MARKET ANALYSIS

Healthcare M&A Weekly 12.18.23

A Look at Recent Transactions Shaping the Future of Healthcare

This week's article provides a summary of recent healthcare M&A news for December 18, 2023. 

The healthcare industry is rapidly evolving, with the lines between the healthcare technology and services sectors blurring - creating the catalyst for innovation, transformation, and continued market activity. TripleTree's Healthcare M&A Weekly summarizes recent mergers, acquisitions, and investments shaping the future of healthcare.

To view previous healthcare M&A activity, please review last week's post: Healthcare M&A Weekly - December 11, 2023.

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• Aeterna Zentaris [NASDAQ: AEZS] [TSX: AEZS] and Ceapro [TSXV: CZO] [OTCQX: CRPOF], two biopharmaceutical development companies, have entered into a definitive agreement to merge their operations in an all-stock merger of equals. Read more about the merger here.

 

• AstraZeneca [NASDAQ: AZN], a UK-based pharmaceutical company, has agreed to acquire Icosavax [NASDAQ: ICVX], a US-based clinical-stage biopharmaceutical company focused on developing high-potential vaccines using a protein virus-like particle (VLP) platform, for up to $1.1B. Learn more about the acquisition here.

 

• Cardiovascular Associates of America, an Orlando, FL-based physician management services organization, has partnered with Atlanta Heart Specialists, a provider of general, diagnostic, and interventional cardiology services in the Greater Atlanta market. View the announcement here.

 

• ConcertAI, a Boston, MA-based oncology software firm, has announced the acquisition of CancerLinQ, a former subsidiary of the American Society of Clinical Oncology (ASCO). Click here to learn more.

 

• The Facilities Group, a Tampa, FL-based provider of integrated facilities maintenance backed by Greenbriar Equity Group and Revolent Capital Solutions, has acquired New York, NY-based National Healthcare Resources. Read more about the acquisition here.

 

• GT Medical Technologies, a Tempe, AZ-based medical device company focused on improving the lives of patients with brain tumors, has agreed to acquire radioactive Cesium-131 seed assets and related business infrastructure from Isoray, a subsidiary of Seattle, WA-based Perspective Therapeutics. View the announcement here.

 

• Integra LifeSciences Holdings Corporation [NASDAQ: IART], a medical technology company, is set to acquire Acclarent Inc, an ear, nose, and throat (ENT) procedure technology developer, from Ethicon Inc, a Johnson & Johnson MedTech company. Click here to view the press release.

 

• MCA Dental Group, a Canada-based Dental Support Organization, has successfully raised capital from Persistence Capital Partners (PCP) for its continued growth and expansion. Learn more here.

 

• NavaDerm, a dermatology platform, has sold its New Jersey practices, Millburn Laser Center and Scherl Dermatology, to Schweiger Dermatology Group. Read the announcement here.

 

• Nevada Surgical Suites, a provider of pain management solutions based in Nevada, has entered into a joint venture with Surgery Partners, a leading operator of surgical facilities and related ancillary services based in Brentwood, TN. Click here to learn more.

 

• Pathos AI, a US-based company, has entered into a definitive merger agreement to acquire Rain Oncology [NASDAQ: RAIN] for $1.16 per share in cash plus a non-tradeable contingent value right (CVR) for potential cash payments of up to approximately $0.17 per share. Read more about the merger here.

 

• Veranex, a global service platform for the medtech industry, has acquired T3 Labs, a preclinical laboratory based in Atlanta, GA, known for its preclinical evaluation services and innovative facilities. Learn more about the acquisition here.

 

• West Physics, a national provider of integrated medical and health physics consulting services, has acquired Radiation Protection Services (RPS), a regional provider of similar services based in Springfield, Illinois. Read more about the acquisition here.

 

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Transactions outlined in this summary highlight some of the key trends shaping the future of healthcare. Get the latest industry news from TripleTree every week.

This is a partial list of transaction activity across the healthcare industry and is not intended to be a complete listing. Transaction information was identified from various sources and TripleTree may or may not have acted as the financial advisor for the transactions listed. All product names, logos and brands are property of their respective owners. All company, product and service names used in this communication are for identification purposes only. Use of these names, logos and brands does not imply endorsement.