M&A Deal Summary

Noven Pharmaceuticals Acquires JDS Pharmaceuticals

On July 10, 2007, Noven Pharmaceuticals acquired life science company JDS Pharmaceuticals from Altaris and Galen Partners for 187M USD

Acquisition Highlights
  • This is Noven Pharmaceuticals’ 1st transaction in the Life Science sector.
  • This is Noven Pharmaceuticals’ largest (disclosed) transaction.
  • This is Noven Pharmaceuticals’ 1st transaction in the United States.
  • This is Noven Pharmaceuticals’ 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2007-07-10
Target JDS Pharmaceuticals
Sector Life Science
Buyer(s) Noven Pharmaceuticals
Sellers(s) Altaris
Galen Partners
Deal Type Add-on Acquisition
Deal Value 187M USD
Advisor(s) Piper Jaffray Companies
Inverness Advisors (Financial)
Latham & Watkins (Legal)

Target

JDS Pharmaceuticals

Morrisville, Pennsylvania, United States
JDS is a pharmaceutical company focused on the central nervous system. The company sold Pexeva and Lithobid® through its specialty salesforce, and had a pipeline of products in clinical development.

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Buyer(S) 1

Buyer

Noven Pharmaceuticals

Miami, Florida, United States
Category Company
Founded 1987
Sector Life Science
Employees650
DESCRIPTION

Noven Pharmaceuticals, Inc. pharmaceutical company engaged in the research, development, manufacture, marketing and sale of prescription pharmaceutical products.

DEAL STATS #
Overall 1 of 1
Sector (Life Science) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 1 of 1
Year (2007) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-01 Noven Therapeutics - NDA Lithobid

United States

Noven Therapeutics - NDA Lithobid comprises the pharmaceutical preparation Lithobid, a 300 mg tablet with lithium carbonate extended release.

Sell $12M

Seller(S) 2

SELLER

Altaris

New York City, New York, United States
Category Private Equity Firm
Founded 2003
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Altaris is a specialist private equity firm that targets investments in the healthcare industry. Altaris focuses its investment activity across the healthcare sector, including pharmaceuticals, medical devices, healthcare services and healthcare IT. Altaris will consider both control and non-control investment situations requiring $15 to $50 million of equity capital. Prospective investment situations include corporate carve-outs, leveraged buyouts, and growth equity/recapitalization investments. Altaris was formed in 2004 and is based in New York, New York.

DEAL STATS #
Overall 1 of 24
Sector (Life Science) 1 of 2
Type (Add-on Acquisition) 1 of 10
State (Pennsylvania) 1 of 3
Country (United States) 1 of 22
Year (2007) 1 of 1
Size (of disclosed) 6 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-25 Penlon

Abingdon, United Kingdom

Penlon is an UK manufacturer of anaesthesia equipment. Penlon designed and manufactured anaesthetic vaporisers, anaesthesia management systems and related products primarily used by anaesthetists in hospital induction rooms, operating theatres and recovery rooms. Penlon was founded in 1943 and is based in Abingdon, United Kingdom.

Buy £28M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-07 Precyse

Wayne, Pennsylvania, United States

Precyse is a provider of outsourced medical transcription, medical coding, and other document management services to U.S. based hospitals and other healthcare providers. The company also provides healthcare facilities with cutting-edge, outsourced administrative functions. Precyse was founded in 1999 and is based in Wayne, Pennsylvania.

Buy -
SELLER

Galen Partners

Stamford, Connecticut, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1990
PE ASSETS 1.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Galen Partners is a private equity firm that targets investments in the healthcare industry. Areas within healthcare that Galen will consider include medical devices & technology, specialty pharmaceuticals, and information technology/services. Galen typically invests between $10 and $30 million per transaction in companies with a proprietary product or service that have attained revenues above $10 million. Prospective transactions include growth equity investments, complete buyouts, family business or other recapitalizations, going-private transactions, roll-overs of a portion of existing equity, and management buyouts. Galen Partners was formed in 1990 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 7 of 26
Sector (Life Science) 1 of 3
Type (Add-on Acquisition) 7 of 22
State (Pennsylvania) 2 of 3
Country (United States) 7 of 26
Year (2007) 2 of 3
Size (of disclosed) 6 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-01 National Rehab Equipment

Moon Township, Pennsylvania, United States

National Rehab Equipment, Inc. is a provider of home healthcare product distribution and reimbursement services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-10-27 MedAssets

Alpharetta, Georgia, United States

MedAssets, Inc. is a provider of outsourced procurement and reimbursement cycle management services to hospitals and other healthcare providers through a combination of traditional GPO business and web-based technology.

Buy -
Mergr

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