Deals in Focus

Deals in Focus – LifeScience
8th October 2019 Atheneum Team
16th October 2019

Key Atheneum Experts

Vice President – Banfield Pet Hospital
Medical Director – Banfield Pet Hospital
Former Regional Operations Manager

Key Information

Veterinary
HQ – US
Operations – Global

Morgan Stanley Capital Partners is evaluating strategic alternatives for it’s burgeoning pet care business. The deal is purported to be marketed off of a $150m EBITDA, with similar sales fetching a 20x multiple. Pathway has reported 3 year revenue growth of more than 1000%.

Key Atheneum Experts

VP of Strategic Marketing and Product Management – Numotion
Head of Global Supply Chain and Logistics – Sunrise Medical
Former VP Home Access
Regional Director – Sunrise Medical

Key Information

Medical Devices
HQ – US
Operations – Global

Court Square is pursuing the sale of it’s specialized wheel chair supplier. EBITDA is stated to be in the $60m to $70m range, suggesting the company is likely to command a 10-12x multiple. Court Square bougth NSM for less than $400m in 2016.

Key Atheneum Experts

Former Global Director Distributor Relations
Former Chief Operating Officer
Former Co-Founder

Key Information

Pharmaceutical
HQ – UK
Operations – Global

Capvest is seeking to unload it’s radiopharmaceutical company 3 years into it’s investment. Curium is projecting a 2019 EBITDA of ~ $210m and they reported a revenue of €540m in 2018. Multiple sources corroborated that a formal bidding process is expected in early 2020.

Key Atheneum Experts

Director – Scribe America
Former Chief Scribe – Scribe America

Key Information

Dairy Product
HQ – US
Operations – Global

Vesey Street Capital is evaluating the sale of Health Channels nearly five years into it’s investment. HealthChannels produces revenue of $540m with an EBITDA of $110m.  Some sources have suggested that HealthChannels is seeking a 20x multiple given the competitive nature of the sale process.

Key Atheneum Experts

Vice President, Product Management – RevSpring
Former Vice President – Simplee
Former Director Inside Sales – Simplee

Key Information

Healthcare Software
HQ – US
Operations – Global

The healthcare payments and egagement start up is seeking $100m in a sale. To date, the payment startup has raised $37.8m in funding over 4 rounds. The sale comes as the digital healthcare payment landscape is experiencing exponential growth.

Key Atheneum Experts

Head of Biology and Application Development
Former Director, Innovation and Development – LGC

Key Information

Healthcare Software
HQ – US
Operations – Global

KKR is reportedly seeking to unwind it’s investment in LGC Group – the british scientific measuring and testing company. LGC reported a revenue of $408m in 2018 and an EBITDA of $106m. The deliberations are at an early stage according to sources close to the company.

To learn more please email: adam.jenkins@atheneum-partners.com