![]() And Partners Group acquired the CDMO Pharmathen from BC Partners for $1.9 billion. For example, Goldman Sachs and EQT paid $8.5 billion to buy Parexel, a global CRO focused on developing and delivering innovative therapeutics. In a departure from 2020, several large organizations with broad therapeutic or product portfolios were acquired by private equity sponsors. This trend continued in 2021, with contract research organizations (CROs), contract development and manufacturing organizations (CDMOs), and clinical site organizations (CSOs) generating significant investor interest. Traditional pharma services remain solidĬovid-19 caused investors to gravitate in 2020 to pharma services assets, particularly in North America and Europe, thereby limiting clinical and pricing risk. However, Advent International and Singapore's sovereign wealth fund withdrew their bid to acquire Swedish Orphan Biovitrum after an insufficient percentage of outstanding shares approved the bid, Reuters reported, highlighting the execution difficulties sponsors can face. One twist during the year was the cluster of attempted public-to-private transactions. While Asia-Pacific still accounts for 53% of total transactions, private equity sponsors encountered more competition from corporate buyers and capital markets. ![]() There, deal volume dipped only 3% from the prior year’s record high. The story was different in the Asia-Pacific region, which continued a steadier growth and maturation of healthcare private equity activity. (Because this report breaks out the life sciences sector for the first time, the 2020 biopharma data varies from last year’s report.)Įuropean deal value more than quintupled to $11.4 billion, on the back of buyouts such as UDG Healthcare at $3.8 billion and Cooper Consumer Health at $2.6 billion. Global deal volume rose slightly to 147 from 137 the year prior, and disclosed value surged to $33 billion from $20 billion (see Figure 1). In contrast to the market uncertainties of 2020, strong fundamentals in biopharmaceuticals produced a number of large deals in 2021, especially in Europe. Healthcare IT surged as the digital transformation accelerated across sectors. For the first time, this report breaks out life sciences tools, which drew more, and more varied, investments, in 2021. Medtech volume and value soared after the largest deal in healthcare buyout history. Healthcare payers had the slowest growth in deal volume, due to the limited number of available assets. Biopharma volumes also rose, but unlike last year, trailed providers. Every healthcare sector rose in deal volume and value in 2021, with the provider sector taking the top spot in both categories.
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