M&A Deal Summary

Deerfield Management Acquires Nuvo Pharmaceuticals - TOPROL-XL

On August 10, 2018, hedge fund Deerfield Management acquired life science company Nuvo Pharmaceuticals - TOPROL-XL from Miravo Healthcare for 140M USD

Acquisition Highlights
  • This is Deerfield Management’s 2nd transaction in the Life Science sector.
  • This is Deerfield Management’s largest (disclosed) transaction.
  • This is Deerfield Management’s 1st transaction in Canada.
  • This is Deerfield Management’s 1st transaction in Ontario.

M&A Deal Summary

Date 2018-08-10
Target Nuvo Pharmaceuticals - TOPROL-XL
Sector Life Science
Buyer(s) Deerfield Management
Sellers(s) Miravo Healthcare
Deal Type Divestiture
Deal Value 140M USD

Target

Nuvo Pharmaceuticals - TOPROL-XL

Mississauga, Ontario, Canada
Nuvo Pharmaceuticals, Inc. - TOPROL-XL is a provider of biotechnological services in Ontario, Canada.

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Buyer(S) 1

Buyer

Deerfield Management

Investor Investor Investor Investor Investor

website


Category Hedge Fund
Founded 1994
PE ASSETS 8.0B USD
SizeMega
Type Sector Focused
DESCRIPTION

Deerfield Management is a hedge fund sponsor focused on public and private company investments in the healthcare sector. Deerfield was established in 1994 and is headquartered in New York City.


DEAL STATS #
Overall 2 of 4
Sector (Life Science) 2 of 3
Type (Divestiture) 1 of 1
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2018) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-21 Ablexis

San Francisco, California, United States

Ablexis LLC is a developer of AlivaMab Mouse technology, a unique, patented next- generation transgenic mouse platform for human therapeutic antibody discovery.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-05 Endologix

Irvine, California, United States

Endologix is a medical device company dedicated to improving patients’ lives by providing innovative therapies for the interventional treatment of vascular disease. Endologix was founded in 1992 and is based in Irvine, California.

Buy -

Seller(S) 1

SELLER

Miravo Healthcare

Mississauga, Ontario, Canada

website


Category Company
Founded 1983
SectorHealthcare Services
Employees100
Revenue 69M CAD (2021)
DESCRIPTION

Miravo Healthcare is a specialty pharmaceutical company with a diverse portfolio of products and technologies. Miravo Healthcare was founded in 1983 and is based in Mississauga, Canada.


DEAL STATS #
Overall 2 of 2
Sector (Life Science) 2 of 2
Type (Divestiture) 2 of 2
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2018) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-10 Aralez Pharmaceuticals - VIMOVO Royalties

Milton, Ontario, Canada

Aralez Pharmaceuticals, Inc. - VIMOVO Royalties is a provider of biotechnological services in Milton, Canada.

Buy $110M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-19 Aralez Pharmaceuticals - Commercial Products & Infrastructure Pharmaceutical Business

Milton, Ontario, Canada

Aralez Pharmaceuticals, Inc. - Commercial Products & Infrastructure Pharmaceutical Business is a specialty pharmaceutical company with a primary focus on the acquisition, licensing, development and promotion of healthcare products.

Buy $110M