Insights

A Look at Recent Transactions Shaping the Future of Healthcare

This week's article provides a summary of recent healthcare M&A news for August 12, 2024.

The healthcare industry is rapidly evolving, with the lines between the healthcare technology and services sectors blurring - creating the catalyst for innovation, transformation, and continued market activity. TripleTree's Healthcare M&A Weekly summarizes recent mergers, acquisitions, and investments shaping the future of healthcare.

To view previous healthcare M&A activity, please review last week's post: Healthcare M&A Weekly - August 6, 2024.

• Avista Healthcare Partners, announced the completion of its acquisition of Trillium Health Care Products, a contract development and manufacturing organization (CDMO) of branded over-the-counter products in North America, from New Water Capital. Read more about the acquisition here.
• Aytu BioPharma (NASDAQ: AYTU), a pharmaceutical company focused on commercializing novel therapeutics, announced it has entered into a definitive agreement to divest its Consumer Health (Innovus Pharmaceuticals) business to a private, e-commerce focused company. The divested business encompasses the established e-commerce platform, certain inventory and associated consumer brands, intellectual property, contracts, and liabilities. Learn more about the divestiture here.
• Consello Capital announced that it has acquired EHE Health, a national network provider of preventive healthcare. Among its services, EHE Health facilitates comprehensive preventive care exams, which are offered through the company's nationwide network of more than 200 clinics and physician practices. Read more about the acquisition here.
• Evernorth Health Services, which operates Freedom Fertility by Evernorth, announced its recent addition of VFP Pharmacy Group. The addition brings together the capabilities of two of the most experienced fertility pharmacies in the country. Click here to read more.
• G1 Therapeutics (NASDAQ: GTHX), a commercial-stage oncology company focused on delivering therapies for those affected by cancer, and Pharmacosmos A/S, a Denmark-based developer of treatments for patients suffering from iron deficiency and iron deficiency anemia, announced that they have entered into a definitive merger agreement. Learn more about the merger here.
• Mallinckrodt, a global specialty pharmaceutical company, announced the divestment of its Therakos business to CVC Capital Partners for $925M. Therakos is a fully integrated extracorporeal photopheresis (ECP) delivery system for autologous immunomodulatory therapy. View the press release here.
• PetIQ (NASDAQ: PETQ), a pet medication, health and wellness company, and Bansk Group announced that they have entered into a definitive agreement pursuant to which Bansk Group will acquire all of the outstanding shares of PetIQ’s common stock for $31.00 per share, in an all-cash transaction valued at approximately $1.5B. View the announcement here.
• Platinum Equity announced the acquisition of ASP Global, an Atlanta, GA-based distributor of consumable medical products for healthcare providers and distributors, from Incline Equity Partners. Read more about the acquisition here.
• Recursion (NASDAQ: RXRX) and Exscientia (NASDAQ: EXAI) announced the companies have entered into a definitive agreement, combining Recursion, a clinical stage technology-enabled biotech company, with Exscientia, a technology-driven clinical stage drug design and development company. Click here to view the press release.
• SurgNet Health Partners, a Nashville, TN-based Ambulatory Surgery Center development and management company, announced the acquisition of Tuscaloosa Endoscopy Center, a provider of gastrointestinal diagnostic and therapeutic endoscopic procedures in West Alabama. Read more about the acquisition here.
• Tenet Healthcare Corporation (NYSE: THC), a diversified healthcare services company, has entered into a definitive agreement with Orlando Health for the sale of Tenet’s 70% majority ownership interest in Brookwood Baptist Health in Birmingham for approximately $910M. Learn more about the transaction here.
• Zimmer Biomet Holdings (NYSE: ZBH), a global medical technology company, announced that it signed a definitive agreement to acquire OrthoGrid Systems, a privately-held medical technology company focused on artificial intelligence (AI)-driven surgical guidance systems for total hip replacement. Read more about the acquisition here.

Transactions outlined in this summary highlight some of the key trends shaping the future of healthcare. Get the latest industry news from TripleTree every week.

This is a partial list of transaction activity across the healthcare industry and is not intended to be a complete listing. Transaction information was identified from various sources and TripleTree may or may not have acted as the financial advisor for the transactions listed. All product names, logos and brands are property of their respective owners. All company, product and service names used in this communication are for identification purposes only. Use of these names, logos and brands does not imply endorsement.