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 October 22, 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 - October 16, 2024.

• Alchemy Health, an operator of in-house pharmacies for STD clinics, closed its $31M seed financing. The round was led by Andreessen Horowitz with participation from Earvin "Magic" Johnson, Sandberg Bernthal Venture Partners, Banc of California and existing investors Twine Ventures, Springbank and AlleyCorp. Read more about the financing here.
• American Family Care, a provider of urgent care, accessible primary care, and occupational medicine, acquired all three Urgent Medcare locations, which were previously owned by CRH Healthcare. The acquired medical facilities are located in Huntsville, Madison, and Meridianville, AL. Click here to learn more about the acquisitions.
• AscellaHealth, a global partner delivering customizable solutions to support the specialty pharmaceutical industry, acquired CHAPPER healthcare, a global specialty pharmaceutical wholesaler, distributor and services provider. Read more about the acquisition here.
• Bluesight, a provider of Medication Intelligence™ solutions for health systems and hospital pharmacies, acquired Sectyr, a top-tier compliance and audit management platform. View the press release here.
• ClinicMind, a provider of comprehensive practice management and full-cycle patient care solutions, acquired ChiroDominance, a patient engagement and marketing hub. Read more about the acquisition here.
• CodexIT, a provider of healthcare technology solutions, managed services, clinical consulting, and analytics, acquired Marsden's Kyval, a data migration, validation, and archiving company based in New York City. Learn more about the acquisition here.
• Connie Health, a Boston-based tech-enabled Medicare navigation platform, acquired Keen Insurance Services, a company built at Redesign Health. Read more about the acquisition here.
• Frazier Healthcare Partners acquired DirectMed Imaging, a provider of aftermarket parts and component repairs for diagnostic imaging equipment, from NMS Capital. TripleTree served as exclusive financial advisor to Frazier Healthcare Partners for this transaction. View the announcement here.
• Healthie, an API-first EHR, scheduling, and engagement platform, raised $23M Series B, led by TCV with participation from existing investors including Birchmere, Velvet Sea Ventures, Greymatter, and Watershed. Learn more about the funding here.
• Hologic (NASDAQ: HOLX), a medical technology company focused on women's health, signed a definitive agreement to acquire Gynesonics, a privately held medical device company focused on the development of minimally invasive solutions for women’s health. The transaction values Gynesonics at approximately $350M. Read more about the acquisition here.
• Lundbeck, a Danish biopharma company, announced an agreement to acquire Longboard Pharmaceuticals (NASDAQ: LBPH), a clinical-stage biopharma company focused on developing medicines for neurological diseases. Click here for more on the acquisition.
• Nuclera, a biotechnology company focused on accelerating protein expression and purification workflows, completed a $75M financing round. The fundraise was led by Elevage Medical Technologies, backed by Patient Square Capital, and joined by British Patient Capital. View the announcment here.
• Oshi Health, a virtual-first gastrointestinal care clinic, raised $60M in Series C funding led by Oak HC/FT with participation from existing investors Bessemer Venture Partners, Flare Capital Partners, Frist Cressey Ventures, CVS Health Ventures, and Takeda Digital Ventures. Read more about the funding here.
• Plastic Design Corporation, a contract manufacturer specializing in precision micro molded parts and services for the medical device and life sciences industries, acquired Resenex, a manufacturer of fluid flow products for medical and industrial applications. Learn more about the acquisition here.
• Preferred Physical Therapy, a Missouri-based, private physical therapy practice group, acquired Elite Sports Medicine & Physical Therapy, a therapist-owned physical therapy practice located in Leawood, KS. View the press release here.
• ProductLife Group, a provider of regulatory and compliance services for the life sciences industry, acquired Halloran Consulting Group, a life science consulting firm that provides strategic regulatory, quality, clinical, and organizational support in the pharmaceutical, biotechnology, and medical device sectors. Read more about the acquisition here.
• Red Nucleus, a provider of strategic services across research and development, medical affairs, market access, and learning and development, received a majority investment from THL Partners. Click here to learn more about the investment.
• Surescripts, the nation’s leading health information network, announced that TPG, a global alternative asset management firm will join the Surescripts ownership group as a majority investor. TPG is investing in Surescripts through TPG Capital, the firm’s U.S. and European private equity platform. TripleTree served as exclusive financial advisor to Surescripts for this transaction. View the announcement here.
• Terray Therapeutics, a biotechnology company focused on transforming the speed, cost, and success rate of small molecule drug development using computation integrated with novel data at scale, announced Series B funding of $120M. The round was led by new investor Bedford Ridge Capital and existing investor NVentures (NVIDIA’s venture capital arm), with participation from new and existing investors including Maverick Capital, Goldcrest Capital, Madrona Ventures, Two Sigma Ventures, XTX Ventures, Digitalis Ventures, and Alexandria Ventures. Read more about the funding 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.