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August 4, 2014 Issue:
Acquirer
Target
Price
eHealth
iCAD, Inc.
DermEbx™ and Radion, Inc.
$12.6 million
GetWellNetwork®, Inc.
Marbella Technologies
N/A
GTCR
XIFIN, Inc.
N/A
Long-Term Care
Titan SenQuest
2 retirement communities
N/A
American Realty Capital Healthcare Trust II
2 assisted living communities
$75 million
Omega Healthcare Investors, Inc.
Skilled nursing facility
$8.2 million
Titan SenQuest
Sentinel Pointe
$10.3 million
Meda AB Buys Rottapharm
There’s no inversion talk going on with the latest pharmaceutical deal. Swedish specialty pharmaceutical company Meda AB (STO: MEDAA) is acquiring the Italian drug maker Rottapharm S.p.A. for a total price of $3.05 billion. The price includes $2.202 billion in cash, 30 million Meda shares worth $478 million, plus a non-contingent deferred payment in January 2017 of $368.5 million. The acquisition is expected to yield approximately $130 million per year of cost synergies. The Rovati family, which owns Rottapharm, will own 9% of Meda after the transaction closes.
Five Largest Health Care Deals in July 2014
Deal-making was hot and heavy in July, and we’re still tallying up the stragglers. The preliminary total for the month is a healthy $70.5 billion in healthcare transactions. Nine of the top 10 deals by spending were for pharmaceutical or biotechnology targets. Check out the August issue of Health Care M&A News, published next week, for more details.
Top 5 Health Care Transactions in July 2014
Acquirer
Target
Price
AbbVie Inc.
Shire plc
$54.7 billion
Mylan, Inc.
Abbott’s generics business
$5.3 billion
Meda AB
Rottapharm S.p.A.
$3.05 billion
Salix Pharmaceuticals
Cosmo Technologies Ltd.
$2.7 billion
AstraZeneca plc
Almirall’s respiratory business
$875 million
Source: The Health Care M&A Information Source, August 2014
ARC-Healthcare Trust Keeps Rolling
American Realty Healthcare Trust (NYSE: HCT) acquired two assisted living communities in Arizona and New Mexico for $75 million. Woodmark of Sun City, Arizona was built in 1998 and Woodmark of Uptown in Albuquerque was built in 2000. The seller, AEW Seniors Housing Investors, purchased these properties in September 2011 for $52.5 million and a cap rate of 7.5%. Senior Lifestyle Corporation has been managing them and will continue to do so for ARC under a RIDEA structure.
Proteus Digital Health Closes Its Series G Round
Proteus Digital Health, Inc. of Redwood City, California last week announced it completed a second closing of its Series G financing, raising more than $172 million and adding more institutional investors. The latest round of growth equity will help the company advance the manufacturing and commercialization of digital medicines. In case you don’t know what that is, Proteus tells us it’s a new category of products, services and data systems that have the potential to significantly improve the effectiveness of existing pharmaceutical treatments. The new drugs integrate medicines with ingestible, wearable, mobile and cloud computing, to help patients make better decisions about health. Sounds so simple. ……….Click here for a free trial to The Health Care M&A Information Source and download the current issue today.
Healthcare Forum 2014, Sept. 17, Boston, MA
The Economist’s second annual Health Care Forum will address innovation and discuss the best strategies for growth and investment prospects. Save $400, discount code EMPMPMAN http://econ.st/1pfoKAl
The 2014 Hospital Acquisition Report 2 for 1 Special – Preorder Today!
There’s no quicker way to get current on the hospital M&A market or review historic hospital M&A data. Learn all about today’s hospital merger and acquisition market, not just what’s covered in major media.Take advantage of our limited time two-for-one offer: Order by July 31st and receive the 2013 Edition for FREE! Go to http://www.levinassociates.com/hospital-description or call 800-248-1668 to order today.
NEW – The Health Care Services Acquisition Report, 20th Edition – Order Today!
Deals have been made. The 2014 Health Care Services Acquisition Report contains private deals in this market that are frequently too small to make it into the financial press. Order by July 31st and get a complimentary $150 of transactions in our online health care M&A database. Now that’s a deal! Go to http://www.levinassociates.com/landing/har20order or call 800-248-1668 to order today.
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