Week of March 21, 2023 | Vol. 12, Issue 11


In This Issue

Upcoming Events

Industry M&A Activity

Recent Transactions

Trading Comps

Market Reports

M&A Pipeline

Featured Headlines

Tanner Updates

Quick Links

Who We Are

M&A Discussion Group

Daybreak Consumer Care

Carlin Consumer Health

Contact Information

Xan Smith

Managing Director

Business Development


Jeremy C. Johnson

Managing Director

Head of M&A and Capital Advisory


Industry Snapshot
Above is an overview of recent industry M&A activity. Click on the chart to view complete transaction tables broken out by industry sub sectors. For additional information, see the Industry M&A Activity section below.
Events Hosted or Attended by Bourne Partners

CHPA 2023

March 19-21, 2023 - Orlando, FL

DCAT Week 2023

March 20-23, 2023 - New York City, NY

CPHI-North-America-logo-web image
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CPHI North America

April 25-27, 2023 - Philadelphia, PA


April 25-27, 2023 - New York City, NY

Recent Transactions, Trading Comps, Market Reports, M&A Pipeline
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

6 transactions totaling $47.4 billion

Supplies, Equipment & Services

12 transactions totaling $3.6 billion

Healthcare Facilities & Distributors

7 transactions

Healthcare IT & Managed Care

2 transactions


Pharma & Biotech

28 transactions totaling $368 million

Supplies, Equipment & Services

21 transactions totaling $305 million

Healthcare Facilities & Distributors

1 transaction

Healthcare IT & Managed Care

4 transactions totaling $52 million


Pharma & Biotech

14 transactions totaling $620 million

Supplies, Equipment & Services

6 transactions totaling $59 million

Healthcare Facilities & Distributors

0 transactions

Healthcare IT & Managed Care

0 transactions


A Breakdown of Relevant Trading Multiples

This is a high-level breakdown of median revenue and EBITDA multiples for each of the specific sub sectors.

Insight Into Healthcare Related Industries

Pharma Services Sector Snapshot 1H 2022

August 2022

Market Insight Capital Markets Update

October 2022


Representative Current Retained Sell-Side And Partnering Opportunities

Project Beach

Pharma Services | Sell-Side

Acquisition opportunity of Clinical Trial Services Provider

Project Elevate

Pharma Services | Capital Raise

Investment opportunity in Digital Health patient adherence platform

Project Ester

Consumer Health | Strategic Partnering 

Partnering opportunity for launch and commercialization of novel OTC dry eye product

Project Gateway

Pharma | Sell-Side

Acquisition opportunity of US specialty generics platform and portfolio

Project Harold

Pharma Services | Sell-Side

Acquisition opportunity of U.S. based Sterile CDMO

Project Pine

Pharma Services | Capital Raise

Investment opportunity in sterile injectable Pharmaceutical Manufacturer 

Project Power Play

Pharma | Buy-Side

Seeking established brands across all therapeutic categories or growth assets in Neurology / CNS

Project Trident

Pharma | Buy-Side

Seeking generic liquids or established brands across all formats sold through the hospital / institutional channel


A Sampling of Industry Headlines

With $43B buyout, Pfizer sees cancer specialist Seagen as a 'goose' laying 'golden eggs'

Fierce Pharma - Mar 13, 2023

Porton Advanced and Bennu Biotherapeutics Announced a Strategic Partnership to Accelerate Cell Therapy Development for Solid Tumors

PR Newswire - Mar 13, 2023

Catamaran Bio selects OmniaBio as partner to develop and manufacture allogeneic CAR-NK cell therapies

Business Wire - Mar 14, 2023

Merck expands deal with Greenphire to include patient ride-share program

Fierce Biotech - Mar 15, 2023

Stevanato, Recipharm Partner to Develop Pre-fillable Syringes for Soft Mist Inhaler

Contract Pharma - Mar 16, 2023

Catalent and Bhami Research Laboratory Enter into Licensing Agreement for Technology to Deliver High-Concentration Biologics Subcutaneously

Catalent - Mar 16, 2023

Bayer subsidiary BlueRock taps Rune Labs for Parkinson's study software

Fierce Biotech - Mar 16, 2023

Leucid Bio and Great Ormond Street Hospital enter commercial agreement at new gene therapy manufacturing centre

PR Newswire - Mar 16, 2023

Samsung Biologics Expands Capacity with Fifth Plant

Contract Pharma - Mar 17, 2023

53Biologics Expands its State-of-the-art Facilities

Contract Pharma - Mar 17, 2023



We Increase Access to Essential Medicines

Last month Tanner supported patients in 37 countries by delivering 76,731 units of medicine through our global access programs. Access programs are just one of the ways we enable global health equity. Learn more.

Let's Connect!

The Tanner team will be attending several networking events in the coming weeks. Let’s connect to discuss how our organizations can improve patient lives, together.