Above is an overview of recent industry M&A activity. For additional information, see the charts below or follow the link to the left to download complete transaction tables broken out by industry subsectors.
See below for additional information about industry trading comps and transaction relevant articles from the past week.
Roche Acquires Remaining Shares of Foundation Medicine For $2.4 Billion
Three years after acquiring a majority stake in Foundation Medicine, Roche will bring the company's sequencing diagnostics platform under the Roche umbrella
As part of the Roche family, Foundation Medicine will remain an autonomous company, Roche said this morning. The Massachusetts company's services include a full suite of comprehensive genomic profiling (CGP) assays that are used to identify the molecular alterations in a patient's cancer and match them with relevant targeted therapies, immunotherapies and clinical trials. Roche initially became a majority stakeholder in Foundation Medicine in 2015. The $1.03 billion deal was expected to provide funding of Foundation Medicine's genomic profiling tests for up to five years. In December Foundation Medicine secured approval from the U.S. Food and Drug Administration for its sequencing diagnostics test for solid tumors that can detect cancer-causing mutations in 324 genes.
Private Equity Firm Veritas To Buy Cotiviti In $4.9 Billion Deal
Cotviti, which provides payment accuracy & analytics services to health insurers & healthcare companies, will combine with Verscend Technologies Inc.
Private equity firm Veritas Capital on Tuesday agreed to buy Cotiviti Holdings Inc in a $4.9 billion deal to expand its Verscend healthcare IT business. Cotiviti's shares were up 10.5 percent at $44.07 in morning trade, close to the offer price of $44.75 per share. "We see this (Verscend) as a natural strategic buyer," said Leerink analyst Ana Gupte, noting that anti-trust issues with the deal seemed to be manageable at an initial glance. Cotiviti, which had a market value of $3.71 billion to its last close, debuted at a price of $19 per share in 2016, valuing it at about $1.7 billion. Private equity firms such as Veritas have been investing more in public companies than at any time since the financial crisis, with a focus on healthcare companies. KKR & Co said earlier this month that it would buy Envision Healthcare Corp, one of the biggest U.S. providers of physicians to hospitals, in a deal valued at $5.57 billion.
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.