Week of June 21th 2021 | Vol. 10, Issue 26

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

Q1 Pharma Sector Snapshot June 2021

Q1 Consumer Health Sector Snapshot June 2021

Q1 Pharma Services Sector Snapshot January 2021

EOY Pharma Services Sector Snapshot January 2021

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

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

Danaher to acquire Aldevron from EQT for $9.6bn

Danaher, a science and technology company, has agreed to acquire biotech firm Aldevron from EQT Private Equity for an enterprise value of $9.bn. Established in 1998, Aldevron is headquartered in Fargo, North Dakota, US. The company produces plasmid DNA, mRNA and recombinant proteins used in vaccines, gene and cell therapy, gene editing and diagnostic applications. Aldevron offers its products to biotechnology and pharmaceutical clients for research, clinical and commercial purposes. It supplied the plasmid DNA utilised to produce mRNA Covid-19 vaccines, EQT noted. EQT purchased a majority stake in Aldevron in 2019, investing along with TA Associates, founders and management to aid the biotech in developing biologics. Read more at Pharmaceutical Business Review.

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 19 transactions totaling $10,426 million Supplies, Equipment & Services 23 transactions totaling $48 million Healthcare IT & Managed Care 8 transactions Healthcare Facilities & Distributors 22 transactions totaling $2,858 million

PRIVATE PLACEMENTS

Pharma & Biotech 32 transactions totaling $1,510 million Supplies, Equipment & Services 23 transactions totaling $622 million Healthcare IT & Managed Care 9 transactions totaling $112 million Healthcare Facilities & Distributors 2 transaction totaling $11 million

PUBLIC OFFERINGS

Pharma & Biotech 15 transactions totaling $8,759 million Supplies, Equipment & Services 5 transactions totaling $75 million Healthcare IT & Managed Care 1 transactions totaling $6 million Healthcare Facilities & Distributors 1 transactions totaling $15 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.

Gilead's Kite makes off-the-shelf play with Shoreline Biosciences CAR-NK deal worth as much as $2.3B June 18, 2021 - Fierce Biotech Gilead Sciences' Kite Pharma unit made its name developing autologous CAR-T treatments made from a patient’s own cells. Now, the subsidiary is making another big play in off-the-shelf treatments that can be developed more quickly in a deal with Shoreline Biosciences that could exceed $2.3 billion. Novartis’ prostate cancer drug secures FDA breakthrough designation June 17, 2021 - Pharmaceutical Business Review Novartis has secured breakthrough therapy designation from the US Food and Drug Administration (FDA) for 177Lu-PSMA-617 to treat metastatic castration-resistant prostate cancer (mCRPC). Tenet Healthcare sells off 5 Florida hospitals to Steward Health Care System for $1.1B June 17, 2021 - Fierce Healthcare Tenet Healthcare has sold off five Florida hospitals and their associated physician practices to Steward Health Care System for roughly $1.1 billion, the organizations announced late Wednesday. Sanofi Invests $425M in Flu Vaccine Manufacturing Facility June 17, 2021 - Contract Pharma The newly completed $425 million investment in the facility expands production and distribution of Sanofi's Fluzone High-Dose Quadrivalent for the upcoming 2021-2022 influenza season in the U.S. and will create up to 200 additional manufacturing jobs. Commercialization activities for the U.S. market are underway, with plans to support other countries in the future.

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.