International Transactions
May 2017 Financial Technology, Data, and Analytics
Temasek, the sovereign fund of Singapore, buys healthcare logistics company, GHX from Thoma Bravo
Temasek is a $240 billion fund. Their ticket size is large and their investments are across many industries. GHX is the leading company in the healthcare logistics space with an interesting history as an industry consortium. At the time of the sale to Thoma Bravo in 2014, the company had 20 shareholders amongst medical product manufacturers. They claim to have saved over $4 billion for their clients through enabling faster, more efficient, and more accurate procurement processes.
Armor Defense based in Richardson, TX receives $89 million from Singapore based ST Telemedia
This is the Amazon cloud for healthcare. Out of the box, the company offers HIPPA and PCI compliant cloud hosting and separates the healthcare information from the rest of the IT infrastructure. The company has a global foot print with 1,200 customers in 40 countries We are seeing increased activity by Singaporean funds in the U.S. healthcare industry.
Image Stream Medical of Littleton, MA is picked up by Olympus of Japan for $87 million
Image Stream provides clinical visual collaboration solutions that are used in procedure rooms and virtual care setting. The company is essentially an embedded software for medical displays.
MD International AB of Sweden raises $25 million
The company is an on-line platform for patients to communicate with their doctors. EQT Ventures, an active healthcare investor, is the sole investor. The company has raised $37 million to date.
NASDAQ-listed BioTelemetry purchases Swiss based LifeWatch AG for $270 million
LifeWatch is a premier player in the remote cardiac monitoring solutions. BioTelemetry is in similar business in the U.S. and operates under CardioNet. For a company with enterprise value of $800 million, this is a big bet, but worth taking.
Siemens buys San Francisco, CA- based Medicalis
Medicalis is one of the oldest players in image utilization and optimization services. HLM Ventures first invested in the company back in 2008. Since Siemens sold their HIT business to Cerner, the company has predominately focused on expanding their imaging business.
San Francisco, CA-based Sycle is picked up by Cochlear of Australia for $78 million
The target is the world largest PM software company in audiology. Over 20K hearing care professionals in 7K locations use the solutions. The buyer, Cochlear, is a large listed company with over $6.3B in enterprise value. Choclear makes implantable hearing solutions. The acquisition will certainly expand the profile of the company in the industry.
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