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 6, 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.

• AbbVie (NYSE:ABBV), a Chicago, IL-based pharmaceutical company focused on immunology and oncology medicine, announces that it has completed its acquisition of Cerevel Therapeutics (NASDAQ:CERE), a Cambridge, MA-based developer of central nervous system therapies for $8.7B. Read more about the acquisition here.

• Agilent Technologies (NYSE:A), a Santa Clara, CA-based provider of biotechnology equipment and services has acquired Sigsense, a San Francisco, CA-based startup focused on using artificial intelligence and power monitoring to help optimize lab operations. Click here to view the announcement.

• Agilent Technologies (NYSE:A), a Santa Clara, CA-based provider of biotechnology equipment and services has acquired BioVectra, a pharmaceutical contract development and manufacturing organization from HIG Capital for $925M. Learn more about the acquisition here.

• AMSURG, a Nashville, TN-based provider of ambulatory surgery center management services and subsidiary of Envision Healthcare (NYSE:EVHC) has acquired River Road Surgery Center, a Salem-OR based outpatient surgery center specializing in Ear, Nose, and Throat procedures. View the press release here.

• AvaSure, a Belmont, MI-based developer of telehealth technology has acquired Ouva, a San Francisco, CA-based developer of AI-powered smart room technology. Additional add-on sponsors include Corewell Health Ventures, Goldman Sachs Growth Equity, Heritage Group, and UnityPoint Health Ventures. Read more about the acquisition here.

• Community Health Systems, Inc. (NYSE:CYH) announces that certain subsidiaries of the company have completed the sale of 351-bed Tennova Healthcare – Cleveland in Cleveland, Tennessee, and certain related businesses to Hamilton Health Care System, Inc. for $16M. View the announcement here.

• The Ensign Group (NYSE:ENSG), San Juan Capistrano, CA-based a provider of post-acute healthcare services announced its acquisition of 3 senior living facilities. One in Des Moines, IA with 76 beds, and two in Denver, CO with 125 and 133 beds. All of these acquisitions are effective as of August 1, 2024 and bring Ensign's growing portfolio to 315 healthcare operations, 29 of which also include senior living operations, across 14 states. Learn more about the acquisitions here and here.

• Foresight Diagnostics, an Aurora, CO-based developer of cancer-detecting technology, has raised $33M in Series B funding. Foresite Capital Management, a Larkspur, CA-based venture capital firm focused on healthcare technology and services, led this round of funding, with other existing investors Civilization Ventures, Bluebird Ventures, Pear Ventures, Agent Capital, Stanford University, and University of Colorado Healthcare Innovation Fund. Read the press release here.

• NSM Insurance Group, a Conshohocken, PA-based provider of intermediary services for commercial property and casualty insurance firms, has acquired ISO Student Health Insurance, a New York, NY-based insurance brokerage firm intended to meet the needs of international students. Click here for more on the acquisition.

• Owens & Minor (NYSE:OMI), a global healthcare solutions company has entered into a definitive agreement to acquire Rotech Healthcare Holdings, a privately held home-based care business for a net purchase price of ~$1.36B. Read the press release here.

• R1 RCM Inc. (NASDAQ: RCM), a provider of technology-driven solutions that transform the patient experience and financial performance of healthcare providers, announced that it has entered into a definitive agreement to be acquired by investment funds affiliated with TowerBrook Capital Partners and Clayton, Dubilier & Rice, in an all-cash transaction with an enterprise value of approximately $8.9B. Click here to learn more.

• Spear Bio, Inc., a Woburn, MA-based developer of ultrasensitive protein detection technology has raised $45M in Series A funding. Foresite Capital and Bio-Techne Corporation led the Series A as new investors. Existing investors CDH Investments, Maverick Ventures, and Yonjin Capital also participated in the Series A. Read about the investment here.

• Stryker (NYSE:SYK), a Portage, MI-based designer and manufacturer of medical equipment, instruments, consumable supplies, and implantable devices, has acquired MOLLI Surgical, a Deerfield, IL-based developer of surgical devices designed to conduct breast cancer treatments. View the press release here.

• The Vistria Group, a Chicago, IL-based private equity firm focused on healthcare and financial services, has acquired Soliant, an Atlanta, GA-based healthcare staffing firm, from Olympus Partners, a Stamford, CT-based private equity firm. 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.