Ares Management Equity Group invests US$ 1.4 billion in DuPage Medical
Biotechnology I Medical devices I Pharmaceutical I Hospitals I r&d
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Evotec will acquire Aptuit for US$ 300 million
Fresenius Medical to Acquire NxStage Medical for US$ 2.0 billion
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Cantel Medical Completes Acquisition of BHT Group in Germany
CANTEL MEDICAL CORP., announced that it has completed its previously announced acquisition of BHT Hygienetechnik Holding GmbH ("BHT Group"), the German market leader in automated endoscope reprocessing and related equipment and services as well as flexible endoscope repair.
About Cantel Medical
Cantel Medical is a leading global company dedicated to delivering innovative infection prevention products and services for patients, caregivers, and other healthcare providers which improve outcomes, enhance safety and help save lives. Our products include specialized medical device reprocessing systems for endoscopy and renal dialysis, advanced water purification equipment, sterilants, disinfectants and cleaners, sterility assurance monitoring products for hospitals and dental clinics, disposable infection control products primarily for dental and GI endoscopy markets, dialysate concentrates, hollow fiber membrane filtration and separation products. Additionally, we provide technical service for our products. Read more...
Columbia China Starts Construction on $150M Hospital in Jiaxing, China
Columbia China, a 50-50 joint venture between Seattle’s Columbia Pacific Management and Singapore investment company Temasek, started construction on a 500-bed multi-specialty hospital in Zhejiang Province.
Columbia Jiaxing Hospital, which is set to open in 2019, will cost US $150 million (RMB 1 billion) to construct and is Columbia China’s second greenfield hospital.
Columbia China currently operates Shanghai Kaiyuan Orthopedic Hospital (232 beds), two multi-specialty clinics, and three senior living facilities in Shanghai and Beijing. The company also has a growing pipeline of other projects, including hospitals and senior living facilities.
Columbia China chose the city of Jiaxing for its new hospital because of the city’s strategic location in Zhejiang Province and its population of 4.5 million people, with strong demand for quality healthcare services. The hospital will be located within the Jiaxing Economic and Technological Development Zone, which has been positioned by the Jiaxing government as a platform for local advanced manufacturing, modern services and urbanization.
Columbia China broke ground on the new hospital today, just eight months after acquiring the land.
“The speed is unprecedented and unheard of in China for a foreign hospital investment,” said Bee Lan Tan, President & Group CEO of Columbia China. “This would not have been possible without the commitment and efficiency of the Jiaxing government. Columbia China remains dedicated to bringing more international talent and resources to Jiaxing, so that the needs of the local population can be well served.” Read more...
Samsung Bioepis & Takeda agreement to Co-Develop Multiple Novel Biologic Therapies
Samsung Bioepis Co., Ltd. announced that it has entered into a strategic collaboration agreement with Takeda Pharmaceutical Company Limited to jointly fund and co-develop multiple novel biologic therapies in unmet disease areas. The two companies will immediately begin working on the program’s first therapeutic candidate, TAK-671, which is intended to treat severe acute pancreatitis.
“Takeda’s extensive knowledge and expertise in drug development makes the company an ideal partner for us as we open a new chapter at Samsung Bioepis,” said Christopher Hansung Ko, President and CEO, Samsung Bioepis. “Five years ago, we entered the biopharmaceutical industry with a strong determination to transform the way therapies are brought to patients by replacing legacy processes with new and innovative ones. Together with Takeda, we look forward to realizing this vision by accelerating the development of effective therapies for patients who are currently without a viable treatment option.”
The risk-sharing partnership brings together Samsung Bioepis’ agile biologics development platform with Takeda’s best-in-class experts in drug development to co-fund and collaboratively develop innovative therapies representing meaningful value to patients who need them. Additional terms of the collaboration are not being disclosed. Read more...
