Disrupted Healthcare – 28 Deals and Investments This Week

VC Deals (13 deals, $370M)

EndoGastric Solutions, a Redmond, Wash.-based provider of incisionless procedural therapy for gastroesophageal reflux disease, has raised $50 million in new VC funding. CRG led the round, and was joined by return backers Advanced Technology Ventures, Canaan Partners, Chicago Growth Partners, Foundation Medical Partners and Radius Ventures

MD Revolution, a San Diego-based provider of chronic care management and patient engagement solutions, has raised $23 million in new VC funding led byJump Capital

One Medical Group, a San Francisco-based provider of tech-enabled primary care solutions, has raised $65 million in growth equity funding. J.P. Morgan Asset Management led the round, on behalf of the PEG Digital Growth Fund II and the AARP Innovation Fund

Aslan Pharmaceuticals, a Singapore-based developer of immunotherapies and targeted agents for Asia prevalent tumor types, has raised US$34 million in Series C funding led by Accuron Technologies Ltd., a wholly-owned subsidiary of Temasek Holdings. Other new investors included Tianda Pharmaceuticals Ltd. and Haitong International, while return backers were Morningside, Bioveda, Cenova and Sagamore Bioventures

Allena Pharmaceuticals Inc., a Newton, Mass.-based developer of non-systemic oral protein therapeutics to treat metabolic and orphan diseases, has raised $53 million in Series C funding. Partner Fund Managementled the round, and was joined by Fidelity, Wellington Management and return backers Frazier Healthcare, HBM BioCapital, and Pharmstandard International

Eargo, a Mountain View, Calif.-based maker of a “virtually invisible in-ear hearing device,” has raised $25 million in Series B funding led by New Enterprise Associates

Rubius Therapeutics, a Cambridge, Mass.-based biotech startup focused on treating diseases by putting new genes into red blood cells, has raised $25 million in first-round funding from Flagship Ventures

Kallyope, a New York-based drug development platform focused on the “gut-brain axis,” has raised $44 million in Series A funding. Backers include Lux Capital, Polaris Partners, Column Group, Illumina and Alexandria Venture Investments

GNS Healthcare, a 15-year-old, Cambridge, Ma.-based precision medicine company that uses machine learning to match health interventions to individual patients and discover new target intervention pathways, has raised $10 million in Series C from Celgene Corporation, Alexandria Real Estate Equities, andGi Global Health Fund. Earlier backer Cambia Health Solutions,California’s Heritage Provider Network, and Japan’s Mitsui & Co

Vitals, an eight-year-old,  Lyndhurst, N.J.-based physician review site, has raised $41 million in new funding from Goldman Sachs and undisclosed existing backers

Wearable tech Indian startup Leaf Wearables has raised US$250,000 in seed funding from angel investors like seasoned entrepreneur Ajeet Khurana and Jinesh Shah of Omnivore Ventures

Bangalore-based healthcare company OmiX Labs has raised US$74,000 from Social enterprise incubator Villgro Innovations Foundation to set up a tech platform for cost-effective DNA testing

PE Deals (6 deals)

Cerberus Capital Management has invested $105 million for a majority stake in PaxVax Inc., a Redwood City, Calif.-based specialty vaccine company focused on infectious diseases. Existing investor Ignition Partnerswill retain a minority equity position

KKR has agreed to acquire LGC, a British forensic sciences company, fromBridgepoint. No financial terms were disclosed, although the deal had been expected to be worth more than $1 billion. Losing bidders included The Carlyle Group, CVC Capital Partners and EQT Partners

Technimark, an Asheboro, N.C.-based injection-molded packaging and components manufacturer owned byPritzker Group Private Capital, has acquired Ci Medical Technologies, a Latrobe, Penn.-based medical component manufacturer, from Altaris Capital Partners. No financial terms were disclosed

Audax Group has acquired Senior Care/Active Day Inc., a Trevose, Penn.-based operator of adult day health centers, from Clearview Capital. No financial terms were disclose

TPG Growth has acquired a 28% stake in Asiri Hospital Holdings, a private healthcare provider in Sri Lanka, from Actis. No financial terms were disclosed. The company will continue to be controlled by Softlogic

MatrixCare, a Bloomington, Minn.-based health records company backed byOMERS Private Equity, has agreed to acquire AOD Software, a Fort Lauderdale, Fla.-based portfolio company of Primus Capital. No financial terms were disclosed

IPO Deals (3 deals)

Basilea Pharmaceutica Ltd., a Swiss developer of drugs for resistant fungal infections, has withdrawn registration for a $189.52 million IPO that it filed for in October. No explanation was provided beyond “market conditions.” The company currently trades on the Swiss stock exchange and had planned to trade in the U.S. on the Nasdaq. Cowen & Co. and Guggenheim Securities were serving as lead underwriters. Shareholders include Franklin Resources (8.74% stake) and HBM Healthcare Investors (7.82%)

EndoStim Inc., a St. Louis-based maker of a neurostimulation device for treating gastroesophageal reflux disease, has withdrawn registration for a $35 million IPO that it filed for in September 2014 due to “market conditions.” It had planned to trade on the Nasdaq, with Wedbush PacGrow Life Sciences serving as lead underwriter. Shareholders include Santé Ventures (35.4% stake) and Prolog Capital (5.7%)

Soulcycle, a New York-based fitness chain, has filed to go public. The chain generated $112 million in annual sales last year, with $25.3 million in net income from $7.6 million two years earlier

Other Deals (6 deals)

Archer Capital has agreed to sell Australian private hospital operator Healthe Care Australia for A$700 million to China’s Luye Medical

Charterhouse Capital Partners has retained LEK Consulting to advise on strategic options for Italian generic drugmaker Doc Generici, according toReuters. A sale could be worth around €600 million

Conmed Corp. (Nasdaq: CMND) has acquiredAppianFx, maker of a soft tissue fixation system, fromKFx Medical. No financial terms were disclosed. KFx Medical backers include Alloy Ventures, Arboretum Ventures, Charter Life Sciences, MB Venture Partners and Montreaux Equity Partners

GreatCall Inc., a San Diego-based provider of “usable technology for active aging,” has acquired Lively Inc., a San Francisco-based connected home health platform for older adults. No financial terms were disclosed. GreatCall has raised over $70 million from firms like Court Square Ventures, CRV, Nauta Capital, Steelpoint Capital Partners and Sumitomo Corp. Lively backers included Accelerator Ventures, BrainStorm Ventures, Cambia Health Solutions, Highway1 and Maveron

Lincare, a Clearwater, Fla.-based provider of respiratory therapy services, has agreed to acquire Brentwood, Tenn.-based American HomePatient Inc. fromHighland Capital Management. No financial terms were disclosed

Comfort Medical LLC, a Calimesa, Calif.-based provider of medical equipment and supplies, has acquired Medical Direct Club LLC, a Nashville, Tenn.-based direct-to-consumer provider of urological supplies. No financial terms were disclosed. Medical Direct Club had raised private equity funding from Heritage Group, The Nashville Capital Network, Crofton Capital, and Fulcrum Equity Partners

Sources: Term Sheet, Financial Times, StrictlyVC, TechinAsia, CrunchBase, TechCrunch, Bloomberg

The Propell Group

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