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.
Malaysia's IHH Healthcare Nears Takeover Of India's Fortis With $1.1 Billion Bid
IHH'S 170 rupees per share offer was chosen over a joint bid from Indian firm Manipal Health Enterprises Ltd and U.S. private equity firm TPG Capital.
Malaysia's IHH Healthcare Bhd is set to take control of India's Fortis Healthcare after its bid of up to $1.1 billion was chosen over a rival's, giving it ownership of over 30 hospitals amid a private healthcare boom in India.The offer represents a roughly 20 percent premium to its last closing price and caps a months-long bidding war for control of the Indian company that drew interest from domestic and international suitors.
The offer represents a roughly 20 percent premium to its last closing price and caps a months-long bidding war for control of the Indian company that drew interest from domestic and international suitors. IHH's offer is the third one that cash-strapped Fortis has approved this year, with a previous offer being shot down by shareholders. However, this time there is more confidence of the deal being approved.
Otsuka will acquire Visterra for approximately $430M in an all-cash transaction
The Otsuka and Visterra boards of directors have approved the transaction. Subject to customary closing conditions, including expiration or termination of the waiting period under U.S. antitrust laws, the transaction is expected to close in the third quarter of 2018.
Visterra's Hierotope platform, comprised of novel computational and experimental technologies, enables the design and engineering of precision antibody-based therapies that specifically bind to, and modulate, disease targets that are not adequately addressed by current technologies in antibody therapeutics. Visterra;s pipeline includes programs targeting IgA nephropathy and other kidney diseases, cancer, chronic pain and infectious diseases. Otsuka's research areas are in psychiatric and neurological diseases, hematological cancers, and kidney, cardiovascular, and infectious diseases. The company is placing emphasis on proprietary drug discovery and development platforms, including antibody development platforms, as a means to increase the efficiency of drug discovery across its programs and as an addition to conventional R&D processes.
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.
Each week, we 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 or use the download link from the top of this newsletter.
Note: data reflects prior week close.
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.
