Healthcare Sector Comment – September 2013

Date

September saw the completion of 9 deals in the UK healthcare market. An interesting deal was Columbia Laboratories Inc’s acquisition of Molecular Profiles Ltd for a total consideration of £15.8m, which represents an exciting step in Columbia’s on-going transformation.

Another deal that caught the attention of the UK market was Interim Healthcare Inc’s acquisition of Bluebird Care, which is a care home franchiser with 180 offices across the UK and Ireland. This comes less than a year after Interim entered a strategic partnership with The Halifax Group, a private equity firm, which reenergised a plan to expand services and grow the group’s footprint in the worldwide home healthcare market.

Deals

Malvern Instruments acquired NanoSight Ltd for a total consideration of £15m. Malvern Instruments is a UK developer and manufacturer of particle characterisation systems for chemical identification, molecular size, molecular weight, particle shape, particle size, rheological properties, and zeta potential measurements. NanoSight is a UK manufacturer and supplier of nanoparticle technologies for research laboratories.

Phytopharm plc acquired IXICO Ltd for a total consideration of £5.6m. Phytopharm is a UK pharmaceutical development and functional food company. IXICO is a UK provider of medical imaging services for the pharmaceutical industry.

Target Healthcare REIT Ltd acquired a care home from Ideal Carehomes for a total consideration of £4m. Target Healthcare is a UK investor in care homes. Ideal Carehomes is a UK care home operator.

Interim Healthcare Inc acquired Bluebird Care Franchises Ltd for an undisclosed amount. Interim Healthcare is a US healthcare company. Bluebird Care Franchises is a UK home healthcare company.

EMIS Group plc acquired Ascribe Ltd for a total consideration of £57.5m. EMIS Group is a UK primary care software provider. Ascribe is a UK health IT software supplier.

Midland Heart Development Ltd acquired Entrust Care Ltd for an undisclosed amount. Midland Heart is a UK social housing group. Entrust Care is a UK care home operator.

Columbia Laboratories Inc acquired Molecular Profiles Ltd for a total consideration of £15.8m. Columbia Laboratories is a US pharmaceutical company. Molecular Profiles is a UK contract research organisation providing analytical research services for pharmaceutical, healthcare, and biomedical industries.

Assura Group Ltd acquired the entire share capital of Trinity Medical Properties Ltd and Trinity Medical Developments Ltd for a total consideration of £62.5m. Assura Group is a UK primary care property investor and developer. Trinity Medical is UK owner of medical centres.

Danshell Care Homes acquired Castlebeck Group Ltd for a total consideration of £35m. Danshell Care Homes is a UK care home operator. Castlebeck Group is a UK mental health care home operator.