility Health Holdings Inc.
Undisclosed rehabilitation
services
$20.8 million
Shire Bulks Up its Rare Disease Pipeline
Even after Shire plc (NASDAQ: SHPG) agreed to be acquired by AbbVie (NYSE: ABBV) for $54.7 billion, it was still on the prowl for acquisitions of its own. Last week the company announced it’s paying $15 million for the worldwide license to ArmaGen for its early-stage drug candidate, AGT-182. ArmaGen will conduct and complete the Phase 1 and 2 studies, which it expects to begin by the end of 2014. After that, Shire picks up the clinical development, including Phase 3 trials and commercializing. If all goes well, ArmaGen could receive payments up to $210 million, and additional equity investment from Shire, or the New AbbVie, by that time. ……….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.
eHealth Sector Sees Growth in 2014
In July 2013, the eHealth sector was stuck in the summer doldrums. Just 28 deals were announced in the first seven months, with a combined total of $674 million. Things are looking up for the sector this year. Deal volume has more than doubled, now up 104%, to 57 deals. Spending hasn’t exactly kept pace, however. So far we’ve tallied $790.7 million in deal value, up 17%. So deals are being made, but for smaller amounts.
Top 5 eHealth Transactions in 2014, through July 25
Acquirer
Target
Price
Summit Partners
ABILITY Network
$550 million
Emdeon Inc.
Capario
$115 million
Bridgepoint Development Capital
Phlexglobal
$71.9 million
Health Insurance Innovationa
HealthPocket, Inc.
$32 million
BioTelemetry, Inc.
Cardiac patients services unit
$8.7 million
Source: The Health Care M&A News, July 25, 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.
Another Rehab Acquisition for Agility Health
Last week Agility Health Holdings (TSX Venture: AHI) announced its $20.8 million purchase of an unidentified contract physical rehabilitation service provider somewhere in the United States. Agility, based in Grand Rapids, Michigan, runs a network of outpatient rehab clinics, and provides contracted services to hospitals, nursing homes and other institutional clients. With this new addition, Agility now operates at more than 200 sites across 26 states. ………..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.
Sofinnova Closes Its Ninth Biotech Venture Fund at $500 Million
Sofinnova Ventures last week announced the closing of Sofinnova Venture Partners IX, L.P. at the hard cap of $500 million and well in excess of the initial fund target of $425 million. SVP IX plans to provide capital primarily to companies in the late-stage clinical trial programs, and some select earlier stage opportunities. It’s particularly interested in developing specialty pharmaceuticals and orphan disease products (hello, New AbbVie). ……….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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