MARKET ANALYSIS

Healthcare M&A Weekly 12.4.23

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 4, 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 - November 27, 2023.

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• AbbVie, an Illinois-based biopharmaceutical company, announced that it will acquire all outstanding shares of ImmunoGen, a Massachusetts-based cancer drugmaker. AbbVie will pay $31.26 per share for a total equity value of ~$10.1B. Click here to view the press release.

 

• Calibre Scientific, a provider of life sciences reagents, instruments, and other consumables, and a portfolio company of StoneCalibre has acquired Scientific Support Services, a provider of scientific instruments, supplies, and services. Read more about the acquisition here.

 

• East Coast Institute for Research, a Jacksonville, FL-based clinical research site management organization, has secured a growth investment from Gauge Capital. Learn more about the investment here.

 

• Eye Health America (EHA), a Georgia-based practice management company backed by LLR Partners, has acquired Medical, Laser, & Surgical Care of Vision and Eye Diseases, a Florida-based integrated eyecare provider. Read more about the acquisition here.

 

• Harmony Healthcare IT (HHIT), a health data management and platform solution provider, announced a significant investment from Novacap. The partnership will enhance HHIT's technological capabilities and expand its role in the health information technology sector. TripleTree served as exclusive financial advisor to Harmony Healthcare IT for this transaction. Click here to view the announcement.

 

• Hologic, a Massachusetts-based medical technology company, has, along with KKR, established a new platform called Maverix Medical. Maverix will develop and acquire innovative technologies and commercial operations within the lung cancer disease vertical. Learn more here.

 

• Integrative Life Network and Integrative Health Centers have merged to create a new, mental and behavioral healthcare company Peregrine Health, Inc. Read more about the merger here.

 

• Johnson & Johnson MedTech has acquired Laminar, a California-based medical device company focused on eliminating the left atrial appendage in patients with non-valvular atrial fibrillation for $400M. Click here for more on the acquisition.

   

• Medix Biochemica, a supplier of raw materials to the in vitro diagnostics industry, has acquired ViroStat, a manufacturer of antibodies and antigens used for the detection of respiratory and gastrointestinal agents. Read more about the acquisition here.

 

• Nervo Corp., a California-based global medical device company, has acquired Vyrsa Technologies, a Pennsylvania-based medical technology company focused on minimally invasive treatment options for chronic joint pain. Nervo paid $40M in at closing and agreed to pay up to an additional $35M in cash or stock tied to the achievement of certain development and sales milestones. Learn more about the acquisition.

 

• Neuberger Berman, through its specialized investment arm NB Capital Solutions, has acquired a minority stake in Colibri Group, a St. Louis, MO-based provider of career lifecycle management for mandatory professional education solutions. Neuberger Berman joins existing investor Gridiron Capital, a New Canaan, CT-based private equity firm, which will retain a majority stake in Colibri. Read more here.

   

• Pharmativ LLC, a California-based subsidiary of Otsuka Holdings Co, has acquired Bonafide Health, LLC, a New York-based women's health company. The acquisition is priced at $425M. Read more about the acquisition here.

 

• Rezolut, an Atlanta, GA-based medical imaging business and portfolio company of Sunny River Management, has acquired Southtowns Radiology, a multi-modality, all-digital radiology network. Click here to view the announcement.

 

• Sun Life Financial, an Ontario-based financial services company, has acquired a $7M minority interest in the equity of Simpill Health Group (Pillway), a local full-service digital pharmacy, with the opportunity to invest up to an additional $1.5M. Learn more 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.