IHMML Acquires License to Produce Medical Cannabis in New Brunswick
Health Canada has issued a License to Cultivate to IHMML’s Atholville facility
International Herbs and Medical Marijuana Ltd is pleased to confirm that Health Canada has issued a License to Cultivate for its Atholville facility.
Combined with an earlier License for its Delta, BC facility, the Company now has a Coast to Coast presence.
“This is a significant milestone and the result of hard work on the part of our staff and contractors” stated CEO Kevin Coft. “This would not have been possible without the assistance of our MP, Rene Arsenault, our MLA’s Donald Arsenault and Giles LePage and the financial investment of both Opportunity New Brunswick and the Listiguji Government.
Coft expects to commence production within a few weeks. “We expect to hire approximately 40 employees over the next few months. To date we have invested approximately $15 million in the local economy. Concurrent with our cultivation activity, we plan to continue to expand our facility to create additional production capacity. Once fully built, we expect to create approximately 400 local jobs.” Read more..
IFC Invests in Nobel Ilac To Improve Access To High-Quality Medicine in Turkey
IFC, a member of the World Bank Group, is providing a $25 million loan to Nobel Ilac, a leading pharmaceutical company in Turkey and the country’s only net exporter in the sector, to help meet the growing demand for innovative, affordable, and high-quality medicine in Turkey.
IFC’s loan will support Nobel Ilac’s research and development efforts and help the company ramp up production. Turkey is largely dominated by branded generic products. IFC’s support will also allow Nobel Ilac to expand its product portfolio to include specialized generic medicine. This will enable millions of the company’s customers in Eastern and Central Europe to obtain affordable and high-quality medicine.
Nobel Ilac Chairman Hasan Ulusoy said: “Biotechnological drugs provide opportunities for sustainable health care systems. In our country, it is urgent to shift to production of biotechnological drugs in parallel with the developments in the world. Nobel Ýlaç considers biotechnology as a strategic priority and with the support of IFC’s investment we aim to develop at least one domestic biotechnological drug by 2023.”
Dimitris Tsitsiragos, IFC Vice President of New Business, said: “Our investment in Nobel Ilac is in line with our strategy in Turkey to support the export-oriented growth and international expansion of Turkish companies. Nobel will introduce locally produced, high-value-added medicines to local and international markets and, at the same time, help to close the pharmaceutical trade deficit in Turkey.”
HOYA Corporation Completes Acquisition of Performance Optics, LLC
HOYA Corporation, announced the completion of the acquisition of Performance Optics, LLC (Performance Optics), including its subsidiaries VISION EASE and Daemyung Optical. Performance Optics is an international manufacturer of ophthalmic lenses that specializes in polycarbonate, photochromic, polarized and high index lenses.
The acquisition complements the HOYA Life Careportfolioand further expands both the geographic reach of HOYA and its product offering in its HOYA Vision Care division.
"We focus on the needs and challenges of eye care professionals and the industry in everything we do. We are a true partner that helps them differentiate themselves from the competition by delivering value to their business, rather than acting as their rival "Said Girts Cimermans, CEO of HOYA Vision Care. "Performance Optics enriches HOYA with additional capabilities and offerings in polycarbonate, photochromic and polarized lens technologies, and expands our global footprint in the high-index lens range. This strengthens our position as a world leader in technology and offers Eye care professionals and the industry more sales and marketing support they want and need.
Performance Optics is an international eyeglasses manufacturer that employs more than 2,000 people worldwide. With production facilities in the United States, South Korea , China , Thailand and Indonesia , Performance Optics addresses the integral needs of customers in the ophthalmic lens sector. Read more...
Evotec will acquire Aptuit for $300 mn
Evotec AG and Aptuit announced that they have entered into a definitive agreement under which Evotec will acquire Aptuit for $ 300 m. This transaction will strengthen Evotec's position as the leading global player in the external innovation marketplace.
As a partner research organisation for integrated outsourced drug discovery and development solutions, Aptuit offers highly synergistic scientific expertise across drug discovery, pre-clinical testing and both drug substance and drug product manufacturing to its Biopharma partners. The acquisition will add considerable business opportunities to further accelerate Evotec's long-term strategy to be the industry partner of choice for external innovation.
