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Week ending January 30, 2015:
Recent Health Care M&A Deals
Acquirer
Target
Price
eHealth
CaerVision Global, Inc.
Vitall, Inc.
N/A
genae
e-novex
N/A
Physician Medical Groups
Independent Physicians Collaborative
8 physician groups
Merger
IPC Healthcare, Inc.
Select assets of Hospitalists Now
N/A
MEDNAX, Inc.
MEMAC Associates, P.C.
N/A
Actavis Buys UK Generic Drug Maker
Actavis plc (NYSE: ACT) isn’t waiting until its big deal for Allergan Inc. (NYSE: AGN) closes. Last week the specialty pharma company made a deal for London-based Auden Mckenzie Holdings Limited, which develops, licenses and markets niche generic medicines and proprietary brands in the United Kingdom. The deal, for approximately $459 million, will make Actavis the largest supplier of generic pharmaceuticals in the country, and after the close, the combined company is expected to be the third largest UK drug supplier. You may recall that a year ago, Actavis sold its western European generics commercial operations to Aurobindo Pharma, Ltd. (BSE: AUROBINDO.BO), in order to focus on other markets, such as central and eastern Europe, and southeastern Asia.
Managed Care M&A Is Picking Up
Deal making dropped off among managed care companies in 2013, to 15 deals, after a busy 2012, thanks to SCOTUS’ June 2012 ruling that kept the ACA on track. Last year we recorded 22 deals, mostly among Medicare and Medicaid programs in various states. Managed care deals are expected to keep that momentum going in 2015, and we’ve already recorded nine deals. This is a sector worth watching.
Managed Care M&A in January 2015
Acquirer
Target
Price
Centene Corporate
LiveHealthier, Inc.
N/A
Mapi Group
Optum Life Sciences services
N/A
AIG, Inc.
Laya Healthcare
N/A
Global Insurance Management
3 medical professional liability companies
N/A
National General Holdings
Healthcare Solutions Team, LLC
$15 million
Centene Corporation
Agate Resources, Inc.
N/A
Cigna Corp.
QualCare Alliance Networks, Inc.
N/A
Performant Financial Corp.
Premier Healthcare Exchange, Inc.
$130 million
Dane Street
National Examinations Network
N/A
Source: The Health Care M&A Information Source, January 30, 2015
Physician Medical Groups Are on the Move
The Physician Medical Group sector typically rocks along with a handful of announcements every month. In all of Q4:14, 16 deals were announced, which was average for 2014. In January 2015, however, eight deals are already on record, and only three involved the serial acquirers MEDNAX (NYSE: MD) and the rechristened IPC Healthcare, Inc. (NASDAQ: IPCM). Envision Healthcare Holdings (NYSE: EVHC) announced two practice acquisitions, and Sheridan, which was acquired by AmSurg (NASDAQ: AMSG) last year, made its first move on privately held Radisphere Corp. No prices were disclosed, of course.
Germ Zapping Robots Get $25 Million
Xenex Disinfection Services of San Antonio, Texas has secured $25 million in new funding for its “automated environmental disinfection technology” for healthcare facilities. The financing includes new participation from Brandon Point Industries Limited and continued investment from existing investors, including Battery Ventures, Targeted Technology Fund II and RK Ventures. The company’s patented pulsed xenon Full Spectrum™ ultraviolet disinfection technology destroys viruses, bacteria, mold, fungus and bacterial spores in healthcare facilities. It also has six peer-reviewed studies confirming the efficacy of the Xenex Germ-Zapping Robot™ in the healthcare environment, including three that show it decreased C.diff, MRSA and MDRO infections. No tests on Ebola. Yet……………..Click here for a free trial to The Health Care M&A Information Source and download the current issue today.
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