Week of February 4, 2019 | Vol. 8, Issue 5
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Managing Director
Business Development
Jeremy C. Johnson
Managing Director
Head of M&A and Capital Advisory

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.
Thermo Fisher to sell pathology unit for $1.14 billion
Thermo Fisher Scientific Inc, the world's largest maker of scientific instruments, will sell its anatomical pathology business for $1.14 billion in cash, the company said on Monday.

 Thermo Fisher Scientific Inc, the world's largest maker of scientific instruments, will sell its anatomical pathology business for $1.4 billion in cash, the company said on Monday. The buyer is PHC Holdings Corp, a healthcare holding company based in Japan. Thermo Fisher's pathology business sells microscopic slides, centrifuges and other instruments used in diagnosing diseases, and makes about $350 million in annual revenue. It has about 1,2000 employees across the United States, Europe and China. Waltham, Massachusetts-headquartered Thermo Fisher forecast a dilution of about 10 cents to adjusted earnings per share in 2019 as a result of the sale, which it expects to close in the second quarter.

C ontinue Reading at Reuters .
Celgene inks $1B deal for a preclinical epigenetic blood cancer drug from Canada
Celgene has signed on to a deal worth about $1 billion for a Canadian preclinical asset: a first-in-class small molecule that targets protein-protein interactions and epigenetic regulation in leukemia and lymphoma.

The Big Biotech will pay $40 million upfront for the option to license TRPH-395, while committing to an additional $940 million or more in future R&D and sales milestone payments to Triphase Accelerator, a drug development company that looks to bring the compound through phase 2 proof of concept.
Discovered by the Ontario Institute for Cancer Research (OICR), TRPH-395 aims to inhibit interactions with the WDR5 protein, to induce wider epigenetic modification of histones and disrupt the histone methylation that can support different cancers. While the drug is currently in late lead optimization, according to Triphase, preclinical data has shown broad activity across a range of cancer cell lines, including in both solid and blood tumors. Spun out from the OICR, Triphase has been supported by the institute's commercialization partner, FACIT, which had originally seeded Propellon Therapeutics to develop the drug and advance the WDR5 platform. Propellon and FACIT later transferred the program over to Triphase for clinical development. Triphase and FACIT describe the deal as the largest transaction to date for a Canadian-discovered preclinical asset, following multiple formal offers from companies in the U.S., Europe and Japan.

C ontinue Reading at FierceBiotech .
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.

Pharma & Biotech
26 transactions totaling $954 million
Supplies, Equipment & Services
26 transactions totaling $1,144 million
Healthcare IT & Managed Care
8 transactions totaling $124 million
Healthcare Facilities & Distributors
7 transactions totaling $6 million

Pharma & Biotech
27 private placements totaling $400 million
Supplies, Equipment & Services
17 private placements totaling $57 million
Healthcare IT & Managed Care
7 private placements totaling $33 million
Healthcare Facilities & Distributors
3 private placements totaling $35 million

Pharma & Biotech
9 public offering totaling $71 million
Supplies, Equipment & Services
5 public offerings totaling $51 million
Healthcare IT & Managed Care
0 public offerings
Healthcare Facilities & Distributors
public offerings

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.

For a complete trading comp analysis (including the individual equities that comprise the sub sectors), click on the table to the right. 

Note: data reflects prior week close.
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.
Australia's Healthscope recommends Brookfield deal, shares surge
January 31, 2018 - Reuters
Australian hospital operator Healthscope Ltd said on Friday it had recommended a A$4.35 billion ($3.2 billion) takeover offer from Canadian investment firm Brookfield, taking its shares to an eight-month high.

January 31, 2018 - Bio Space
Janssen Pharmaceutical, a Johnson & Johnson  company, inked  a worldwide collaboration and license deal with MeiraGTx t o develop, manufacture and commercialize a portfolio of drugs for inherited retinal diseases.
January 30, 2018 - Fierce Biotech
Medtronic's new integrated robotic spine surgery system has begun treating its first U.S. patients, just months after last year's acquisition of Mazor Robotics and a clearance from the FDA.

January 29, 2019 - Reuters
Germany's Fresenius Medical Care said on Tuesday it had agreed to extend the deadline for its planned $2 billion takeover of U.S. home dialysis equipment maker NxStage MEdical Inc until August 6.

Amgen hunts for deals of all sizes to combat forthcoming sales decline
January 29, 2019 - Fierce Pharma
A couple of Big Pharma players have come out against megamergers in recent weeks. But Amgen isn't one of them.  On Tuesday's fourth-quarter earnings conference call, CEO Bob Bradway said his company continues to "look across the waterfront of smaller and larger deals."

Purdue Pharma Forges Agreement With Alivio Therapeutics to Advance a Non-Opioid Pain Therapy
January 28, 2019 - Bio Space
Connecticut-based Purdue struck a deal worth up to about $300 million with Alivio, an affiliate of PureTech Health, to use that company's inflammation-targeting technology to develop a non-opioid pain treatment for patients with interstitial cystitis/bladder pain syndrome (IC/BPS).

Recent Materials Providing Insight Into Healthcare & Related Industries
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