Combination provides a more comprehensive and efficient offering
Aptuit provides a complete set of integrated early discovery to mid-phase drug development services in the biotech and pharmaceutical industry with a proven track record over many years. As a partner, it is defined by its excellence in science, defined outcomes, highly efficient solutions and accelerated timeframes to progress drugs to clinical testing.
Aptuit has approx. 750 employees, mainly scientists, working across three state-of-the-art discovery, development and manufacturing facilities in Europe (Verona, Italy; Basel, Switzerland; and Oxford, United Kingdom). Completing more than 1,000 projects in 2016 (for over 400 customers), Aptuit has a very strong network in small, medium and large Biopharma and a high level of repeat business. Read more...
Cardinal Health Buys Medtronic Units
for $6.1 billion
Cardinal Health, announced that it has completed the acquisition of Medtronic's Patient Care, Deep Vein Thrombosis and Nutritional Insufficiency business for $6.1 billion. The acquisition was funded with a combination of $4.5 billion in new senior unsecured notes, existing cash and borrowings under our existing credit arrangements.
"This business provides our customers with more product offerings and includes some well-established brands that fit naturally within our portfolio and are complementary to our current medical products business. We know these products and many of the employees well, and have seen that our team members share a common commitment to quality, customer service and the patients who we all ultimately serve," said George Barrett, chairman and CEO of Cardinal Health. "We are extremely excited about welcoming our new colleagues from around the world to Cardinal Health."
The Patient Care, Deep Vein Thrombosis and Nutritional Insufficiency business encompasses 23 product categories across multiple market sites of care, including numerous industry-leading brands, such as Curity, Kendall, Dover, Argyle and Kangaroo – brands used in nearly every U.S. hospital.
The company also previously announced that it expects the acquisition to be accretive to non-GAAP¹ diluted earnings per share from continuing operations by more than $0.21 per share in fiscal 2018, net of incremental annual financing-related interest expense, and includes up to $100 million of inventory step-up costs during the first few quarters following closing.
As previously disclosed, the company still expects the acquisition to be accretive to non-GAAP diluted earnings per share by more than $0.55 per share in fiscal 2019, and increasingly accretive thereafter. By the end of fiscal 2020, the company assumes synergies will exceed $150 million.
The Patient Care, Deep Vein Thrombosis and Nutritional Insufficiency business will become part of Cardinal Health's Medical segment, which is led by Don Casey, the segment's chief executive officer. Integration efforts are off to a successful start and it is expected that all integration work and transitions will be completed over the next 18 months. Read more...
Avara Pharmaceutical Services acquires Sterile facility from Pfizer in Italy
Avara Pharmaceutical Services has signed an agreement with Pfizer Inc. to acquire the Liscate, Italy sterile manufacturing facility. "This acquisition is an important component of our strategic plan and expands our services by adding sterile processing capability, which is in very high demand," stated Timothy C. Tyson, Chairman and CEO.
Avara Pharmaceutical Services is a state-of-the-art contract manufacturing and technical services organization providing both API formulation and manufacturing, along with secondary formulation, manufacturing and packaging of small molecule drugs, including highly potent compounds. Avara has secondary manufacturing technologies including granulation, coating, blending, encapsulation, compression and drying of tablets and capsules.
Avara Pharmaceutical Services now has six sites. Two in the US, including the corporate HQs; one in Puerto Rico, one in the UK, one in Ireland and this new additional site in Italy.
