Disrupted Healthcare – Global Deals and Investments – 28 Transactions This Week

VC Deals (13 deals, $338M)

MedDay, a Paris-based developer of treatments for CNS disorders, has raised €34 million in Series B funding. Edmond de Rothschild Investment Partners led the round, and was joined by Bpifrance and return backers Sofnnova Partners and InnoBi

STAT-Diagnostica, a Spanish medical diagnostics company, has raised €25 million in Series C funding.Gilde Healthcare led the round, and was joined by return backers Kurma Partners, Ysios Capital, Idinvest Partners, Boehringer Ingelheim, Caixa Capital and Axis

Keranova, a French developer of instruments for ophthalmic surgery, has raised €4 million in Series A funding. Mérieux Développement led the round, and was joined by CEA Investissement and return backer Bpifrance

Cambrooke Therapeutics Inc., an Ayer, Mass.-based maker of medical nutrition products, has raised an undisclosed of Series C funding. Seventure Partners led the round, and was joined by return backer Galen Partners

Livongo Health, a Mountain View, Calif.-based digital health startup focused on managing chronic conditions like diabetes, has raised $44.5 million in Series C funding. Investors include Merck Global Health Innovation Fund, Cowen Private Investments, Sapphire Ventures, Zaffre Investments, Wanxiang America and return backers General Catalyst, Kleiner Perkins Caufield & Byers, DFJ and 7wire Ventures

iSTAR Medical SA, a Belgium-based developer of ophthalmic implants for the treatment of glaucoma, has raised €10 million in Series B funding. The Belgian Federal Investment Fund and Fond Européen des Matériaux were joined by return backers Capricorn Venture Partners and Walloon Region Investment Fund

MediQuire, a New York-based provider of data analytics for improving Medicaid patient outcomes, has raised an undisclosed amount of Series A funding led by FCA Venture Partners

Kala Pharmaceuticals Inc., a Waltham, Mass.-based developer of ophthalmic products based on muscle-penetrating particle technology, has raised $68 million in Series C funding. Longitude Capital led the round, and was joined by OrbiMed Advisors, Vivo Capital, CAM Capital, RA Capital Management, Wellington Management, Polaris Partners, Lux Capital and CVF LLC

Quartet Health, a New York-based tech startup focused on integrating behavioral and physical healthcare, has raised $40 million in Series B funding. Google Ventures led the round, and was joined by return backers Oak HC/FT Partners, F-Prime Capital Partners, and Polaris Partners

TargEDys, a French developer of microbiome-based solutions for appetite regulation, has raised €5.8 million in new VC funding from Seventure Partners, NCI and Pontifax

Proteus Digital Health has raised $50 million from undisclosed investors. The company’s existing investors include Medtronic, Itochu, St. Jude Medical, and Kaiser Permanente Ventures. This brings the company’s total funding to at least $450 million

EnsoData, a year-old, Madison, Wi.-based healthcare data science company sells its machine-learning-enabled software­ as­ a­ service to create clinical insights from wearables, medical devices, and clinicians’s data, has raised $550,000 in seed funding led by HealthX Ventures, a new Madison-­based venture capital fund focused on digital health

RefleXion Medical, a six-year-old, Hayward, Ca.-based company at work on a technology to make cancer radiation therapy safer, has raised $46 million in Series B funding led by KCK Group, a family investment fund. Earlier investors Pfizer Venture Investments, Sofinnova Partners, and Venrockalso joined the round

PE Deals (7 deals)

Diversis Capital has acquired a majority of the assets ofCaligor Rx Inc., a Secaucus, N.J.-based provider of clinical supply chain maximization solutions for pharma and biotech companies. No financial terms were disclosed

Woodbury Health Products Inc., a Floral Park, N.Y.-based portfolio company of MTS Health Investors, has acquired certain assets of Advanced Medical Group LLC, a Suwanee, Ga.-based distributor of home urological supplies. No financial terms were disclosed

BC Partners and Nordic Capital have been short-listed in the auction forDermapharm, a German generic drug-maker that could be sold for around $1.3 billion

