Week of August 10th, 2020 | Vol. 9, Issue 32
In This Issue
Featured Headlines
Recent Industry Transactions
Industry Trading Comps
Recent Industry Headlines
Market Reports
Upcoming Events

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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 Aspen
Sell-side | Pharma Services | Multi-national contract manufacturing and packaging organization

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

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 Olympus
Sell-side | Pharma | Portfolio of generic injectable products
OrbiMed, Novartis Venture Fund and RA Capital Management have joined forces to fund and help launch GentiBio.

The Boston, Massachusetts-based biotech starts life with a $20 million seed funding with an aim of creating new engineered regulatory T cells to deliver immune tolerizing meds for autoimmune, allergic and inflammatory diseases.

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
11 transactions totaling $287 million
Supplies, Equipment & Services
25 transactions totaling $17,371 million
Healthcare IT & Managed Care
13 transactions totaling $19,097 million
Healthcare Facilities & Distributors
10 transactions totaling $364 million
Pharma & Biotech
27 transactions totaling $1,362 million
Supplies, Equipment & Services
22 transactions totaling $316 million
Healthcare IT & Managed Care
16 transactions totaling $74 million
Healthcare Facilities & Distributors
5 transactions totaling $347 million
Pharma & Biotech
46 transactions totaling $6,876 million
Supplies, Equipment & Services
10 transactions totaling $1,587 million
Healthcare IT & Managed Care
2 transactions totaling $1,390 million
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.
August 3, 2020 - Contract Pharma
PPD, Inc. has signed a new three-year agreement with Pfizer to provide drug development services to advance Pfizer’s portfolio. Pfizer has the right to extend the term for additional two-year periods. Financial details were not disclosed.

August 4, 2020 - Contract Pharma
Partner Therapeutics, Inc. will receive a $35 million milestone-based Other Transaction Agreement with the U.S. Department of Defense (DOD) to fund two clinical studies of inhaled Leukine in patients with COVID-19 associated acute hypoxemia. The program will evaluate the effect of Leukine in improving clinical outcomes, including oxygenation and percent of patients intubated.

August 5 - Contract Pharma
Johnson & Johnson’s Janssen Pharmaceutical Companies have entered into an agreement with the U.S. government for the large scale domestic manufacturing and delivery in the U.S. of 100 million doses of Janssen's SARS-CoV-2 investigational vaccine, Ad26.COV2.S, for use in the U.S. following approval or Emergency Use Authorization by the FDA.

August 7, 2020 - Fierce Pharma
A third spinal muscular atrophy treatment is set to debut with the FDA’s approval for Roche’s Evrysdi, formerly known as risdiplam. The medicine offers at-home dosing for patients, potentially giving it an edge versus the competition during the COVID-19 pandemic.
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.