Week of November 15th 2021 | Vol. 10, Issue 46
In This Issue
Featured Headlines
Recent Industry Transactions
Industry Trading Comps
Recent Industry Headlines
Market Reports
Upcoming Events

Quick Links

Contact Information
Managing Director
Business Development

Managing Director
Head of M&A and Capital Advisory

Above is an overview of recent industry M&A activity. For additional information, see the charts below or click on the chart above to download complete transaction tables broken out by industry sub sectors.

For more information about our consumer healthcare JV with The Emerson Group, Daybreak Consumer Care, click here.
Recent Materials Providing Insight Into Healthcare Related Industries
Current M&A Pipeline
Representative Current Retained Sell-Side And Partnering Opportunities
Project Alamo
Sell-side | CMO | Corporate Carve out - private label and OTC manufacturing business

Project Athena
Sell-side / Licensing | Medical Device | Novel device for pelvic organ prolapse

Project Focus
Sell-side | CMO | Liquids and Semi-solids CMO headquartered in North America

Project Nucleus
Buy-side| CDMO | North American radiopharmaceutical company

Project Power Play
Buy-side | Specialty Pharma | In-license and acquire approved Rx products including legacy brands, generics, and niche launch-ready products

Project Trident
Buy-side | Generic Pharma | Manufacturing liquid generics
Last week, Bourne Partners Managing Directors Jeremy Johnson and Xan Smith attended CPhI Worldwide in Milan, Italy. They enjoyed meeting, networking, and re-connecting with those who attended. Thank you to everyone who took the time to meet with us, as well as CPhI for hosting an outstanding event.

If you didn't get a chance to see us in person at CPhI Worldwide, catch us at our next in-person event for the JP Morgan Healthcare Conference in San Francisco from January 10th through 13th, 2022. Reach out to Xan Smith or Calli Lewis to connect at this event, and visit our events page for all of our upcoming event information.
Managing Director - Business Development
An Overview of Transactions Within Market Sub-segments
Below are summaries and charts with the past week's transactions from the different healthcare sectors. For a detailed table showing data for each industry transaction click on any of the charts. Total transaction values are provided in USD millions.
Pharma & Biotech
8 transactions totaling $3,085 million
Supplies, Equipment & Services
12 transactions totaling $3,260 million
Healthcare IT & Managed Care
5 transactions
Healthcare Facilities & Distributors
7 transactions totaling $1,445
Pharma & Biotech
33 transactions totaling $1,168 million
Supplies, Equipment & Services
24 transactions totaling $489 million
Healthcare IT & Managed Care
13 transactions totaling $227 million
Healthcare Facilities & Distributors
2 transactions totaling $9 million
Pharma & Biotech
17 transactions totaling $2,314 million
Supplies, Equipment & Services
9 transactions totaling $956
Healthcare IT & Managed Care
1 transaction totaling $30
Healthcare Facilities & Distributors
1 transaction totaling $279
A Breakdown of Relevant Trading Multiples
Each week, we provide updated trading comps for leading companies from numerous healthcare sub-sectors.
To the right you will see a high-level breakdown of median revenue and EBITDA multiples for each of the specific sub sectors.

For a complete trading comp analysis (including the individual equities that comprise the sub sectors), click on the table. 

Note: data reflects prior week close.
A Sampling of Relevant Industry Headlines from Last Week
Below are snippets from relevant industry news articles from the past week. For additional information or the article's complete text, click the headline link to view the original publication.
November 8, 2021 - Fierce Healthcare
Two months after it announced its acquisition of global home care provider Home Instead, home and senior care platform Honor scored $70 million in series E funding and $300 million in debt financing. The round, which brings Honor's total equity funding to date to $325 million, boosts the company to "unicorn" status as the company is now valued at $1.25 billion, according to the company.

November 8, 2021 - Fierce Biotech
The U.K. is continuing to chip away at the backlog of patients waiting for routine medical care through the National Health Service, a pile-up that was hugely exacerbated by the COVID-19 pandemic and could potentially be further worsened by the upcoming cold and flu season. Approximately 1.5 billion diagnostic tests are conducted in England each year, according to the NHS, which is hoping that digitizing the process will improve efficiency across the entire health service.

November 9, 2021 - Fierce Biotech
It appears a $1.2 billion biobucks pact with Vertex wasn't enough for Arbor Biotechnologies. The biotech added to its treasure chest with $215 million in series B funds to bankroll work in liver and central nervous system diseases. The financing will help the Cambridge, Massachusetts, biotech get closer to the clinic, though it's keeping mum on exact targets for now. The only condition not kept under wraps is Arbor's lead candidate in primary hyperoxaluria, a rare, inherited condition in which the liver produces too little of a protein that prevents too much output of oxalate, a compound that can cause kidney stones.

November 10, 2021 - Fierce Biotech
After pivoting during the coronavirus pandemic from providing whole-genome sequencing and genetic counseling to developing COVID-19 tests and coordinating vaccine delivery, Color has now set its sights on building a population health infrastructure that makes screening, diagnostics and early treatment more accessible to all patients. To do so, the San Francisco-based company has turned to a group of venture capital investors—led by Kindred Ventures and funds and accounts advised by T. Rowe Price Associates—who contributed a collective $100 million to Color’s coffers.
Events Hosted or Attended by Bourne Partners

Dates TBD - Charlotte, NC

January 10-14, 2022 - San Francisco, CA

Early Access Programs can provide rare disease patients with access to critical medicines outside of clinical trials. Check out Tanner’s recent article outlining these opportunities on Patient Worthy: Rare Patient News.   
Key directors will attend World Orphan Drug Congress and several other industry events throughout Nov. and Dec. Let’s connect!
Welcome to Bourne, let's talk.

Since our founding in 2001, Bourne Partners has remained focused on fulfilling the unique needs of established, middle-market healthcare and pharmaceutical companies across the globe. Our track record includes advising middle market companies in healthcare M&A assignments totaling more than $7 billion, and growing companies into successful and well-positioned pharmaceutical enterprises.