Week of July 17, 2017 | Vol. 6, Issue 27
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EQT to buy Certara from Arsenal for $850M
Private equity firm EQT is acquiring in silico drug development service provider Certara from Arsenal Capital Partners, a deal that values the CRO at $850 million
Arsenal will retain an unspecified minority stake in Certara, and the company's current management team, including CEO Edmundo Muniz, M.D., Ph.D., who joined the company in June 2014 from Kirax, will stay on.
Certara is known for its drug development modeling software and regulatory services. Founded in 2008 from a merger between drug discovery informatics provider Tripos and clinical software and regulatory services specialist Pharsight, the company's current expertise was built through a series of seemingly ceaseless acquisitions. The company, through 19 offices in four continents, serves 1,200 commercial companies, 250 academic institutions and almost all major regulatory agencies. More than 500 employees work for the company, with 100 scientists in in silico drug development practice and 120 in the regulatory writing section.
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Sanofi to buy vaccines biotech group Protein Sciences
French drugmaker and healthcare group Sanofi is to buy privately-held U.S vaccines biotech company Protein Sciences for an initial amount of $650 million
Under the terms of the agreement, Sanofi will make an upfront payment of $650 million for Protein Sciences, and pay up to $100 million upon the achievement of certain milestones.
"The acquisition of Protein Sciences will allow us to broaden our flu portfolio with the addition of a non-egg based vaccine," said David Loew, Sanofi executive vice president and head of Sanofi Pasteur, the company's vaccines arm.
Sanofi missed out to Johnson & Johnson on buying Switzerland's biotech Actelion in January - a $30 billion deal - and was also beaten in August last year by a $14 billion bid for cancer specialist Medivation from Pfizer.
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Below are summaries and charts with the past week's transactions from the different healthcare sectors. For a detailed table showing data for each industry transaction click on any of the charts or use the download link above. Total transaction values are provided in USD millions.
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Pharma & Biotech
12 transactions totaling $7,160 million
Supplies, Equipment & Services
22 transactions totaling $396 million
Healthcare IT & Managed Care
8 transactions totaling $400 million
Healthcare Facilities & Distributors
12 transactions totaling $21 million
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Pharma & Biotech
8 private placements totaling $78 million
Supplies, Equipment & Services
8 private placements totaling $34 million
Healthcare IT & Managed Care
8 private placements totaling $39 million
Healthcare Facilities & Distributors
3 private placement totaling $339 million
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Pharma & Biotech
9 public offerings totaling $669 million
Supplies, Equipment & Services
3 public offerings totaling $20 million
Healthcare IT & Managed Care
1 public offering totaling $1 million
Healthcare Facilities & Distributors
1 public offering totaling $6 million
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Each week, w
e provide updated trading
comps for leading comp
anies from numerous healthcare subsectors.
To the right you will see a high-level breakdown of median revenue and EBITDA multiples for each of the specific subsectors
For a complete trading comp analysis (including the individual equities that comprise the subsectors), click on the table to the right or use the download link from the top of this newsletter.
Note: data reflects prior week close.
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RECENT INDUSTRY HEADLINES
A Sampling of Relevant Industry Headlines from the Last Week
Below are snippets from relevant industry news articles from the past week. For additional information or the article's complete text, click the headline link to view the original publication.
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July 12, 2017 -
Fierce Biotech
California neurodegenerative disease upstart E-Scape Bio has closed an extension of its series A round, boosting its cash to $63 million.
The biotech can boast of some
big backers
, including VC OrbiMed, Novo Holding, Johnson & Johnson Innovation, Novartis Venture Fund and Osage University Partners, as well as Lilly Asia Ventures and Sutter Hill Ventures.
In wake of Opana ER's demise, FDA plans to intensify pharma's opioid-education job
July 12, 2017 - Fierce Pharma
Opioid makers may have a new task that's partly old, partly new: educating prescribers on the proper use and serious risks of their medications. That's an extension of the agency's current requirements. The real twist? Requiring that education to include information on rival nonopioid pain therapies and alternative approaches that don't involve drugs at all.
Commissioner Scott Gottlieb
said
this week that the agency plans new risk-management requirements for companies that make instant-release opioid drugs. The Risk Evaluation and Mitigation Strategy (REMS) plans that apply to extended-release formulas would be extended to the shorter-acting versions.
Buyout firm KKR & Co LLP (
KKR.N) is in advanced talks to buy Envision Healthcare Corp's (
EVHC.N) ambulance business and merge it with Air Medical Group, a medical helicopter operator it acquired two years ago, people familiar with the matter said.
A deal would combine the largest U.S. provider of ambulance services with a leading operator of medical helicopters. It would also help streamline Envision's business after its $10 billion merger with peer AmSurg Corp late last year.
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UPCOMING EVENTS
An Overview of Events Hosted or Attended by the Bourne Partners Team
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7th Annual Global Healthcare Executive Summit
October 4, 2017 | Charlotte, NC
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As an international, healthcare-focused merchant bank and financial advisory firm, we provide world-class services and capital to middle-market healthcare companies around the globe. We aim to keep our clients well-informed of healthcare news and events. With this additional insight in mind, together, we can recognize trends and opportunities that benefit our clients. We hope that you will reach out to Bourne Partners to help execute your healthcare operational and transactional needs. To learn more about our firm, visit our website or utilize the links below to engage with us on social media.
Sincerely,
The Bourne Partners Team
Bourne Partners
550 South Caldwell Street
Suite 900
Charlotte, NC 28202
704-552-8407
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STAY CONNECTED
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