Norwalk, CT (USA) - Corporate HQ
Arecibo, Puerto Rico -Secondary manufacturing and packaging
Shannon, Ireland -API formulation and manufacturing
Norman, OK (USA) -Secondary manufacturing and packaging
Avlon, United Kingdom –API formulation and manufacturing
Liscate, Italy-Sterile Manufacturing
"As we celebrate another important milestone, we continue with great confidence to build a pharmaceutical services company with complementary offerings in key regions in this rapidly growing market. Each site has significant professional experience, state of the art capability and a long history of delivering high quality pharmaceuticals that meet or exceed customer expectations and regulatory requirements in every major market around the world. The people who are a part of the Avara team are the key to our long-term success," said Tyson. "We are focused on delivering on our commitments and earning the trust of every customer we deal with." Read more...
Envision Healthcare sells its Ambulance Business to KKR
for $2.4 Billion
Envision Healthcare Corporation, and an entity controlled by funds affiliated with KKR have entered into a definitive agreement under which KKR’s portfolio company, Air Medical Group Holdings (AMGH), and Envision’s medical transportation subsidiary, American Medical Response (AMR), will combine to create a new industry leading medical transportation company. The transaction will be structured as a cash acquisition of AMR from Envision valued at $2.4 billion.
The combination of AMGH and AMR will create an integrated medical transportation company with the capability to serve patients across multiple transport modalities in the patient’s time of need. The combined company is expected to transport more than five million patients per year through a fleet of air and ground ambulances across 46 states and the District of Columbia.
“We are pleased to have identified a strong partner for American Medical Response,” said Christopher A. Holden, Envision’s President and Chief Executive Officer. “The Envision leadership team conducted a robust process to review strategic alternatives for AMR. The agreement delivers on our commitment to continue the proud tradition of AMR and enables Envision to focus on its physician-centric strategy and ongoing services, including facility-based provider services, post-acute care and ambulatory surgery.”
“AMGH and AMR are preeminent providers of medical transportation responsible for delivering care to millions of patients every year. We are pleased to be able to bring together these two great companies and look forward to supporting the growth of the combined business,” said Jim Momtazee, Chairman of AMGH and Head of KKR's Health Care industry team. Read more...
PharMerica Corp. to Be Acquired by KKR
in a 1.4 Bn Deal
PharMerica Corporation, a national provider of institutional pharmacy, specialty infusion and hospital pharmacy management services, announced that it has entered into a definitive merger agreement pursuant to which a newly formed company controlled by KKR,
with Walgreens Boots Alliance, Inc. (Nasdaq:WBA) as a minority investor, will acquire PharMerica. The all-cash transaction is valued at approximately $1.4 billion including the assumption or repayment of debt. Upon completion of the transaction, PharMericawill become a private company.
Under the terms of the agreement, PharMerica shareholders will receive $29.25 in cash for each share of PharMerica common stock upon closing of the proposed transaction. The price represents a premium of approximately 17 percent to PharMerica’s closing share price as of the last trading day prior to announcement and a premium of approximately 18 percent to PharMerica’s 90-day volume weighted average price. The acquisition agreement was unanimously approved by the Board of Directors of PharMerica.
Gregory S. Weishar, PharMerica Corporation's Chief Executive Officer, said, “Following a thorough process and review of the Company’s strategic alternatives, and with the assistance of our advisors, we are pleased to have reached this agreement. This transaction will deliver immediate and compelling value to all PharMerica shareholders, as well as substantial benefits to our clients and employees.”
PharMerica is an innovative leader in the institutional pharmacy industry,” said Jim Momtazee, Head of KKR’s Health Care investment team. “KKR and Walgreens Boots Alliance are excited to partner with PharMerica’s management and employees to build upon the company’s successful foundations and accelerate its future growth.”
“This is an opportunity to expand into a growing segment, and to do so through a national footprint,” said Alex Gourlay, Walgreens Boots Alliance co-chief operating officer. “As the healthcare landscape and patients’ needs continue to change, this is another way we can support quality, affordable patient care.” Read more...
