Week of February 21, 2023 | Vol. 12, Issue 7


In This Issue

Upcoming Events

Industry M&A Activity

Recent Transactions

Trading Comps

Market Reports

M&A Pipeline

Featured Headlines

Tanner Updates

Quick Links

Who We Are

M&A Discussion Group

Daybreak Consumer Care

Carlin Consumer Health

Contact Information

Xan Smith

Managing Director

Business Development

[email protected]

Jeremy C. Johnson

Managing Director

Head of M&A and Capital Advisory

[email protected]

Industry Snapshot
Above is an overview of recent industry M&A activity. Click on the chart to view complete transaction tables broken out by industry sub sectors. For additional information, see the Industry M&A Activity section below.
Events Hosted or Attended by Bourne Partners

CHPA 2023

March 19-21, 2023 - Orlando, FL

DCAT Week 2023

March 20-23, 2023 - New York City, NY

CPHI-North-America-logo-web image
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CPHI North America

April 25-27, 2023 - Philadelphia, PA


April 25-27, 2023 - New York City, NY

Recent Transactions, Trading Comps, Market Reports, M&A Pipeline
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 $335 million

Supplies, Equipment & Services

26 transactions totaling $412 million

Healthcare Facilities & Distributors

7 transactions totaling $30 million

Healthcare IT & Managed Care

5 transactions totaling $30 million


Pharma & Biotech

29 transactions totaling $436 million

Supplies, Equipment & Services

20 transactions totaling $131 million

Healthcare Facilities & Distributors

2 transactions

Healthcare IT & Managed Care

10 transactions totaling $50 million


Pharma & Biotech

23 transactions totaling $25 billion

Supplies, Equipment & Services

12 transactions totaling $6 billion

Healthcare Facilities & Distributors

2 transactions totaling $1 billion

Healthcare IT & Managed Care

2 transactions

A Breakdown of Relevant Trading Multiples
This is a high-level breakdown of median revenue and EBITDA multiples for each of the specific sub sectors.

Insight Into Healthcare Related Industries

Pharma Services Sector Snapshot 1H 2022

August 2022

Market Insight Capital Markets Update

October 2022


Representative Current Retained Sell-Side And Partnering Opportunities

Project Beach

Pharma Services | Sell-Side

Acquisition opportunity of Clinical Trial Services Provider

Project Elevate

Pharma Services | Capital Raise

Investment opportunity in Digital Health patient adherence platform

Project Ester

Consumer Health | Strategic Partnering 

Partnering opportunity for launch and commercialization of novel OTC dry eye product

Project Gateway

Pharma | Sell-Side

Acquisition opportunity of US specialty generics platform and small portfolio

Project Jazz

Pharma Services | Sell-Side

Acquisition opportunity of US compounding pharmacy and pharmacy services provider

Project Pine

Pharma Services | Capital Raise

Investment opportunity in sterile injectable Pharmaceutical Manufacturer 

Project Power Play

Pharma | Buy-Side

Seeking established brands across all therapeutic categories or growth assets in Neurology / CNS

Project Trident

Pharma | Buy-Side

Seeking generic liquids or established brands across all formats sold through the hospital / institutional channel


A Sampling of Industry Headlines

Catalent Completes Expansion of Singapore Clinical Supply Facility for Increased Temperature-Controlled Capabilities

Catalent - Feb 14, 2023

Astrea Bioseparations to Combine with Biotage AB, Creating Global Chromatography Leader

PR Newswire - Feb 15, 2023

Charles River and Purespring Therapeutics Announce Gene Therapy Manufacturing Collaboration

Business Wire - Feb 15, 2023

Dalton Announces Major Expansion in Commercial Sterile Manufacturing Capacity

PR Newswire - Feb 16, 2023

Resilience Signs Multi-Year Strategic Biomanufacturing Partnership with Leading Pharmaceutical Company

Business Wire - Feb 16, 2023

Lonza Completes Expansion of Conjugation Facility in Visp (CH)

Lonza - Feb 16, 2023

LIfT BioSciences and Minaris Regenerative Medicine Enter into a Development and Manufacturing Partnership for N-LIfT Allogeneic Neutrophil Based Cell Therapy

B3C Newswire - Feb 16, 2023



Enabling Access to Medicine

There are instances where patients may experience interruptions in treatment access, entirely lose access they once had, or completely lack access to a medicine that just isn’t available where they live. Tanner EVPs Maryori Alvarenga and John Lagus share more about these challenges and the opportunities to overcome them. Access the full article.

Let's Connect!

The Tanner team will be attending several networking events in the coming weeks. Let’s connect to discuss how our organizations can improve patient lives, together.