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Week ending May 1, 2015:
Recent Health Care M&A Deals
Acquirer
Target
Price
Physician Medical Groups
TeamHealth Holdings Inc.
Professional Anesthesia Service, Inc.
N/A
DuPage Medical Group
Meridian Medical Associates SC
N/A
Rehabilitation
U.S. HealthWorks
Occupational Physician Services of Louisville
N/A
U.S. Physical Therapy
3 physical therapy clinics
$4.8 million
Celgene’s Busy Week
It wasn’t until the final week in April that Celgene Corporation (NASDAQ: CELG) took the title of top deal maker for the month. The single acquisition on the books as of April 24 was its collaboration with MedImmune (NYSE: AZN) on its anti-PD-L1 inhibitor MEDI4736, with $450 million in cash upfront. On April 27, CELG announced it would pay another $110 million for Quantical Pharmaceuticals, followed two days later by two smaller licensing deals with Northern Biologics ($30 million) and Agios Pharmaceuticals (NASDAQ: AGIO) for $10 million. Then on April 30, it reported very rosy results for the first quarter, with total revenue up 20%, to $2.08 billion, and much, much more.
Health Care M&A Hits a Wall in April 2015
It’s still a bit early to call the party over, but health care M&A spending in April had a hangover. Our preliminary data show 94 transactions announced, which is 29% lower than March’s deal volume, but about even with April 2014’s total. The dollars, however, stopped flowing abruptly. We’ve recorded only $3.8 billion in spending last month, a drop of 93% compared with the previous month, and -92% compared with the same month the year before. Check the May issue of Health Care M&A News for the sector-by-sector breakouts.
Health Care M&A in April 2015 vs. March 2015 and April 2014
Deals
Dollars
April 2015
94
$3.8 billion
March 2015
132
$54.6 billion
April 2014
96
$49.2 billion
Source: The Health Care M&A Information Source, May 1, 2015
St. Joseph’s Finally Says Yes to Trinity Health
What began as a strategic affiliation agreement in early 2014 finally blossomed into full commitment. St. Joseph’s Hospital Health Center, a 431-bed acute care hospital in Syracuse, New York, agreed to become part of Trinity Health’s national organization. Trinity already operates in other areas of the state, through Catholic Health in Buffalo and St. Peter’s Health Partners in Albany. Next steps for its latest addition include a transition team.
Nueterra Buys into Benefit Management
Privately held Nueterra is the largest U.S. private-sector organization specializing in the development of joint equity partnerships with health systems, governments, hospitals and physicians’ groups. Recently, however, it has shifted its focus to the consumer population, and last week acquired Benefit Management, Inc., which provides customized health benefits administration programs to partially self-insured companies. The goal is to develop pay-for-value models for the new bundled payment system. Tally-ho……………………..Click here for a free trial to The Health Care M&A Information Source and download the current issue today.
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