Week of December 7th, 2020 | Vol. 9, Issue 49

In This Issue Featured Headlines Recent Industry Transactions Industry Trading Comps Recent Industry Headlines Market Reports Upcoming Events Quick Links Who We Are LinkedIn Corporate Site LinkedIn M&A Discussion Group Daybreak Consumer Care Contact Information Xan Smith Managing Director Business Development xsmith@bourne-partners.com Jeremy C. Johnson Managing Director Head of M&A and Capital Advisory jjohnson@bourne-partners.com

INDUSTRY M&A SNAPSHOT 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.

MARKET REPORTS Recent Materials Providing Insight Into Healthcare Related Industries

Q3 2020 Pharma Services Sector Snapshot October 2020

Q2 2020 Consumer Health Sector Snapshot August 2020

1H 2020 Pharmacy Services Sector Snapshot July 2020

1H 2020 Pharma Services Sector Snapshot July 2020

Current M&A Pipeline Representative Current Retained Sell-Side And Partnering Opportunities

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

Bourne Partners Advises Apollo Pharmaceuticals USA on Sale to Provepharm Life Solutions

Provepharm Life Solutions today announces its acquisition of Apollo Pharmaceuticals USA Inc. (Florida), a company based in the United States that specializes in the commercialization of sterile injectable products for hospital use. The business activities of Apollo Pharmaceuticals USA Inc. will be merged with those of the American subsidiary of the group, located in the US (Pennsylvania). The financial terms of the deal will not be disclosed. Bourne Partners served as the exclusive financial advisor to Apollo Pharmaceuticals USA ownership in this transaction. “We are pleased to have helped facilitate another deal in the generic pharma space, especially during a challenging year. This is our 5th generic pharma transaction in 2020,” said Jeremy Johnson, Managing Director of Bourne Partners. “This transaction is a successful outcome for all parties involved.” Provepharm’s strategic purchase enables it to strengthen its position in the US market, particularly through the expansion of its product range, initially by integrating Apollo’s four registered products. This deal will also allow the group to streamline its commercial activity with hospitals and successfully launch its pipeline products. Positioning Provepharm Life Solutions closer to the end user will make it possible to better adapt its products and services to customers’ expectations. Read more at Bourne Partners.

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.

M&A TRANSACTIONS

Pharma & Biotech 10 transactions totaling $845 million Supplies, Equipment & Services 17 transactions totaling $998 million Healthcare IT & Managed Care 8 transactions totaling $43 million Healthcare Facilities & Distributors 11 transactions totaling $2,748 million

PRIVATE PLACEMENTS

Pharma & Biotech 33 transactions totaling $642 million Supplies, Equipment & Services 15 transactions totaling $326 million Healthcare IT & Managed Care 15 transactions totaling $117 million Healthcare Facilities & Distributors 2 transactions

PUBLIC OFFERINGS

Pharma & Biotech 22 transactions totaling $3,364 million Supplies, Equipment & Services 9 transactions totaling $961 million Healthcare IT & Managed Care 0 transactions Healthcare Facilities & Distributors 1 transaction totaling $500 million

INDUSTRY TRADING COMPS 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.

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.

Home testing maven Everlywell nets $175M to expand into virtual care December 4, 2020 - Fierce Biotech Everlywell’s sales of at-home diagnostic tests, including one kit for COVID-19, are projected to quadruple this year—and investors have taken notice. The company’s second venture capital round this year has raised $175 million to help accelerate its efforts and expand further into retail stores nationwide. Silverback hits Wall Street with chest-thumping $242M IPO December 4, 2020 - Fierce Biotech Immuno-oncology biotech Silverback Therapeutics has more than doubled its original IPO hopes. The Seattle-based company had looked for a $100 million IPO last month but has got off a major $242 million debut, giving it a fully diluted market value of $758 million. In the end, it got this major cash swag by offering 11.5 million shares at $21, above the original range of $19 to $20. As COVID-19 demand surges, BD blueprints $1.2B expansion to jack up prefilled syringe output by 50% December 3, 2020 - Fierce Pharma Becton Dickinson masterminded the prefillable syringe, and decades later, it's a technology key to the global COVID-19 vaccine rollout. And with pandemic demand surging, BD is planning to shell out $1.2 billion to expand that very business. JSR's CDMO arm plans $150M biologics facility in Research Triangle alongside unnamed pharma partner December 3, 2020 - Fierce Pharma Biologics production has mushroomed in recent years with massive investments from big biopharma and contract manufacturing alike. Just over a month after its parent company pledged to expand clinical supply of those drugs, a North Carolina-based CDMO has even bigger plans for its commercial ops.

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.