Week of March 22nd, 2021 | Vol. 10, 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.

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 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

Project Bulldog
Sell-side | Pharma Services| Life sciences consulting firm
Alcami, a global pharmaceutical contract development and manufacturing organization (CDMO), announced today that its Board of Directors has appointed Patrick D. Walsh as Chairman and Chief Executive Officer, effective immediately. He succeeds Walter J. Kaczmarek III, who is stepping down as Chief Executive Officer.

"Patrick's impressive track record of driving growth and achieving high client satisfaction at leading pharmaceutical businesses makes him the ideal executive to lead Alcami forward," commented Jason Shideler, a Managing Director on Madison Dearborn Partners' Health Care team and Lead Director at Alcami. "He brings a depth of industry knowledge and leadership experience that will support Alcami's strategic efforts to continue to add scale in attractive growth markets and deliver high-quality services to the pharmaceutical industry."

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
19 transactions totaling $376 million
Supplies, Equipment & Services
23 transactions totaling $577 million
Healthcare IT & Managed Care
4 transactions totaling $31 million
Healthcare Facilities & Distributors
8 transactions totaling $22 million
Pharma & Biotech
47 transactions totaling $2,050 million
Supplies, Equipment & Services
20 transactions totaling $206 million
Healthcare IT & Managed Care
23 transactions totaling $661 million
Healthcare Facilities & Distributors
3 transactions
Pharma & Biotech
31 transactions totaling $1,944 million
Supplies, Equipment & Services
6 transactions totaling $190 million
Healthcare IT & Managed Care
1 transaction
Healthcare Facilities & Distributors
3 transactions totaling $70 million
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 19, 2021 - Fierce Biotech
Chipmaker Rockley Photonics has announced plans to go public to raise funds for its wearable sensor platform designed to continuously monitor multiple biomarkers such as blood glucose levels, hydration, blood pressure and body temperature. Through a deal with publicly traded SC Health Corp., a blank-check special purpose acquisition company, or SPAC, Rockley will reemerge on the New York Stock Exchange under the ticker "RKLY" in a transaction listed with a pro forma enterprise value of $1.2 billion.

March 18, 2021 - Fierce Pharma
Holly Springs, North Carolina, is where Fujifilm will take its ambitious leap into large-scale cell culture manufacturing. In an emerging biotech hub 20 miles southwest of Raleigh, Fujifilm will build the largest cell culture biopharmaceutical CDMO facility in North America, the company said Thursday. The Tokyo-based firm will invest more than $2 billion in the project, projecting it will be operational by the spring of 2025. The company expects to employ 725 people there by the end of 2028.

March 18, 2021 - Fierce Biotech
Aktis Oncology has raised a $72 million series A round to develop radiopharmaceutical treatments for solid tumors. The MPM Capital-founded biotech received investment from Novartis and Bristol Myers Squibb. Nuclear medicine began decades ago with the use of beta emitters such as radioactive iodine. Such drugs achieved some success but failed in microscopic and disseminated cancers, potentially because of their relatively long particle path length and low linear energy transfer. Those characteristics make beta emitters suited to larger, heterogeneous tumors but poor at mopping up residual disease.

GBT adds 2 Sanofi sickle cell meds to its pipeline in deal worth up to $353M
March 16, 2021 - Fierce Biotech
As Global Blood Therapeutics works to bring its sickle cell disease drug, Oxbryta, to younger patients, the company is bolstering its pipeline with a pair of early-stage programs from Sanofi. In exchange for the global rights to the assets, Sanofi will receive up to $353 million, including a $2.25 million upfront fee and potential development, regulatory and commercial milestone payments down the line
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.