Week of October 25th 2021 | Vol. 10, Issue 43 |
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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
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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.
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For more information about our consumer healthcare JV with The Emerson Group, Daybreak Consumer Care, click here.
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MARKET REPORTS
Recent Materials Providing Insight Into Healthcare Related Industries
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Current M&A Pipeline
Representative Current Retained Sell-Side And Partnering Opportunities
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Project Power Play
Buy-side | Specialty Pharma | In-license and acquire approved Rx products including legacy brands, generics, and niche launch-ready products
Project Alamo
Sell-side | CMO | Corporate Carve out - private label and OTC manufacturing business
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
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Sofinnova Partners has raised 472 million euros ($548 million) to create the largest early-stage healthcare venture capital fund in Europe.
The Paris-based VC company is no stranger to these raises, with this being its tenth fund, and adds to the 1 billion euros it has already raised in the last 12 months, bringing in a total of 2.5 billion euros.
But this latest $548 million for the so-called Capital X fund now sees it become the largest healthcare fund dedicated to early-stage investments and company creation in Europe as it looks to help spread early biotech and medtech bets across the continent.
The VC did not share specifics of what it would target, simply saying in a statement that: “In keeping with the current strategy, the team will source and create value across a portfolio of ground-breaking innovations in healthcare, supporting entrepreneurs globally in the creation and growth of their companies.”
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RECENT INDUSTRY TRANSACTIONS
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.
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Pharma & Biotech
6 transactions totaling $206 million
Supplies, Equipment & Services
11 transactions totaling $709 million
Healthcare IT & Managed Care
8 transactions totaling $592 million
Healthcare Facilities & Distributors
6 transactions totaling $100 million
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Pharma & Biotech
32 transactions totaling $583 million
Supplies, Equipment & Services
23 transactions totaling $352 million
Healthcare IT & Managed Care
19 transactions totaling $507 million
Healthcare Facilities & Distributors
4 transactions totaling $32 million
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Pharma & Biotech
9 transactions totaling $412 million
Supplies, Equipment & Services
10 transactions totaling $6,787 million
Healthcare IT & Managed Care
1 transaction totaling $100 million
Healthcare Facilities & Distributors
0 transactions
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INDUSTRY TRADING COMPS
A Breakdown of Relevant Trading Multiples
Each week, we provide updated trading comps for leading companies from numerous healthcare sub-sectors.
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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.
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RECENT INDUSTRY TRANSACTIONS
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.
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October 19, 2021 - Fierce Healthcare
The Centers for Medicare & Medicaid Services (CMS) will fund four states to expand telehealth and other healthcare services in their rural communities. Four organizations are set to receive grants from CMS to address health disparities in rural areas. The lead organizations will implement the Community Health Access and Rural Transformation Model, which increases regulatory flexibility for rural providers and allows them to use value-based payment models to encourage quality and outcomes over the volume of care.
October 20, 2021 - Fierce Biotech
Organ donation wait lists may soon be getting quite a bit shorter—with a little help from cloven-footed friends. Surgeons at NYU Langone Health successfully connected a pig kidney to a human for the first time last month, USA Today first reported, paving the way for animal organs to become viable options for human transplant within the next few years. The kidney, taken from a pig that was genetically modified by United Therapeutics subsidiary Revivicor, was attached to the blood vessels of a brain-dead patient on life support and kept outside the patient’s body for observation for a little over two days.
October 21, 2021 - Fierce Biotech
Pfizer knows a thing or two about mRNA with its BioNTech-partnered COVID-19 vaccine. So, the Big Pharma is doubling down in the hot field by investing in ReCode Therapeutics' $80 million series B. Pfizer Ventures and EcoR1 Capital spearheaded the round, which matched the size of a March 2020 series A for the mRNA biotech. Sanofi's venture shop also joined the round alongside nearly a dozen other backers. The proceeds will bankroll phase 1 studies of ReCode's lead programs in cystic fibrosis and another lung disease, called primary ciliary dyskinesia. PCD is similar to CF in that a group of genetic mutations cause patients to lack a certain protein that makes up cilia—a part integral to your airways.
October 21, 2021 - Fierce Healthcare
It’s little secret that younger generations—millennials and Gen Z—aren’t seeking or receiving healthcare the same way as their predecessors. First and foremost, the younger demographic is less likely to have a dedicated primary care physician than previous generations of patients—a trend that can at least be somewhat explained by broader supply and payment challenges. “We’re probably about 50,000 primary care docs short today, but it’s also about cost with the advent of the high-deductible health plans—a phenomenon I don’t think works well by and large for the U.S. health system,” Patrick Carroll, M.D., chief medical officer at Hims & Hers and a former primary care practitioner, said this week at the HLTH 2021 conference while speaking on a panel about healthcare offerings for younger patients.
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Events Hosted or Attended by Bourne Partners
Dates TBD - Charlotte, NC
October 5, 2021 - Virtual Webinar
November 9-11, 2021 - Milan, Italy
January 10-14, 2022 - San Francisco, CA
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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.
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