Week of December 3, 2018 | Vol. 7, Issue 48
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In This Issue
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Contact Information
Managing Director
Business Development
Managing Director
Head of M&A and Capital Advisory
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INDUSTRY M&A SNAPSHOT
Above is an overview of recent industry M&A activity. For additional information, see the charts below or click on the chart above to download complete transaction tables broken out by industry subsectors.
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Malaysia's Khazanah cuts IHH holding with $2 billion stake sale to Mitsui
Malaysian sovereign wealth fund Khazanah Nasional is selling a 16 percent stake in IHH Healthcare Bhd to Japan's Mitsui & Co Ltd.
In separate statements on Thursday, Khazanah and Mitsui said the Japanese firm is paying 8.42 billion ringgit ($2.01 billion) to raise its stake in IHH to 32.9 percent and become the biggest shareholder of one of Asia's largest private hospital groups. Khazanah's stake will be cut to about 26 percent. Citing sources, Reuters had reported in August that Khazanah will likely cut stakes in some top-linked firms as the new government of Prime Minister Mahathir Mohamad overhauls the fund's investment strategy, and that it could also review its stake in IHH Healthcare. "This is the beginning of a rationalization exercise (for Khazanah)," said a senior banker at a Malaysian bank, declining to be named because he was not authorized to speak to the media. "Probably they will maintain some of the more strategic investments, like some of the utility holdings. Some of the non-core ones and what they think they can rationalize, they will rationalize." the banker said. Bankers expect the $37.5 billion fund to trim stakes in lender CIMB Group Holdings and regional telecoms firm Axiata Group, and also restructure struggling Telekom Malaysia in the coming months.
C
ontinue Reading at Reuters
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An Overview of Transactions Within Market Subsegments
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. Total transaction values are provided in USD millions.
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Pharma & Biotech
21 transactions totaling $358 million
Supplies, Equipment & Services
19 transactions totaling $212 million
Healthcare IT & Managed Care
3 transactions totaling $2 million
Healthcare Facilities & Distributors
11 transactions totaling $2,068 million
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Pharma & Biotech
27 private placements totaling $437 million
Supplies, Equipment & Services
25 private placements totaling $198 million
Healthcare IT & Managed Care
10 private placements totaling $277 million
Healthcare Facilities & Distributors
1 private placement
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Pharma & Biotech
13 public offering totaling $692 million
Supplies, Equipment & Services
15 public offerings totaling $5,006 million
Healthcare IT & Managed Care
1 public offering
Healthcare Facilities & Distributors
2 public offerings totaling $1,099 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 sub sectors.
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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November 30, 2018 - Fierce Pharma
With a crucial shareholder vote looming, Takeda is on an aggressive push to win investor support for a Shire buyout expected to load the company with debt. Now, a top executive says that debt burden could be $10 billion lighter after the deal closes.
U.S. judge raises prospect of not approving CVS-Aetna deal
November 29, 2018 - Reuters
In an unusual move on Thursday, a federal judge raised the prospect of not approving CVS Health Corp's deal to buy insurer Aetna Inc, which closed earlier this week, during a routine portion of the legal process.
November 29, 2018 - Bio Space
Akebia Therapeutics, Inc. (Nasdaq:AKBA) ("Akebia" or the "Company") today announced that leading independent proxy advisory firm, Institutional Shareholder Services ("ISS"), recommends that Akebia shareholders vote "FOR" the shareholder proposals relating to the Company's proposed merger with Keryx Biopharmaceuticals.
November 29, 2018 - BioPharma Dive
Pola appears to have attracted Sun for two reasons. Not only does acquiring the small Japanese company give Sun a wider dermatology product portfolio, but the deal adds manufacturing capabilities that will give the larger generics company an improved production base in Japan.
Roche joins NASH dash with Jecure buy
November 28, 2018 -
BioPharma Dive
Roche's Genentech has acquired a young biotech in a bid to develop
new therapies for an increasingly popular disease target among drugmakers. Roche is looking to meld its discovery and development capabilities and know-how regarding NLRP3 biology with Jecure's portfolio, according to James Sabry, global head of Roche's pharma partnering.
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