International Transactions

Tech Mahindra Subsidiary, The HCI Group Acquires Infinity HIT

The HCI Group is a global healthcare IT consulting group which was acquired by Tech Mahindra only last year. The target is a MEDITECH system integrator. We expect to see many more EMR SI companies being bought by Indian consulting firms.

AXA buys Chicago, IL-based benefit manager, Oak HC/FT- backed Maestro Healthcare Technology for $155M

AXA, the German insurer, has been super busy investing in and buying healthcare companies around the globe. The company’s core strategy revolves around payer-to partner.  Maestro is a unique firm and fits that vision. The company combines private exchange, benefits administration, enrollment, self-insurance and HSA administration all under one roof.

This is a great outcome for a firm that was only established in 2013. Maestro has one million lives under management with 500 groups. 

Advance Medical based in Spain receives investment form Summit Partners

Advance Medical is a global provider of telehealth services. This is a minority investment. The company was founded in 1999 so it is an old hand in this emerging business with 800 employees, 400 of whom are doctors and nurses.  Additionally the company has 50,000 leading experts around the globe in its network. Over 35 million people in 125 countries through large employers are covered by the company.

Medkeeper based in Westminster, CO receives $98M from Grifols of Spain in return for 51% stake

Grifols is a pioneer in alternative therapies. The investment, which has a call option for acquiring the remaining shares,  was made by the company’s hospital division. The target provides web and hand-held software solutions to hospitals and retail pharmacies. We hope to see more cross border deals in the future.

Medopad of England raises $28M as its first close in Series A

The company is shooting for a much larger round; aiming to raise over $120M. Medopad is a comprehensive mobile platform for a variety of constituents. For example, Medopad has dedicated apps for rare diseases, cancer or cardiovascular diseases. For pharma, their dedicated apps cover drug as digital as well as clinical trials. We wish them well, but it sound like they are trying to boil the ocean. The main investor in this round is NWS Holding, a Chines firm.

Mitsui buys NOBORI of Japan for $20M

NOBORI is a PACS company with operations mainly in Tokyo. Mitsui has a good size healthcare group. Last year the company bought two large healthcare staffing companies in the U.S. alone.

TytoCare of Israel bags $25M in Series C to grow U.S. telehealth sales and enter the Chinese market

The company’s  FDA-approved digital stethoscope is one of the most interesting products that we have seen in years.

The digital stethoscope is the centerpiece of three telehealth packages Tyto is pitching to consumers and healthcare organizations. Tyto’s packages feature devices that enable remote doctors to listen to a patient’s heart, lungs and abdomen, and see their ear canal, skin and throat. The patient can either send these files to their doctor or connect with them for a real-time remote video exam.

China’s Ping An led the round with the support of Cambia Health Solutions, Walgreens, OrbiMed, and others. The company has raised $40M to date.

Ping An division, Good Doctor of China, receives $400M investment from Softbank prior to its public listing and its sister division, Ping An Healthcare Technology raises $1.1B

Ping An is one of the largest conglomerates in China involved in fintech and healthcare. Good Doctor is the largest healthcare portal in terms of traffic, with over 190 million registered users and more than 30 million monthly active users. The sister subsidiary, Ping An Healthcare Technology, covers 800 million people across 70% of the cities in China. It provides comprehensive healthcare and business insurance services in 250 cities. Softbank participated in funding the second division as well.

Orange Healthcare buys Enovacom SAS of France

Orange Healthcare is the subsidiary of Orange the French telephony company. The target is the leading expert in interoperability software. Over 1,500 healthcare institutions use Enovacom’s solutions. Orange Healthcare is an established player in secured data hosting solutions. This is an intelligent downstream acquisition that will give it much credibility.

Siemens plans to float its medical imaging and diagnostics business Healthineers on the Frankfurt stock exchange

The IPO is expected to value the business between $44-50B and it will be Germany’s biggest listing since Deutsche Telecom public offering.