Healthcare Stocks In Focus As M&A’s Heat Up The Sector
The US healthcare market is seeing a higher levels of acquisition activity as providers race to capitalize on innovation and deliver a better consumer experience. In fact, the global digital health market is expected to reach $665.36 billion by 2026 growing at a CAGR of 15.4% during the forecast period, according to Stratistics MRC.
Many traditional providers are turning to IT partners with digital capabilities on automation and analytics to support and overcome the challenges they are facing. One of these challenges is the competition from new digital healthcare entrants. With this said, healthcare technology stocks are in focus this week.
Premier Health Group, Inc. (PHGRF) (PHGI) announced recently that as a part of its expansion plans it will enter the Pharmacy market via acquisition and/or launching a new Canada based pharmacy in H1–2019. With Premier’s acquisition of HealthVue Medical Clinics in August, this could be the next phase of growth for the company. Furthermore, the Company expects to provide additional updates on acquisitions in Q4–18 and Q1–19 and is actively reviewing a pipeline of additional pharmacy partners, including bricks and mortar locations for acquisition and strategic new retail opportunities for pharmacies.
“It is our position that the emergence of technology such as the ability for patients to electronically send their prescription(s) to a pharmacy for fulfillment and pick up at a later time or delivery directly to them at home or work will result in increased patient and consumer enrollment in apps that offer this type of functionality,” said Dr. Essam Hamza, CEO of Premier.
Premier Health Group entered the primary care clinic and health care technology business via the HealthVue transaction. Premier obtained access to a group of four Greater Vancouver-based fully integrated, paperless and electronic-medical-record-based medical clinics with a 10-year history, 22 health care professionals and over 100,000 active patients.
AthenaHealth (ATHN), a leading nationwide provider of network-enabled services for hospital and ambulatory customers, Veritas Capital and Evergreen Coast Capital, announced today entering into a definitive agreement in which an affiliate of Veritas and Evergreen will acquire athenahealth for approximately $5.7 billion in a cash deal.
Veritas is a government and technology focused investor which concentrates on growth for companies within the healthcare technology space and has a deep understanding of the vital need to digitize the healthcare system.
“After a thorough strategic review process, we have decided to enter this agreement with Veritas, which we believe maximizes value for our shareholders and accelerates our goal to transform healthcare,” said Jeff Immelt, Executive Chairman of athenahealth. “Combining with Virence will create new opportunities for collaboration and growth. Operating as a private company with Veritas’s ownership and support will provide athenahealth with increased flexibility to achieve our purpose of unleashing our collective potential to transform healthcare.”
Matinas BioPharma Holdings Inc. (MNTB), a clinical-stage biopharmaceutical company, today announced its Q3 financial results and provided a corporate update. The company reported quarterly losses of $(0.03) per share, beating analyst consensus estimates of $(0.04) by 25 percent, which is a 25 percent increase over last year’s losses of $(0.04) per share.
Matinas BioPharma reported that its key focus is to advance the development of MAT9001, a proprietary cardiovascular therapy and to drive development of its lipid nano-crystal (LNC) platform delivery technology and lead candidate MAT2203, while developing opportunities with strategic partners in the area of gene therapy.
“The third quarter of 2018 through the date of our filing has been a transformational time for Matinas,” commented Jerome D. Jabbour, CEO. “In witnessing the enthusiasm and potential surrounding our differentiated LNC platform delivery technology, coupled with recent third-party landmark data announcements demonstrating that certain omega-3 fatty acids can have a significant impact on overall cardiovascular health, we find ourselves in the enviable position of having two potential best-in-class assets.
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