Aclaris Therapeutics, Inc. a dermatologist-led, biopharmaceutical company focused on identifying, developing and commercializing innovative and differentiated therapies to address significant unmet needs in medical and aesthetic dermatology, announced that it has acquired Confluence Life Sciences, Inc.(“Confluence”), a privately held biotechnology company focused on the discovery and development of kinase inhibitors to treat inflammatory and immunological disorders and cancer. At the closing, Aclaris paid approximately $10 million in cash and issued approximately 350,000 shares of its common stock, with a value of approximately $10 million on the closing date, to the former equityholders of Confluence.
Assets - This strategic acquisition expands Aclaris’ inflammation and immunology pipeline with the addition of Confluence’s lead product candidates: CDD-450, a novel MK-2 pathway inhibitor, topical Janus kinase inhibitors (“soft JAK”), and IL2-inducible T-cell kinase (“ITK”) inhibitor programs:
CDD-450 is a novel MK-2 pathway inhibitor and will be studied in relation to regulation of TNF-α and IL-1β via the p38/MK-2 kinase pathway. The p38/MK-2 pathway is a transducer of inflammation, and selective inhibitors of the MK-2 pathway are being investigated for their potential ability to block inflammatory cytokine production and activity and thereby restore balance to the body’s immune system. MK-2 inhibitors have the potential to treat patients with a variety of autoimmune diseases such as psoriatic arthritis, inflammatory bowel disease, and rheumatoid arthritis. CDD-450 is being developed as an oral alternative to anti-TNF/IL-1 biologics.
Soft JAK inhibitors may be topically applied and active in the skin, but will be rapidly metabolized and inactivated when they enter the bloodstream, which may result in significantly reduced systemic exposure. The JAK family of kinases are a subgroup of non-receptor tyrosine kinases that are essential in transducing signals originating from cytokine receptors, and whose enzymatic activity is essential for the biological activity of the cytokines in the immune system. JAK inhibitors may be useful for treating inflammatory and autoimmune disorders such as alopecia areata, vitiligo, atopic dermatitis and others.
ITK inhibitors are non-receptor tyrosine kinase inhibitors of the activity of IL2-inducible T-cell kinase (ITK), thereby interfering with the development and effector function of immune system T-cells. ITK is a key signaling component of all T-cell receptors (“TCRs”) and is also key for regulating IL-17 expression. The combination of inhibiting TCRs (inhibiting T-cell maturation and activation) as well as IL-17 means an ITK inhibitor can be thought of as a “small molecule anti-IL-17”, but with broader immunomodulatory activity. ITK inhibitors have potential therapeutic applications in autoimmune and inflammatory diseases such as psoriasis and atopic dermatitis.
Aclaris Therapeutics Acquires
Confluence Life Sciences, Inc.
Fresenius Medical to Acquire NxStage Medical
for USD 2.0 Billion
Fresenius Medical Care, the world's largest provider of dialysis products and services, has signed an agreement to acquire NxStage Medical, Inc., a U.S.-based medical technology and services company.
NxStage, which just like Fresenius Medical Care North America, has its headquarters in the Boston, Massachusetts area, was founded in 1998 and has approximately 3,400 employees. It develops, produces and markets an innovative product portfolio of medical devices for use in home dialysis and in the critical care setting. In 2016, NxStage delivered USD 366 million in revenue.
Fresenius Medical Care intends to acquire all outstanding shares of NxStage through a merger for USD 30.00 per common share, thus the transaction would be valued at approximately USD 2.0 billion. The merger, which has been approved by NxStage's board, is subject to approval of NxStage stockholders, receipt of regulatory approvals and other customary closing conditions. Fresenius Medical Care currently expects the closing to occur in 2018.
This acquisition enables Fresenius Medical Care to further leverage its manufacturing, supply chain and marketing competencies across the dialysis products, services and care coordination businesses in a less labor- and capital-intensive care setting.
Bristol-Myers to buy IFM Therapeutics for $300 Million
Bristol Myers Squibb (BMS) announced that it had entered into an agreement to acquire IFM Therapeutics, a smaller biotech company focused on developing therapies that modulate novel targets in the innate immune system to treat cancer, autoimmunity and inflammatory disorders. Pursuant to the agreement, IFM Therapeutics is to receive $300 million upfront with the potential of up to an additional $2.02 billion in milestone payments.
