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David Jasmund

E: djasmund@pcecompanies.com

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Industry Trends

Orlando Health Acquires Three Florida Hospitals

Orlando Health has secured approval to acquire three hospitals on Florida’s Space Coast: Rockledge Regional Medical Center, Melbourne Regional Medical Center, and Sebastian River Medical Center, in a $439 million deal. The acquisition adds nearly 600 beds to the system. Orlando Health plans to enhance healthcare services at these facilities, continuing its expansion strategy. The acquisition strengthens Orlando Health's presence in East Central Florida, further solidifying its role as a regional healthcare leader.1

Johns Hopkins Appoints New Cybersecurity Chief

Healthcare companies are increasingly investing in cyber security as evidenced by Johns Hopkins appointing Janet Rathod, former global head of cyber threat intelligence at Citigroup, as Vice President and Chief Information Security Officer (CISO), highlighting healthcare's growing focus on cybersecurity. Her appointment follows recent breaches and cyberattacks, marking a key step in integrating cybersecurity for efficiency and reliability as the sector faces rising threats.2

Platinum Equity Acquires ASP Global to Expand Healthcare Supply Chain Solutions

Platinum Equity has acquired ASP Global, which is headquartered in Atlanta, Georgia. It is a strategic partner in the healthcare industry specializing in developing, sourcing, and distributing consumable medical products. ASP leverages its global sourcing network to offer customized solutions for healthcare providers, helping them manage costs and control supply chains. This acquisition reflects the growing industry focus on managing costs and streamlining supply chains.3

House Committee Passes Bill to Extend Telehealth Flexibilities

The House Committee on Energy and Commerce advanced the Telehealth Modernization Act of 2024, extending Medicare's telehealth flexibilities for two more years. This legislation drives growth for healthcare providers and telehealth businesses by maintaining Medicare reimbursement for virtual care and encouraging investment in telehealth infrastructure. It signals the solidification of telehealth in healthcare, creating long-term business opportunities and enabling companies to scale remote care services while expanding revenue streams.4

Largest Transactions Closed

  • Target
  • Buyer
  • Value($mm)
  • Cerevel Therapeutics Holdings, Inc.
  • AbbVie Inc.
  • $9,080.66
  • Morphic Holding, Inc.
  • Eli Lilly and Company
  • $3,192.00
  • Substantially All of the Over-the-Counter Business of Viatris Inc.
  • Cooper Consumer Health SAS
  • $2,063.93
  • CRAFT 1861 Global Holdings Inc.
  • Nano Cures International, Inc.
  • $2,051.83
  • Human Immunology Biosciences, Inc.
  • Biogen Inc.
  • $1,800.00
  • Nerio Therapeutics, Inc.
  • Boehringer Ingelheim International GmbH
  • $1,300.00
  • Assets of Aqua Business of Elanco Animal Health Incorporated
  • Intervet International B.V.
  • $1,300.00
  • Jnana Therapeutics Inc.
  • Otsuka America, Inc.
  • $1,125.00
  • Atrion Corporation
  • Nordson Medical Corporation
  • $814.65
  • Mirus Bio LLC
  • Sigma-Aldrich Corporation
  • $600.00

Other Financial Buyer Transactions Closed

  • Target
  • Buyer
  • Value($mm)
  • Humaneva Inc.
  • Viking Global Investors LP
  • $50.00
  • An Inpatient Rehabilitation Facility Located in Fort Smith, Arkansas
  • Sila Realty Trust, Inc.
  • $28.25
  • Magnolia Springs Florence
  • Ventas, Inc.
  • $15.40
  • Magnolia Springs Loveland
  • Ventas, Inc.
  • $13.70
  • 83-bed Skilled Nursing Facility and 28-room Assisted Living Facility in Gainesboro, Tennessee
  • Strawberry Fields REIT, Inc.
  • $6.70

Other Strategic Buyer Transactions Closed

  • Target
  • Buyer
  • Value($mm)
  • VOWST®
  • Société des Produits Nestlé S.A.
  • $510.00
  • Paragonix Technologies, Inc.
  • Getinge AB (publ)
  • $477.00
  • G1 Therapeutics, Inc.
  • Pharmacosmos Therapeutics Inc.
  • $443.31
  • Xtend Healthcare LLC
  • Coding Solutions Acquisition, Inc.
  • $365.00
  • Donatelle Plastics, Inc.
  • DuPont de Nemours, Inc.
  • $313.00

 

Source S&P Capital IQ as of 10/10/2024 and PCE Proprietary Data

PCE Transactions

Contacts

David Jasmund

Orlando Office

407-621-2111 |

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Jon Gogolak

Orlando Office

407-621-2136 |

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Data Assumptions

This report represents transaction activity as mergers & acquisitions, consolidations, restructurings and spin-offs. Targets are defined as U.S. Based companies with either foreign or U.S. based buyers. Transaction information provided is based on closed dates only.

Glossary

EBIT - Earnings Before Interest and Taxes
EBITDA - Earnings Before Interest, Taxes, Depreciation, Amortization
LTM - Last Twelve Months
TEV - Total Enterprise Value

Sources:

  1. 1. Southwick, R. “Sale of 3 Florida hospitals is approved.” Chief Healthcare, 12 September, 2024.
  2. 2. Olsen, E. “Johns Hopkins appoints cybersecurity chief.” Healthcare Dive, 17 September, 2024.
  3. 3. Platinum Equity. “PLATINUM EQUITY ACQUIRES ASP GLOBAL.” PR Newswire, 6 August, 2024.
  4. 4. Olsen, E. “House committee passes telehealth flexibility extension.” Healthcare Dive, 20 September, 2024.
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