Gary W. Herschman, Anjana D. Patel, and Zachary Taylor, attorneys in the Health Care & Life Sciences practice, in the firm’s Newark office, were quoted in Bloomberg Health Law & Business News, in “Health-Care Deals on Record Pace to Hit 3,000 by Year’s End,” by Christopher Brown. (Read the full version – subscription required.)
Following is an excerpt:
Health-care deal volume continued at a robust pace in October, with transactions expected to reach 3,000 before the end of the year, analysts say.
October saw a total of 223 announced or closed mergers and acquisitions, up from 213 the month before. As many as 400 deals could close in December, based on the number of transactions now in the works, according to Gary Herschman of Epstein Becker & Green PC in Newark, N.J. Total deal volume year to date is at 2,37, which already exceeds the volume for all of 2020 (1,936).
The predictions come as President Joe Biden’s signature economic plan makes its way through Congress. The House on Nov. 19 passed the sweeping spending package, but its fate in the Senate remains uncertain. …
Life Sciences
Deals in the life sciences, pharmaceutical, and medical devices sectors have steadily increased over the last year, spurred by Covid-19 related interest in vaccines, testing, and protective gear, said Anjana Patel of Epstein Becker & Green.
Life sciences and pharmaceuticals led all sectors in October with 38 deals, followed by physician practices and services with 36. The total deal volume in the life sciences sector was over 400 year to date, up from around 300 at the same point in 2020. …
Physician practices and services activity was on par with September, and marked a jump from October 2020, which saw 22 deals. Expectations in that sector are also very high for the rest of the year, Herschman said.
“Because of the disproportionately high number of physician deals in the pipeline that are planning to close this year, we certainly could see 75-100 deals in this sector close in the December timeframe,” he said. …
Hospital, Health IT Deals
The hospital and health systems sector finished the month with 10 deals announced or closed, up from 5 in September and down from 14 in October 2020. ...
The cannabis sector saw an uptick in deals from last month, with 28 announced or closed deals in October, said Zachary Taylor of Epstein Becker & Green. Transactions are moving beyond dispensaries and manufacturing facilities into secondary services, such as compliance and consulting, he said.