IFM has developed pre-clinical small molecule activators and inhibitors that modulate the immune system. Their small molecules are designed to be used as anti-cancer drugs and against autoimmune disorders.
"While the targets of IFM's small molecules are entirely different from those of Regen's NR2F6 program, the disease programs and the small molecule approach are similar," said Harry Lander, Ph.D., President and Chief Scientific Officer of Regen BioPharma Inc. "It is evident that the need for novel small molecules to attack these diseases is great and that novel targets, like NR2F6, are very important." Read more...
Ares Management Equity Group invests $1.4 Bn in DuPage Medical
DuPage Medical Group, one of the nation’s largest independent, multi-specialty physician groups, announced the closing of a strategic partnership with funds managed by the private equity group of Ares Management, L.P., the global alternative asset management firm. The investment by Ares will enable continued support for growth initiatives across the entire organization, including DMG’s practice management company, DMG Practice Management Solutions, and DMG’s subsidiary, Boncura Health Solutions. The $1.45 billion transaction closed on August 15, 2017.
Under the terms of the transaction, DMG’s physician group, DuPage Medical Group Ltd., will remain 100% physician owned and-directed, and DMG physicians will retain a significant ownership stake in the practice management company. As part of its investment, Ares also acquired Summit Partners’ stake in DMG Practice Management Solutions, and Summit will exit as an investment partner.
“As DMG continues to grow in size and scale, it is critically important for our organization to remain independent and physician-led,” said DMG CEO Mike Kasper. “Ares understands and supports our core mission, which is to maintain and enrich our patient-focused, doctor-directed culture. This partnership, which will particularly benefit our subsidiary Boncura, provides unprecedented access to capital and strategic backing for DMG’s growth initiatives, such as population health, expansion into new geographies and additional service offerings. We believe this endeavor will ultimately enhance our ability to reach and treat patients. This is our path forward.”
Mr. Kasper specified that DMG patients should expect to see additional service lines, sites of care and physicians as a result of the partnership. This growth will allow DMG to enhance its integrated outpatient delivery model and further enhance its efforts to provide quality, efficiency and access to patients. Read more...
IFC, a member of the World Bank Group, helped the Government of the Kyrgyz Republic improve dialysis treatment for patients suffering from kidney failure, part of the Government’s effort to improve patients access to high-quality health services in the Kyrgyz Republic.
Every year, more and more people are suffering from kidney failure in the Kyrgyz Republic, and only 20% of patients that need lifesaving dialysis treatment have access to it through public health facilities.
The Ministry of Health signed a landmark public-private partnership (PPP) agreement today with Germany company, Fresenius Medical Care, which won a competitive bidding process to provide dialysis services. Fresenius Medical Care is a global leader in dialysis services.
"We have been actively working to collaborate with the private sector to meet the growing needs for high-quality healthcare services," said Talantbek Batyraliev, the Kyrgyz Republic's Minister of Health. "We are now happy to sign this first-of-its-kind, market-changing PPP agreement which will ensure our citizens have access to high-quality, international-quality dialysis treatment from the global leader in dialysis services."
The partnership will ensure the company provides all-inclusive dialysis treatment to the people of Bishkek and two other densely populated regions, known as oblasts, covering about 75 percent of the Kyrgyz population. The new dialysis centers are part of a Ministry of Health program to improve the country’s healthcare infrastructure, including through the use of public-private-partnerships.
At the request of the Ministry of Health, IFC provided advice and expertise in implementing the project, which is the first developed under the Ministry of Health’s public-private partnership program. The dialysis project is expected to deliver high-quality services in accordance with the best industry standards, save the government money, and expand access of dialysis services to more patients. Read more..
IFC Helps Kyrgyz Republic Improve Access to High-Quality Healthcare Services
FOREIGN DIRECT INVESTMENTS AND M&A REVIEW
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