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September 2, 2014 Issue:
Recent Health Care M&A Deals
Sapiens Steering Brain Stimulation
Corgenix Medical Corporation
NGC Medical S.p.A.
DPx Holdings B.V.
Gallus BioPharmaceuticals, LLC
Roche Buys InterMune
In the biggest deal of the month (as of August 29th), Roche (SIX: RO) agreed to pay $74.00 per share, or $8.3 billion, for InterMune, Inc. (NASDAQ: ITMN), in an all-cash transaction. Based in Brisbane, California, the biotechnology company focuses on research, development and commercializing therapies in pulmonary and fibrotic diseases, which fit nicely into Roche’s current portfolio. Citi is acting as financial advisor to Roche and Davis Polk & Wardwell LLP is acting as legal counsel. Centerview Partners and Goldman Sachs are acting as financial advisors to InterMune, and Cravath, Swaine & Moore LLP is acting as legal counsel.
The 10 Biggest Health Care Deals in August
Deal makers took it easy in August, after a busy July. Our preliminary totals show 75 deals and a total of $19.3 billion. Five of the top 10 deals occurred in the Long-Term Care sector, and there was even a major transaction in the Hospital sector. Of course, Roche’s (SIX: RO) $8.3 billion bid for InterMune (NASDAQ: ITMN) kept the Pharmaceutical sector in the lead in terms of spending, but the eHealth sector showed some muscle, with Cerner’s (NASDAQ: CERN) $1.3 billion acquisition of Siemens Health Services division. More to come next week, when we can look at the entire month.
10 Largest Health Care Transactions in August 2014*
NorthStar Realty Finance
Griffin-American Healthcare REIT II
Siemens Health Services
Health Care REIT, Inc.
HealthLease Properties REIT
Genesis HealthCare LLC
Skilled HealthCare Group, Inc.
Duke LifePoint Healthcare
Conemaugh Health Sytem
Harrison Street Real Estate
11 senior living properties
NGC Medical S.p.A.
Health Care REIT, Inc.
11 UK seniors housing properties
* = through August 29. Source: The Health Care M&A Information Source, August 2014
Duke LifePoint Healthcare Acquires Conemaugh Health System
Late last week, Pennsylvania became the 27th state to expand Medicaid under the Affordable Care Act. The week before that, Duke LifePoint Healthcare (NASDAQ: LPNT) agreed to pay $500 million for Conemaugh Health System in Johnstown. Conemaugh has three hospitals, outpatient clinics and the Conemaugh Physician Group practice. Duke LifPoint, which is a joint venture between an academic health system and a hospital operations company, committed to investing $425 million in services and facilities over the next 10 years.
Mobile Health App Maker Raises $25 Million
AirStrip, a mobile healthcare applications maker, raised $25 million in a strategic funding round, led by the Gary and Mary West Health Investment Fund, Sequoia Capital and Wellcome Trust, among others. The funding will support the continued growth of the AirStrip ONE mobile tech solutions, expansion into the home health care space, internationalization and accelerated integration with analytics engines………..Click here for a free trial to The Health Care M&A Information Source and download the current issue today.
The 2014 Hospital Acquisition Report – Free Webcast Offer!
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. Order by September 30th and receive a FREE webcast: Key Growth Sectors in the Health-Care Services M&A Market. Go to http://www.levinassociates.com/landing/orderhos or call 800-248-1668 to order today.
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 September 30th 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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