Pharma BD Deal Intelligence
BofA Merrill Lynch analyst Kevin Fishbeck noted Aetna had holes to fill in both Medicare and Medicaid and was filling them at multiples 'well below what it…
Aetna to buy Coventry in Medicare and Medicaid expansion, paying $42.08 per share and increasing its government-business revenue share to over 30 percent from…
One analyst cautioned: 'We do not see Coventry Health Care as bringing to the table market leading positions in either individual Med Adv or Medicaid,'…
Source summaries from our enrichment pipeline; follow links for originals.
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Aetna acquired Coventry Health Care for $5.7B equity value ($7.3B including ~$1.6B assumed debt). $42.08/share (cash + stock). Expanded government business: 4M medical + 1.5M Medicare Part D members. Note: Payer deal (borderline pharma scope) but commonly tracked in pharma BD trackers given drug-pricing implications.
Assessment window: 5yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Aetna Inc. / Coventry Health Care, Inc. (this deal) | 2012 | $7.3B | 50 |
| Watson Pharmaceuticals (Actavis Inc.) / Actavis plc | 2012 | $5.9B | 97 |
| Kohlberg Kravis Roberts & Co. / PRA International (Genstar Capital) | 2013 | $1.3B | 91 |
| Stryker Corporation / MAKO Surgical Corp. | 2013 | $1.6B | 91 |
| Quintiles Transnational Holdings Inc. / IMS Health Holdings, Inc. | 2016 | $17.6B | 91 |
| DPx Holdings B.V. (JLL Partners 51% / Royal DSM 49%) / Patheon Inc. + DSM Pharmaceutical Products | 2013 | $2.6B | 90 |
| Pamplona Capital Management, LLP / PAREXEL International Corporation | 2017 | $5.0B | 90 |
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