Week of May 9, 2023 | Vol. 12, Issue 18


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

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

5 transactions totaling $6.1 billion

Supplies, Equipment & Services

18 transactions totaling $3.9 billion

Healthcare Facilities & Distributors

11 transactions totaling $137 million

Healthcare IT & Managed Care

7 transactions totaling $15 million

Private Placements

Pharma & Biotech

23 transactions totaling $368 million

Supplies, Equipment & Services

16 transactions totaling $270 million

Healthcare Facilities & Distributors

2 transactions

Healthcare IT & Managed Care

7 transactions totaling $43 million

Public Offerings

Pharma & Biotech

26 transactions totaling $2.1 billion

Supplies, Equipment & Services

10 transactions totaling $1.1 billion

Healthcare Facilities & Distributors

5 transactions totaling $4.6 billion

Healthcare IT & Managed Care

0 transactions

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 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

PI Healthsciences announces the acquisition of Archimica S.p.A from Livia Group

Archimica - Apr 28, 2023

'More in the hopper': European Big Pharmas hint M&A could ramp up

Fierce Biotech - May 1, 2023

Astellas Pharma buys Iveric Bio for $5.9 billion

Reuters - May 1, 2023

CordenPharma Announces Entry into Oligonucleotide API Manufacturing

CordenPharma - May 2, 2023

Maze and Sanofi sign licence agreement for Pompe disease therapy

Pharmaceutical Technology - May 2, 2023

Cytiva and Pall Life Sciences complete integration to create a global innovation and solutions leader in biotechnology

PR Newswire - May 2, 2023

Forge Biologics and Labcorp Announce Strategic AAV Gene Therapy Development and Manufacturing Collaboration

Business Wire - May 3, 2023

Lantern Pharma Chooses Reprocell to Support Phase 2 Harmonic Trial

Contract Pharma - May 3, 2023

Dutch State Announces the Sale of Intravacc B.V. (The Netherlands)

PR Newswire - May 3, 2023

Hovione and H&T Presspart extend partnership to advance high efficiency device technology for Dry Powder Inhalation formulation delivery

PR Newswire - May 3, 2023

Innovassynth, Actylis Partner on Nucleic Acid Supply Chain Vulnerabilities

Contract Pharma - May 4, 2023

ValGenesis, Mepharma partner on services for Middle East, North Africa CROs

Fierce Biotech - May 4, 2023

George Clinical to Support Hummingbird’s Phase 1 Oncology Trials

Contract Pharma - May 4, 2023

Hasten buys commercial rights for Roche’s Rocephin in China

Pharmaceutical Technology - May 5, 2023

Catalent shares tank on warning of $400 mln cut to annual revenue forecast

Reuters - May 8, 2023

BioPharma Solutions sold for $4B+ to two private equity firms

Endpoints News - May 8, 2023



We Increase Access to Medicines

Last month we delivered 18,193 units of medicine to support patients in 38 countries 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.