MARKET ANALYSIS

Healthcare M&A Weekly 3.13.23

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 activity and highlights the industry transactions shaping the future of healthcare.
  

• Adaptimmune Therapeutics [NASDAQ: ADAP], a UK-based immunotherapy company, and TCR2 Therapeutics [NASDAQ: TCRR], a Cambridge, MA-based immunotherapy company, have entered into a business combination agreement. Read more here.

 

• Agilent Technologies [NYSE:A], a Santa Clara, CA-based laboratory instrument and software firm, acquired e-MSion, a Corvallis, OR-based ExD cell device and software developer. The acquisition complements Agilent’s growing biopharma offerings. Read more here.

 

• ARCH Medical Solutions, a Bloomfield Hills, MI-based manufacturer of cutting tools, precision-machined components and products, has acquired Bettanini's Custom Manufacturing (BCM), a Sonora, CA-based contract manufacturer of precision-machined components for the surgical robotics, defense, aerospace, and specialized components markets. Read more here.

 

• AQUA Dermatology, a Palm Beach Gardens, FL-based skin care medical provider, has acquired Surgical Dermatology Group in Vestavia Hills, AL, and Skin Cancer Specialists, P.C. in Marietta, GA. Read more here.

 

• Cosmos Health, Inc. [NASDAQ:COSM], a Chicago, IL-based distributor of pharmaceuticals, branded generics, OTC medications and medical devices, will purchase Pharmaceutical Laboratories CANA S.A., a Greek pharmaceutical company. Read more here.

 

• Empower Physical Therapy, an Arizona-based physical therapy practice management company backed by Sheridan Capital Partners, announced the acquisition of Spectrum Therapy Consultants, located in El Paso, TX. Read more here.

 

• Fifth Third Bancorp [NASDAQ: FITB], a Cincinnati, OH-based bank, will acquire Big Data Healthcare, a Madison, WI-based healthcare payments and remittance software provider. Read more here.

 

• Futura Healthcare, a Horsham, PA-based healthcare advisory, consulting, and technology solutions provider backed by Renovus Capital, has acquired ASR Healthcare, a Duluth, GA-based regional Point-of-Care solution and service provider for healthcare mobile carts, Rx carts, medical carts, and infection prevention devices. This is Futura Healthcare's fourth acquisition in the last 18 months. Read more here.

    

• The Healing Company [OTC: HLCO], an i80 Group-backed dietary supplements provider, is acquiring Chopra Global wellbeing experiences businesses. The acquisition includes Chopra's physical product line, the Chopra meditation & wellbeing app, and licensed experiences including The Chopra Health Retreat at CIVANA Wellness Resort & Spa and the Chopra Mind-Body Zone and Spa at the Lake Nona Performance Club. Read more here.

 

• Help at Home, a Chicago, IL-based provider of home care and community-based services backed by Centerbridge Partners and The Vistria Group, has acquired Prosper Home Care, an Atlanta, GA-based home healthcare services firm. Read more here.

 

• Medical Solutions, an Omaha, NE-based provider of healthcare staffing services, has acquired WorldWide HealthStaff Solutions, a Charlotte, NC-based recruitment, immigration and relocation services firm. Read more here.

 

• Pace Analytical Services, an Oakdale, MN-based provider of regulatory testing and analytical laboratory services and a division of Pace, has acquired Alpha Analytical, a Westborough, MA-based full-service environmental laboratory services company. Pace is a portfolio company of Leonard Green & Partners and Aurora Capital Partners. Read more here.

 

• South Bend Orthopaedics, which operates five clinics in Indiana, has entered into a partnership with Revelstoke-backed OrthoAlliance. The partnership will enhance SBO's success and comprehensive approach to delivering specialized bone, joint, and muscle care to more patients throughout northern Indiana. Read more here.

 

• Vonco Products, a Trevor, WI-based packaging and component firm, has acquired Genesis Plastics Welding, a Fortville, IN-based medical device manufacturer. Read more here.

 

• WW International, Inc. [NASDAQ: WW], a New York City-based weight loss program, will acquire Weekend Health, Inc., d/b/a Sequence, a San Francisco, CA-based subscription telehealth platform offering access to healthcare providers specializing in chronic weight management, for USD 132m. Read more here.

     

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.