Week of March 16, 2020 | Vol. 9, Issue 12
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.
U.S. FDA  has issued an Emergency Use Authorization (EUA) for  Roche’s  cobas SARS-CoV-2 Test. It is intended for the detection of SARS-CoV-2, the virus that causes COVID-19 disease, in swab samples from patients who meet COVID-19 clinical criteria for testing. Hospitals and reference labs can run the test on Roche’s automated cobas 6800 and cobas 8800 Systems, which are widely available in the U.S. and around the world.

The cobas 6800/8800 Systems provide test results in three and half hours with up to 96 results in about three hours and a total of 1,440 results. 

Upon authorization, Roche will have millions of tests a month available for use on the cobas 6800 and 8800 systems.  

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
13 transactions totaling $748 million
Supplies, Equipment & Services
15 transactions totaling $77 million
Healthcare IT & Managed Care
5 transactions totaling $5,104 million
Healthcare Facilities & Distributors
11 transactions totaling $81 million
Pharma & Biotech
41 transactions totaling $1,181 million
Supplies, Equipment & Services
26 transactions totaling $493 million
Healthcare IT & Managed Care
11 transactions totaling $54 million
Healthcare Facilities & Distributors
2 transactions totaling $115 million
Pharma & Biotech
21 transactions totaling $1,483 million
Supplies, Equipment & Services
3 transactions totaling $78 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.
March 10, 2020 - Outsourcing Pharma
The purchase is aimed at expanding the company’s specialty diagnostics offerings in sample preparation technology, assay capabilities, bioinformatics and more.

March 10, 2020 - Outsourcing Pharma
The acquired company specializes in conducting clinical trials for depression, anxiety, bipolar disorder and other central nervous system conditions.
March 10, 2020 - BioPharma Dive
The Food and Drug Administration is postponing inspections of overseas manufacturing plants and facilities supplying drugs to the U.S. except for those deemed "mission critical." The decision was based on travel restrictions and advisories put in place by the federal government in response to the global spread of the new coronavirus.
"Alternative tools and methods" will be used to maintain oversight of foreign manufacturers and products, the FDA said in Tuesday statement. The regulator acknowledged the move could affect its reviews of experimental drugs, however. 

March 9, 2020 - BioPharma Dive
The new coronavirus is moving quickly around the world. Since December, when it was first identified in Wuhan, China, the virus has spread to more than 100 countries. Some 105,000 cases have been confirmed, though the true number is surely higher, and at least 3,500 people have died. Already, the virus known as SARS-CoV-2 is straining healthcare systems in the hardest-hit regions, and threatens to do the same elsewhere as the infection total grows.
A handful of drugmakers have started work on vaccines to protect against the virus or medicines to treat the illness it causes — named coronavirus disease 2019, or COVID-19. Hundreds of studies are underway in search of an effective treatment, testing mostly repurposed HIV or influenza drugs. Yet it will likely be many months or even years, if at all, before one designed specifically for SARS-CoV-2 becomes available. Current treatment consists mostly of supportive care. 
Bourne Partners Corporate Video
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.
Current M&A Pipeline
Representative Current Retained Sell-Side And Partnering Opportunities
Project Capture
Sell-side | Consumer Health | Prescription drug disposal and opioid abuse deterrent solution

Project Athena
Sell-side | Medical Device | Novel medical device for the treatment of pelvic organ prolapse

Project Jaguar
Asset Divestiture | Generic Pharma | Basket of ANDAs

Project Vista
Out-partnering | Pharma | Seeking commercial partner for novel, liquid-format riluzole treatment of ALS

Project Seal
Buy-side | Pharma | Seeking Pain and CNS products as well as legacy/tail commercial pharma assets

Project Vintage
Asset Divestiture | Generic Pharma | Numerous therapeutic categories
Recent Materials Providing Insight Into Healthcare Related Industries
Royal DSM | Glycom Deal Profile
February 2020