Week of April 19th, 2021 | Vol. 10, Issue 16
In This Issue
Featured Headlines
Recent Industry Transactions
Industry Trading Comps
Recent Industry Headlines
Market Reports
Upcoming Events

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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 Tribute
Sell-side | CMO | Liquids and Semi-solids CMO headquartered in Canada

Project Trident
Buy-side | Generic Pharma | Manufacturing liquid generics

Project Aspen
Sell-side | CDMO | Multinational CDMO headquartered in US

Project Athena
Sell-side / Licensing | Medical Device | Novel device for pelvic organ prolapse
Amgen has completed its acquisition of Five Prime Therapeutics for approximately $1.9 billion in cash. This acquisition adds Five Prime's innovative pipeline of immuno-oncology and targeted cancer therapies to Amgen's oncology portfolio.
"Five Prime fits squarely within Amgen's leading oncology portfolio and includes bemarituzumab, a Phase 3 trial-ready, first-in-class program for gastric cancer, the third leading cause of cancer mortality worldwide," said Robert A. Bradway, chairman and chief executive officer at Amgen. "Working with the dedicated professionals joining us from Five Prime, we plan to quickly move bemarituzumab into a Phase 3 study, bringing it one step closer to helping patients suffering from gastric cancer."

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
9 transactions totaling $251 million
Supplies, Equipment & Services
38 transactions totaling $24,220 million
Healthcare IT & Managed Care
7 transactions totaling $10 million
Healthcare Facilities & Distributors
5 transactions totaling $340 million
Pharma & Biotech
29 transactions totaling $1,437 million
Supplies, Equipment & Services
26 transactions totaling $665 million
Healthcare IT & Managed Care
15 transactions totaling $311 million
Healthcare Facilities & Distributors
5 transactions totaling $203 million
Pharma & Biotech
13 transactions totaling $418 million
Supplies, Equipment & Services
5 transactions totaling $95 million
Healthcare IT & Managed Care
4 transaction totaling $18 million
Healthcare Facilities & Distributors
0 transactions
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.
April 18, 2021 - Fierce Healthcare
The White House is making a $1.7 billion investment to track new, more transmissible strains of COVID-19 alongside preparing for new threats. The investment comes as cases of the new strains have multiplied in the U.S. over the past few months, leading to a major spike in cases in some states.

April 16, 2021 - Fierce Pharma
Just as pharma watchers were bracing themselves for the brunt of renewed antitrust scrutiny around large biopharma transactions, AstraZeneca’s mega-acquisition of Alexion Pharma sailed through the much-dreaded review unscathed. 
In an anticlimactic announcement Friday, AZ said the U.S. Federal Trade Commission has cleared the $39 billion deal first unveiled in December.

April 16, 2021 - Fierce Biotech
The 82-year-old, Minneapolis-based company—which supplies about 7,000 hospitals and providers with equipment rentals, reprocessing and repairs through its 98 service centers—plans to sell more than 26.3 million shares on the New York Stock Exchange under the symbol AGTI, at a price ranging from $18 to $20 apiece, according to Renaissance Capital.

April 15, 2021 - Contract Pharma
Thermo Fisher Scientific has acquired clinical research services provider PPD for $17.4 billion. PPD provides a broad range of clinical research and laboratory services to enable customers to accelerate innovation and increase drug development productivity.
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.