MARKET ANALYSIS

Healthcare M&A Weekly 6.3.24

JUN 3

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 3, 2024. 

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 - May 28, 2024.

  • Gameto, a biotechnology company dedicated to women’s health, has closed an oversubscribed $33M Series B financing round, led by Two Sigma Ventures with RA Capital and participation from existing investors, including Insight Partners, Future Ventures, and BOLD Capital Partners. This latest funding brings Gameto’s total capital raised $73M. Learn more about the financing here.
 
  • HouseWorks Holdings, LLC, a personal care services platform serving the northeast, announced that it has acquired the Connecticut Personal Care Division of AccordCare, a national provider of home care and certified home health. TripleTree served as the financial advisor to AccordCare for this transaction. Read more about the acquisition here.
 
  • Merck [NYSE: MRK], and Eyebiotech Limited, a privately held ophthalmology-focused biotechnology company, announced that the companies have entered into a definitive agreement under which Merck, through a subsidiary, will acquire EyeBio. Under the terms of the agreement, Merck will acquire all outstanding shares of EyeBio for up to $3B. Click here to view the announcement.
 
  • Nordson Corporation [NASDAQ: NDSN], a precision dispensing manufacturer, announced it has entered into a definitive agreement to acquire Altrion Corporation [NASDAQ: ATRI], a proprietary medical infusion fluid delivery and cardiovascular solutions company. Read more about the acquisition here.
 
  • Numab Therapeutics AG, a clinical stage biotechnology company, announced that the company has entered into a definitive agreement whereby Johnson and Johnson [NYSE: JNJ] acquires Yellow Jersey Therapeutics, a wholly-owned subsidiary of Numab that develops treatments for atopic dermatitis set to advance to Phase 2 clinical development. Under the terms of the acquisition, J&J will pay a purchase price of $1.25B in cash. Read more here.
 
  • Progressive Dental Marketing, a full-service sales training, continuing education, and specialty marketing services provider to dental practices, has partnered with McCarthy Capital to accelerate its growth plans. The $100M recapitalization from McCarthy Capital will fuel Progressive Dental’s next phase of growth through additional resources to continue to expand domestically and internationally. Click here for more on the recapitalization.
 
  • Sightpath Medical, a provider of mobile and fixed ophthalmic surgical services, announced that it has acquired PennVista, a LASIK services business providing advanced equipment and dedicated technicians to surgery centers and hospitals in Pennsylvania, Ohio, West Virginia, Indiana, and Michigan. Read more about the acquisition here.
 
  • Surmodics, inc. [NASDAQ: SRDX], a provider of medical device and in vitro diagnostic technologies to the healthcare industry, announced that it has entered into a definitive agreement to be acquired by GTCR. Under the terms of the agreement, Surmodics shareholders will receive $43.00 per share in case, for a total equity valuation of approximately $627M. Learn more about the acquisition here.
 
  • T&R Recovery Group, a provider of mental health and addiction services, announced the acquisition of the Origins Network of facilities in Texas. These facilities include gender specific programs, an IOP program, counseling services, and women's sober living facilities. These facilities will collectively operate under the new name, Origins Recovery. View the press release here.
 
  • Virtual Therapeutics, a company focused on improving mental health at scale using games, and Akili, Inc. [NASDA: AKLI], a digital therapeutics company, announced the signing of a definitive merger agreement to form a diversified digital health company. The combined company will operate as Virtual Therapeutics, a privately held company, with Akili operating as a wholly owned subsidiary. Read more about the merger 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.
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