Week of July 26th 2021 | Vol. 10, Issue 30
In This Issue
Featured Headlines
Recent Industry Transactions
Industry Trading Comps
Recent Industry Headlines
Market Reports
Upcoming Events

Quick Links

Contact Information
Managing Director
Business Development

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 sub sectors.

For more information about our consumer healthcare JV with The Emerson Group, Daybreak Consumer Care, click here.
Recent Materials Providing Insight Into Healthcare Related Industries
Current M&A Pipeline
Representative Current Retained Sell-Side And Partnering Opportunities
Project Focus
Sell-side | CMO | Liquids and Semi-solids CMO headquartered in North America

Project Trident
Buy-side | Generic Pharma | Manufacturing liquid generics

Project Aspen
Sell-side | CDMO | Multinational CDMO headquartered in US

Project Athena
Sell-side / Licensing | Medical Device | Novel device for pelvic organ prolapse
Cadence Rx announced today the appointment of Danielle Lisenbey, Harry Spencer, and Bud Watts to the Board of Directors joining alongside Artemis Emslie and Lisa Hannusch. The joint team of industry-leading experts has a century of combined experience in both building and transforming the architecture of pharmacy benefit management and healthcare space to the next generation. 

Artemis Emslie, 25-year industry veteran, founder and CEO, the majority shareholder and corporate President says, “Cadence Rx is pleased to welcome Danielle Lisenbey, Harry Spencer, and Bud Watts to our Board of Directors, their experience will bring creative and innovative solutions that will continue to expand and elevate Cadence Rx into a market leader.”  

An Overview of Transactions Within Market Sub-segments
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
9 transactions totaling $877 million
Supplies, Equipment & Services
16 transactions totaling $146 million
Healthcare IT & Managed Care
4 transactions totaling $22 million
Healthcare Facilities & Distributors
4 transactions
Pharma & Biotech
19 transactions totaling $908 million
Supplies, Equipment & Services
16 transactions totaling $438 million
Healthcare IT & Managed Care
13 transactions totaling $333 million
Healthcare Facilities & Distributors
6 transactions totaling $92 million
Pharma & Biotech
8 transactions totaling $649 million
Supplies, Equipment & Services
6 transactions totaling $124 million
Healthcare IT & Managed Care
0 transactions
Healthcare Facilities & Distributors
0 transactions
A Breakdown of Relevant Trading Multiples
Each week, we provide updated trading comps for leading companies from numerous healthcare sub-sectors.
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. 

Note: data reflects prior week close.
A Sampling of Relevant Industry Headlines from 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.
July 22, 2021 - Fierce Biotech
Pfizer is doubling down on Arvinas. Three years after the duo inked a discovery and development deal, they’re adding commercialization to the mix. Pfizer is forking over $650 million upfront and investing $350 million in Arvinas to develop and commercialize the latter’s protein-degrading breast cancer drug. 

July 21, 2021 - Fierce Pharma
AstraZeneca’s mega $39 billion takeover of Alexion Pharmaceuticals has come to a close, delivering the British pharma a lucrative portfolio of immunology medicines and a towering presence in rare diseases. 

July 21, 2021 - Contract Pharma
Catalent will begin the first phase of a planned $100 million expansion at its facility in Anagni, Italy, to add biologics drug substance manufacturing capabilities to support the growing European market demand for biologics manufacture and supply.

July 21, 2021 - Fierce Pharma
Johnson & Johnson is forecasting $2.5 billion in full-year sales of its one-shot COVID-19 vaccine, company executives said Wednesday on a call with analysts. The vaccine pulled in $164 million for the second quarter and $264 million during the first six months of the year, chief financial officer Joe Wolk said. With pandemic revenues in the mix, the company anticipates between $93.8 billion and 94.6 billion in total sales for 2021.
Events Hosted or Attended by Bourne Partners

August 10-12, 2021 - Philadelphia, PA

October 20, 2021 - Charlotte, NC

November 9-11, 2021 - Milan, Italy

January 10-14, 2022 - San Francisco, CA
Welcome to Bourne, let's talk.

Since our founding in 2001, Bourne Partners has remained focused on fulfilling the unique needs of established, middle-market healthcare and pharmaceutical companies across the globe. Our track record includes advising middle market companies in healthcare M&A assignments totaling more than $7 billion, and growing companies into successful and well-positioned pharmaceutical enterprises.