Insights

A Look at Recent Transactions Shaping the Future of Healthcare

This week's article provides a summary of recent healthcare M&A news for June 20, 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 - June 12, 2023.

• Atlantic Medical Imaging, Inspira Health and Regional Diagnostic Imaging have agreed to a joint venture involving nine existing imaging centers, expanding a suite of imaging and vascular services to patients. Read more here.
• Altus Community Healthcare, a portfolio company of ZT Corporate, has acquired Exceptional Emergency Center, a community-based provider of freestanding emergency centers. Read more here.
• Biosynex (EPA: ALBIO), a French medical diagnostic equipment provider, specializing in point of care testing, has acquired ProciseDX, a California-based biological analysis solutions developer, with the expectation to commercialize the first FDA approved infliximab and adalimumab drug monitoring tests later this year. Read more here.
• Capitol Imaging, a provider of outpatient diagnostic imaging services backed by Clearview Capital, has acquired Houston Premier Radiology Center and Alliance MR, which offer a full range of diagnostic imaging services, and together combine 10 locations in the Greater Houston area. Read more here.
• Center for Autism and Related Disorders (CARD), a company backed by Blackstone (NYSE: BX), has entered into an asset purchase agreement with Pantogran LLC, acquiring substantially all of CARD’s assets. Read more here.
• Coherus BioSciences (NASDAQ: CHRS), a California-based developer of biosimilars used to treat diseases, has agreed to acquire Surface Oncology (NASDAQ: SURF), a clinical-stage immuno-oncology company developing next-generation immunotherapies that target the tumor microenvironment.  Read more here.
• Diagnostear, a unit of BioLight (TASE: BOLT) focusing on eye diseases, has entered into a binding LOI for a merger agreement with a Canadian Corporation that is expected to list on the CSE with Biolight owning 50% of shares valued at $16.8m. Read more here.
• Dynamic Access, a TX-based provider of outsourced vascular access services backed by RiverGlade Capital, has announced the acquisition of I.V. Nurse Consultants, Inc, a provider of expert services to hospitals, hospices, and long term care facilities. Read more here.
• EyeSouth Partners, a Georgia-based eye care management services organization, backed by Olympus Partners, has acquired Carolina Cataract & Laser Center and Eyecare Physicians & Surgeons, two ophthalmic practices based in Charleston. Read more here.
• Grovecourt Capital Partners has acquired Premier Radiology Services, a Miami-based provider of teleradiology services. Read more here.
• M3 Global Research, a unit of Japan-based M3 Inc., has agreed to acquire Kantar Profiles and Kantar Media Healthcare Research, two healthcare research businesses from Kantar Group, a UK-based marketing data and analytics company. Read more here.
• Novartis (NYSE: NVS) announced that it has entered into an agreement to acquire Chinook Therapeutics (NASDAQ: KDNY), a Seattle-based clinical stage biopharmaceutical company for $40 cash / share plus contingent value right of up to $4 cash / share. Read more here.
• Orthopedic Care Partners, an orthopedic practice management platform, announced a strategic partnership with the American Spine & Orthopaedic Institute, a renowned practice specializing in complex adult and pediatric spine pathology, based in Orlando, Florida. Read more here.
• Petauri Health, a purpose-built pharmaceutical services platform backed by Oak Hill Capital, has acquired The Kinetix Group, a strategic advisory, marketing and medical affairs firm. Read more here.
• RK Pharma, a vertically integrated pharmaceutical company, has announced the successful completion of the acquisition of VGYAAN Pharmaceuticals LLC, a company focused on developing and commercializing clinically critical therapies across a variety of dosage forms and therapeutic categories. Read more here.
• Thirty Madison, a NYC-based company providing specialized care and treatment for people with chronic conditions, has acquired assets from The Pill Club. Read more here.
• Verastem Oncology (NASDAQ: VSTM), a biopharmaceutical company committed to advancing new medicines for patients with cancer, announced its intention to offer common stock and pre-funded warrants in an underwritten public offering. Read more here.
• Verb Biotics, a probiotics innovation company, has acquired YSOPIA Bioscience’s strain and IP portfolio targeted for human health and wellness. Read more here.
• Wedgewood Pharmacy, a New Jersey-based pharmaceutical company, has merged with Blue Rabbit, a Maine-based company dedicated to veterinary prescription management and pharmacy solutions. Read more here.
• Zentalis Pharmaceuticals (NASDAQ: ZNTL), a clinical-stage biopharmaceutical company discovering and developing clinically differentiated small molecule therapeutics targeting fundamental biological pathways of cancers, announced the pricing of an underwritten offering of 11,032,656 shares of common stock at an offering price of $22.66 per share, for gross proceeds of $250M. Read more here.

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.