Week of November 2nd, 2020 | Vol. 9, Issue 44 |
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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 Trident
Buy-side | Generic Pharma | Manufacturing liquid generics
Project Montage
Strategic Advisory | Generic Pharma + CDMO | Exploring full range of transaction alternatives
Project Aspen
Sell-side | Pharma Services | Multi-national contract manufacturing and packaging organization
Project Bulldog
Sell-side | Pharma Services| Life sciences consulting firm
Project Olympus
Sell-side | Pharma | Portfolio of generic injectable products
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Bourne Partners Strategic Capital and Meeting Street Capital Jointly Back PBM Veteran Artemis Emslie in Cadence Rx |
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Bourne Partners Strategic Capital (”BPSC”), a healthcare-focused investor and Meeting Street Capital (“MSC”), a backer of early stage B2B SaaS and other tech-enabled companies are jointly leading a series A growth equity investment for Cadence Rx. Cadence Rx, a newly formed workers compensation focused PBM, combines deep industry experience with cutting edge proprietary technology to lower drug spend and improve program management for its partners.
The vision, cast by Cadence Rx founder and CEO Artemis Emslie, elevates and expands the scope of pharmacy benefit management (PBM) services available in today’s workers’ compensation market, creating an opportunity for a young company to add significant value to long standing industry. The unique Cadence business model provides immediate price transparency and pharmaceutical cost savings for its clients that include workers comp carriers, third party administrators, self-insured large employers and state-run enterprises.
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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
12 transactions totaling $7,289 million
Supplies, Equipment & Services
28 transactions totaling $1,942 million
Healthcare IT & Managed Care
8 transactions totaling $31 million
Healthcare Facilities & Distributors
7 transactions totaling $8 million
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Pharma & Biotech
36 transactions totaling $2,739 million
Supplies, Equipment & Services
17 transactions totaling $193 million
Healthcare IT & Managed Care
18 transactions totaling $302 million
Healthcare Facilities & Distributors
1 transaction
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Pharma & Biotech
19 transactions totaling $3,841 million
Supplies, Equipment & Services
13 transactions totaling $22,088 million
Healthcare IT & Managed Care
2 transactions totaling $15 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 28, 2020 - Fierce Biotech
Exact Sciences is adding early cancer detection to its pipeline through its buyout of Thrive Earlier Detection for up to $2.15 billion in cash and stock. The deal comes just three months after Thrive raised $257 million in venture dollars to push its liquid biopsy test into a registrational trial.
October 27, 2020 - Fierce Biotech
The Atlas Venture gene therapy startup was working under the radar and contemplating another venture round when it got an offer it couldn’t refuse: $150 million upfront to become part of Novartis, with another $130 million promised if it hits certain goals.
October 26, 2020 - Fierce Biotech
Bayer has struck a deal to acquire Asklepios BioPharmaceutical for $2 billion upfront. The deal, which features an additional $2 billion in milestones, will give Bayer control of an adeno-associated virus (AAV) gene therapy platform and a pipeline led by clinical-phase treatments for Parkinson’s, Pompe disease and congestive heart failure.
October 29, 2020 - Contract Pharma
Catalent will purchase the shares of SCTS, currently held by Bone Therapeutics, which owns and operates a purpose-built CGxP facility of approximately 41,000 square-foot, including its related quality control and product development labs, warehouse, grade C and B cleanrooms and equipment as well as land for further development. Catalent will undertake the manufacturing of clinical material for Bone Therapeutics’ drug, ALLOB, an allogeneic osteoblastic cell therapy product, derived from ex vivo cultured bone marrow cells.
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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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