Week of April 25, 2023 | Vol. 12, Issue 16


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

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CPHI-North-America-logo-web image
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NACDS Annual Meeting 2023

April 22-25, 2023 - West Palm Beach, FL

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

Recent Transactions

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.

M&A Transactions

Pharma & Biotech

6 transactions totaling $13.1 billion

Supplies, Equipment & Services

19 transactions totaling $2.3 billion

Healthcare Facilities & Distributors

7 transactions totaling $92 million

Healthcare IT & Managed Care

7 transactions

Private Placements

Pharma & Biotech

28 transactions totaling $1.1 billion

Supplies, Equipment & Services

20 transactions totaling $463 million

Healthcare Facilities & Distributors

4 transactions totaling $146 million

Healthcare IT & Managed Care

20 transactions totaling $264 million

Public Offerings

Pharma & Biotech

18 transactions totaling $1.2 billion

Supplies, Equipment & Services

8 transactions totaling $436 million

Healthcare Facilities & Distributors

0 transactions

Healthcare IT & Managed Care

2 transactions totaling $91 million

Trading Comps

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.

Market Reports

Insight Into Healthcare Related Industries

Pharma Services Sector Snapshot 1H 2022

August 2022

Market Insight Capital Markets Update

October 2022

M&A Pipeline

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 Trident

Pharma | Buy-Side

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

Featured Headlines

A Sampling of Industry Headlines

The Riverside Company to acquire Dastex Reinraumzubehör & Vita Verita

PE Hub Europe - Mar 30, 2023

Flagship Lab Services Expands Portfolio with Acquisition of BTS

PR Newswire - Apr 17, 2023

Audax Private Equity Announces Growth Investment in Pyramid Laboratories, Inc.

Business Wire - Apr 18, 2023

Headlands acquires Massachusetts trial site specializing in neurodegenerative diseases

Fierce Biotech - Apr 19, 2023

DSM agrees terms to acquire postbiotics pioneer Adare Biome

Adare Pharma Solutions - Apr 19, 2023

Asahi Kasei Bioprocess America and GeminiBio Enter Strategic Partnership to Advance Application of Inline Buffer Formulation and Streamline Biopharmaceutical Manufacturing Processes

Business Wire - Apr 19, 2023

bioMérieux and JMI Labortories partner to fight antimicrobial resistance

Element - Apr 20, 2023

Taros Chemicals, Welab ink partnership deal to aid client R&D

Fierce Biotech - Apr 20, 2023



ORPHELIA Pharma and Tanner Pharma to Initiate Named Patient Program for KIMOZO® in European Countries

Tanner Pharma has partnered with ORPHELIA Pharma to manage the supply and distribution of KIMOZO®, an anti-cancer drug, in European countries where the product is not yet commercialized. Full release.

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.