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


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
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

BIO International 2023

June 5-8, 2023 - Boston, MA

DIA Global 2023

June 25-29, 2023 - Boson, MA

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

7 transactions totaling $741 million

Supplies, Equipment & Services

13 transactions totaling $2.3 billion

Healthcare Facilities & Distributors

9 transactions

Healthcare IT & Managed Care

3 transactions


Pharma & Biotech

23 transactions totaling $481 million

Supplies, Equipment & Services

19 transactions totaling $267 million

Healthcare Facilities & Distributors

3 transactions totaling $10 million

Healthcare IT & Managed Care

18 transactions totaling $371 million


Pharma & Biotech

14 transactions totaling $980 million

Supplies, Equipment & Services

6 transactions totaling $250 million

Healthcare Facilities & Distributors

0 transactions

Healthcare IT & Managed Care

6 transactions totaling $6.5 billion


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

Syneos in AI-focused pact with Microsoft to speed up trials

Fierce Biotech - Mar 20, 2023

Hovione and Ripple Enter Strategic Partnership to Expand Epidel® Platform into Non-Ophthalmic Space

PR Newswire - Mar 20, 2023

Adragos Pharma acquires Clinigen's development unit, Lamda Laboratories

Notimerica - Mar 21, 2023

Clario partners with Strados to offer respiratory tech for clinical trials

Fierce Biotech - Mar 21, 2023

Hovione, Laxxon Medical Partner on 3D Screen Printed Pharmaceutical Apps

Contract Pharma - Mar 22, 2023

TFS HealthScience continues global growth with expansion into Israel

Fierce Biotech - Mar 22, 2023

Pfizer acquires ADC pioneer Seagen for $43bn

Pharmaceutical Technology - Mar 23, 2023

Moderna and Generation Bio partner for genetic medicines development

Pharmaceutical Technology - Mar 24, 2023

Harm Reduction Therapeutics, Catalent Ink Naloxone Commercial Supply Pact

Contract Pharma - Mar 24, 2023

Takeda set to build $764m manufacturing facility in Japan

Pharmaceutical Technology - Mar 24, 2023



TannerLAC Brings Revolutionary Technology to Latin America

Innovation never stops, and neither does the Tanner team. Recently, #TannerLAC team member Isabel Cristina Hernández Jirón traveled to Mexico to meet with Kabla Diagnósticos and familiarize the team with Epimune GmbH's i.Mune® tests, which will be available in the country soon. Learn more here.

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.