Investindustrial has agreed to acquire a 60% stake in Artsana SpA, an Italian baby and healthcare products brand, at an enterprise value of around €1.3 billion

Schweiger Dermatology Group LLC, a provider of medical, cosmetic and surgical dermatology services in New York and New Jersey, has raised $35 million in private equity funding led by LLR Partners

TowerBrook Capital Partners has agreed to sponsor a spin-out of TriMedx, an Indianapolis-based provider of healthcare technology management services, from nonprofit health system Ascension. No financial terms were disclosed for the deal, which includes a new long-term customer contract between TriMedx and Ascension

Charterhouse Capital Partners has rejected a £300 million takeover offer from Triton Partners for British medical equipment company Turnstall Healthcare Group Ltd., according to Reuters. If Charterhouse doesn’t find a better bid, it may seek to refinance some of Turnstall’s £1.2 billion in net debt

IPO Deals (4 deals)

American Renal Associates Holdings, a Beverly, Mass.-based dialysis services provider, has set its IPO terms to 7.5 million shares being offered at between $20 and $23 per share. It would have an initial market cap of around $639 million, were it to price in the middle of its range. The company plans to trade on the NYSE under ticker symbol ARA, with BofA Merrill Lynch, Barclays and Goldman Sachs serving as lead underwriters. It reports $16 million of net income on $561 million in net patient revenue (revenue minus uncollectable accounts) for 2014. Centerbridge Capital Partners holds a 79.6% pre-IPO stake

Viamet Pharmaceuticals Holdings, a Durham, N.C.-based developer of inhibitors of validated metalloenzymes, has filed for a $100 million IPO. The company previously filed for a $75 million floatation in 2014, but withdrew its offering later that year. It plans to trade on the Nasdaq under ticker symbol VMET, with Morgan Stanley and Goldman Sachs serving as lead underwriters. Viamet has raised over $150 million in VC funding from firms like Novartis Bioventures (12.9% pre-IPO stake), Lilly Ventures (11.3%), Hatteras Venture Partners (7.8%) and Intersouth Partners (6.3%)

 Intellia Therapeutics, a Cambridge, Mass.-based gene-editing company focused on the development of medicines using CRISPR/Cas9 technology, has filed for a $120 million IPO. It plans to trade on the Nasdaq under ticker symbol NTLA, with Credit Suisse, Jefferies and Leerink Partners serving as lead underwriters. The pre-revenue company has raised in VC funding, from firms like Novartis (20.3% pre-IPO stake), Atlas Venture (17%), OrbiMed Advisors (9.3%), Fidelity (7.1%), Janus Capital Management, Foresite Capital, Sectoral Asset Management and EcoR1 Capital

Bavarian Nordic, a Denmark-based developer of vaccines for the prevention of life-threatening infectious diseases and the treatment of cancer, has withdrawn registration for its $86 million U.S. float, citing market conditions. The company currently is traded on the OTC BB and Nasdaq Copenhagen, with a market cap in excess of $1 billion

Other Deals (4 deals)

Linden Capital Partners has agreed to sell Corpak MedSystems, a Buffalo Grove, Ill.-based maker of nasogastric and gastrostomy feeding tubes, toHalyard Health Inc. (NYSE: HYH) for $174 million in cash

Primus Capital and Brentwood Capital Partners is seeking a buyer forPathGroup Inc., a Brentwood, Tenn.-based provider of clinical lab and anatomic pathology testing services, according to the WSJ. PathGroup generated around $50 million in 2015 EBITDA, and MTS Health Partners is advising on its auction

Medivation (Nasdaq: MDVN), a San Francisco-based prostate cancer drug-maker currently valued at $7.5 billion, has rejected a takeover approach fromSanofi (Paris: SAN)

Lonza Group (Swiss: LON) reportedly has expressed interest in acquiringCatalent (Nasdaq: CTLT), a Somerset, N.J.-based healthcare company that The Blackstone Group acquired from Cardinal Health in 2007 and took public in 2014. Catalent currently has a market cap of around $3.7 billion

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

The Propell Group

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