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Week ending May 8, 2015:
Recent Health Care M&A Deals
Acquirer
Target
Price
Medical Devices
OphthaliX Inc.
Improved Vision Systems Ltd.
N/A
Agilent Technologies Inc.
Cartagenia
N/A
Welch Allyn, Inc.
Scale-Tronix, Inc.
N/A
Fox Three Partners, LLC
Burlington Medical Supplies
N/A
Microbrush International
DentiSmart LLC
N/A
Alexion Bets Big on Rare Diseases
It was another busy week for pharmaceutical deals, but Alexion (NASDAQ: ALXN) took the prize for biggest deal with its $8.4 billion acquisition of Synageva BioPharma Corp., a privately held pharma company specializing in treatments for rare diseases. Alexion touted the fact that Synageva’s pipeline complements its own and the combined company will be one of the most robust rare disease pipelines, with more than 30 diverse pre-clinical programs. The price consists of $115 in cash and 0.6581 ALXN shares for each share of Synageva, implying a total per-share value of $230, based on the nine-day volume-weighted average closing price of Alexion stock through May 5, 2015.
Busy Year for Billion-Dollar Health Care Deals
Last week we noted that April was a slow month for healthcare deals. Then we checked our database, DealSearchOnline.com, and discovered there have been 19 billion-dollar deal announcements already in 2015, through May 8th, with a combined total of $103.6 billion. The total for the entire year is about to top $120 billion, on 487 transactions. That’s not on track to beat 2014, yet.
Top 10 Health Care Deals of 2015, through May 8
Acquirer
Target
Price
AbbVie Inc.
Pharmacyclics Inc.
$21.0 billion
Pfizer Inc.
Hospira Inc.
$17.0 billion
Valeant Pharmaceuticals
Salix Pharmaceuticals
$15.8 billion
OptumRx
Catamaran Corporation
$12.8 billion
Alexion
Synagea BioPharam Corp.
$8.4 billion
Shire plc
NPS Pharmaceuticals Inc.
$5.2 billion
Private equity group
Life Time Fitness, Inc.
$4.0 billion
Teva Pharmaceuticals
Auspex Pharmaceuticals, Inc.
$3.2 billion
Mallinckrodt plc
Ikaria, Inc.
$2.3 billion
Rite Aid Corporation
EnvisionRx
$2.0 billion
Source: The Health Care M&A Information Source, May 8, 2015
Four Deals for Physician Medical Groups
The first full week of May saw a lot of activity, relatively speaking, in the Physician Medical Group sector. Four deals were announced, and not all by the usual acquirers. TeamHealth Holdings (NYSE: TMH), which took on Princeton Emergency Physicians in New Jersey for an undisclosed price, and IPC Healthcare (NASDAQ: IPCM) acquired Atlantic Hospitalist Group in Macon, Georgia. Eisner Pediatric & Family Center, a 95-year-old integrated community clinic in downtown Los Angeles, announced its acquisition of five physician practices in the surrounding area, three pediatric and two OB/GYN. Late in the week came word that South Shore Hospital in South Weymouth, Massachusetts would acquire the 70-physician South Shore Medical Center, which has been affiliated with the hospital for the past 53 years. Now it’s a part of the hospital.
Smith & Nephew Gets Some Help in the OR
Medical device maker Smith & Nephew plc (NYSE: SNN) acquired two surgical software applications, Virtual BackTable® and TrayTouch®, from privately held S2 Interactive. Both of the applications are used by Syncera, Smith & Nephew’s new orthopedic supply chain model for hospitals and ambulatory surgery centers (ASCs). They allow hospital and ASC administrators to access, analyze and manage real-time data related to instrument use during surgery. Arthroplasty surgery can involve as many as 20 trays holding a total of 200 or more instruments, all of which need to be counted, cleaned, inspected, assembled and sterilized before every surgery………………………Click here for a free trial to The Health Care M&A Information Source and download the current issue today.
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