International Transactions

UDG of Ireland buys U.S. Cambridge BioMarketing Group from Everyday Health for $35 million.

Cambridge Bio is a communication marketing company for the healthcare industry focused on orphan and rare disease product. Everyday Health managed to hold on to the asset only for two years. UDG is a diversified healthcare services company and highly acquisitive.

Vicarius Pharma secures a $22 million Series A funding.

The Switzerland-based company provides marketing services to the pharma industry including product launch, strategic and regulatory advisory services. 

Philips of Netherlands buys U.S.-based Spectranetics for $2.0B and UK-based Health and Parenting Ltd. for an undisclosed amount.

The acquisition of Spectranetics accelerates the expansion of the company in image guided therapy device for treatment of cardiac and vascular diseases.

Health and parenting develops pregnancy related mobile applications. The app is currently in use by 12 million mothers.

Philips has been unusually active in healthcare. For the past 12 months alone the company has purchased seven companies in the sector.

Covance buys UK-based CRO, Chiltern International for $1.2B.

Pharm is a global business and CROs have to follow suit. Although many of the largest CROs like Covance already have impressive international footprint, Chiltern has a unique presence in the profitable oncology market. In the last two years we have seen a handful of large CRO consolidation including Icon’s purchase of Mapi and acquisition of InVentive Health by Inc Research. Stay tuned, there will be many more. 

Push Doctor of England raises $26 million bringing total funding to $35 million.

Exporting disruptive but proven models from the U.S. has turned out to be good investment thesis and here is another example. Push Doctor is an online doctor consultation platform similar to Teladoc. Draper Fisher affiliate in the UK is one of the backers of the company.

Day Two, An Israeli startup raises $17 million.

The company is at the forefront of analyzing gut microbiome to personalize food and exercise recommendation. The company is already working with Mayo Clinic on a research project and counts impressive suite of investors including Mayo itself and J&J. Day Two sends users a test kit that allows the company to do a genetic analysis. The technology is based on a five year research conducted at the Weizmann Institute of Science in Israel.

Konica Minolta acquires Orange County firm Ambry Genetics, a gene sequencing company,  for $1.0B.

Konica which was known for its cameras and printers has been totally reborn. The company left its camera business over a decade ago and used its imaging prowess to slowly get into diagnostic imaging and ultrasound. Healthcare is a chief focus for the company and precision medicine is one area that has been getting a lot of attention at the board level.

The deal structure is also rather unique. Konica is bringing Innovation Network Corp of Japan; a quasi government body, to become a shareholder in Ambry. Consideration is for $800 million upfront with the remaining payable as an earn out.

Roche acquires mySugr.

The company, based in Austria, develops diabetes management applications in the U.S. and Europe. It synchronizes readings from users’ meter into mySugr app. Roche was previously an investor in the company.

Apple acquires German-based company SensoMotoric Instruments.

The target has been around since the early 1990’s. Sensomotoric develops and market application specific gaze and eye tracking systems. The technology is used in many fields including market research, neuromarketing, neuroscience, gaze-based interaction, and ophthalmology applications; usability applications, psychology, psychiatry, and psycholinguistic and virtual reality headsets/head mounted displays. This is super exciting to us.

Webbhalsa Of Sweden raises $22 million.

Another Teladoc knock off. This is an eVisit platform for non emergency conditions. The fever is catching on and we love the resultant economics of it.

Creavo Medical Technologies based in the UK raises $17 million.

Creavo develops imaging technologies via a battery powered and portable medical device for the detection of heart related problems in acute medical settings. This brings the total funding to $27 million.

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