Large number of deals but focus on signing contract service, supply and grant awards before the summer recess.
The past week saw the announcement of 71 new partnering deals, quite a high number for what is traditionally a vacation period. Or perhaps a number of deals were signed just before heading to the sun and sea.
The lead deals were all either contract service or grant awards.
The lead deal by value was the supply agreement between Express Scripts and Amerisource Bergen, whereby the the latter will supply the former with presciption pharmaceuticals for three years, commencing October 2012.
Next up was the grant award for $114 million from Cancer Research and Prevention Insitute of Texas, for the furthering of research into fighting cancer.
On the M&A front, dealmaking was slow with only eight announcements.
Finally, on the financing front, there were 21 announcements with the lead announcements being public companies obtaining funds.
Partnering deals: 71 (up on last week: 60)
M&A deals: 8 (down on last week: 11)
Financing deals: 21 (up on last week: 19)
Source: Current Agreements, 2012
Deals of note
1. Supply agreement for pharmaceutical products
Headline value: $18.5 billion
Express Scripts, Amerisource Bergen | Pharmaceuticals, contract service
AmerisourceBergen Corporation has signed a three year agreement to supply approximately $18.5 billion in pharmaceuticals to Express Scripts on an annual basis.
The agreement is effective October 1, 2012.
2. Grant award for $114 million for fighting cancer
Headline value: $114 million
Cancer Research and Prevention Institute of Texas
The Cancer Prevention and Research Institute of Texas announced funding of more than $114 million to support a variety of cancer-fighting efforts in Texas. Highlights among the funded projects include: Screening programs for colorectal, breast and cervical cancers to be conducted in Dallas-Fort Worth, El Paso, Houston, Galveston and San Antonio. Programs focused on survivor care, specifically addressing the education of health care professionals such as social workers, nurses and reproductive specialists. Two Phase II clinical trials studying interventions in breast cancer and acute myelogenous leukemia, respectively. A collaboration between UT Southwestern, UT Health Science Center at San Antonio and Baylor College of Medicine aimed at identifying and tracking genetic changes, as they occur in real time, in sarcoma patients across Texas.
3. Acquisition agreement for Sunquest Information Systems
Headline value: $1.415 billion
Roper Industries, Sunquest Information Systems | Research tools, Services
Roper Industries has entered into a definitive agreement to acquire Sunquest Information Systems the leading provider of diagnostic and laboratory software solutions to healthcare providers, in an all cash transaction valued at $1.415 billion, including $25 million in cash tax benefits.
4. Equity purchase agreement for $1 billion
Headline value: $1 billion
Genpact Limited announced that affiliates of Bain Capital Partners have agreed to purchase approximately 68 million Genpact common shares from entities affiliated with General Atlantic and Oak Hill Capital Partners for $14.76 per share, or approximately $1 billion. Closing of the transaction will take place after payment to all shareholders, including GA and Oak Hill Capital, of the special dividend of $2.24 per share announced by Genpact today. Under the terms of the transaction, South Asia Private Investments and other affiliates of Bain Capital have agreed to purchase approximately 68 million Genpact common shares from entities affiliated with GA and Oak Hill Capital for $1 billion, representing approximately 30% of Genpact’s outstanding shares.
As part of the transaction, consistent with its long-term investment orientation, Bain Capital has agreed not to sell any Genpact shares for a period of two and a half years, subject to limited exceptions, and has agreed to a customary standstill.
5. Credit agreement for $525 million
Headline value: $525 million
Haemonetics Corporation | Biotech, Research tools
The Company also announced that it has entered into a new $525 million credit agreement with a syndicate of lenders led by JPMorgan Chase Bank, N.A. and Citibank, N.A.
The credit agreement is comprised of a $475 million term loan facility utilized toward funding the acquisition and a $50 million revolving credit facility.
In addition to deal announced there is always gossip and speculation of potential deals – here is just some of the Dealtalk from the last seven days.
View all deals of the past week at Current Agreements (subscription required)
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