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September 29, 2014 Issue:
Recent Health Care M&A Deals
Acquirer
Target
Price
Behavioral Health Care
Universal Health Services
Cygnet Health Care Limited
$335 million
eHealth
HCA
PatientKeeper
N/A
Conifer Health Solutions.
SPi Healthcare
$235 million
ZirMed
MethodCare, Inc.
N/A
Maestro Healthcare Technology
Workable Solutions
N/A
Acorda Buys into Parkinson’s Disease Company
Biotech deals swooned in recent months, but last week made a comeback. Acorda Therapeutics (NASDAQ: ACOR) paid $525 million for Civitas Therapeutics, a privately held biotech in Chelsea, Massachusetts. Acorda, which concentrates on therapies that help patients with multiple sclerosis to walk, gained the worldwide rights to CVT-301, a Phase 3 treatment candidate for “off” episodes of Parkinson’s disease, when a patient freezes unexpectedly.
Top Five Health Care Transactions in September
Granted, the month isn’t quite over, but we’re ready to take stock of the M&A terrain. So far 101 deals have been announced, and we anticpate a few more, as the long-term care transactions try to get in under the September 30th wire. Spending stands at $25.2 billion, and none of the top transactions relied on tax inversions in order to be consummated. That total is 32% higher than in August. We’ll give you a full report in the October issue of Health Care M&A News, so stay tuned. Or subscribe!
Top 5 Health Care Deals thru September 29, 2014
Acquirer
Target
Price
Merck
Sigma-Aldrich
$17 billion
Cognizant Technology
TriZetto Corporation
$2.7 billion
Danaher Corp.
Nobel Biocare Holding AG
$2.2 billion
Acorda Therapeutics
Civitas Therapeutics
$525 million
Providence Service Corp.
Matrix Medical Network
$400 million
Source: The Health Care M&A Information Source, September 26, 2014
Universal Health Takes a Page from Acadia’s Playbook
Universal Health Services, Inc. (NYSE: UHS) followed its rival, Acadia Healthcare Company (NASDAQ: ACHA), across the pond with its $335 million purchase of Cygnet Health Care Services. Cygnet boasts that it’s one of the largest independent mental health care providers in the United Kingdom, with 15 inpatient behavioral health hospitals and two nursing homes, for a total of 743 beds. However, Acadia had already snatched up the UK’s second largest independent behavioral health care provider in June, when it paid $662 million for Partnerships in Care. PiC operates 23 inpatient psychiatric facilities, with a total of 1,200 beds.
Takeda Invests in a Therapeutic Accelerator
Japanese drug maker Takeda Pharmaceutical Company Limited (OTCPK: TKPHF) made a strategic $25 million investment in BioMotiv, LLC, a therapeutic accelerator associated with The Harrington Project for Discovery and Development. The Harrington Project is a $250 million national initiative to support the discovery and development of therapeutic breakthroughs by physician-scientists. Takeda’s investment, which will be spread out over five years, buys it the exclusive rights relating to programs sourced by BioMotiv in immunology and inflammation, and cardio-metabolic diseases…..Click here for a free trial to The Health Care M&A Information Source and download the current issue today.
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