M&A Deal Summary

Shionogi Acquires Victory Pharma

On July 18, 2011, Shionogi acquired life science company Victory Pharma from Ampersand Capital Partners and EW Healthcare Partners for 127M USD

Acquisition Highlights
  • This is Shionogi’s 1st transaction in the Life Science sector.
  • This is Shionogi’s largest (disclosed) transaction.
  • This is Shionogi’s 1st transaction in the United States.
  • This is Shionogi’s 1st transaction in California.

M&A Deal Summary
Date 2011-07-18
Target Victory Pharma
Sector Life Science
Buyer(s) Shionogi
Sellers(s) Ampersand Capital Partners
EW Healthcare Partners
Deal Type Add-on Acquisition
Deal Value 127M USD

Target

Victory Pharma

San Diego, California, United States
Victory Pharma, Inc., a specialty pharmaceutical company, engages in acquiring, developing and marketing prescription pharmaceutical products for the treatment of pain and related conditions. The company also develops products that treat pain and minimize side effects associated with widely-used pain therapeutics. Its products include NAPRELAN tablets for the treatment of rheumatoid arthritis, osteoarthritis, XODO for the relief of moderate to moderately sever pain, and Dolgic Plus tablets for tension headache.

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Buyer(S) 1

Buyer

Shionogi

Florham Park, New Jersey, United States
Category Company
Sector Life Science
DESCRIPTION

Shionogi Inc. is the U.S.-based group company of Shionogi & Co., Ltd., a leading Japanese pharmaceutical company. Shionogi Inc., develops and commercializes pharmaceutical products that address unmet medical needs. Together with our Japanese corporate parent, Shionogi has been providing innovative medicines essential to people's health for over 130 years. This partnership sets the stage for further expansion of our global business with expectations for Shionogi Inc. to become an even more significant contributor to our world-wide results.

DEAL STATS #
Overall 1 of 2
Sector (Life Science) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (California) 1 of 2
Country (United States) 1 of 2
Year (2011) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-06 Shionogi - Keflex

United States

Shionogi - Keflex (cephalexin capsules, USP) is a first-generation cephalosporin antibiotic shown to be active against strains of both gram-positive and gram-negative aerobes in vitro and in clinical infections.

Sell -

Seller(S) 2

SELLER

Ampersand Capital Partners

Wellesley, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1988
PE ASSETS 2.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Ampersand Capital Partners is a middle-market private equity group that concentrates on growth equity investment opportunities in the healthcare sector. The Firm looks to invest $10 to $100 million in businesses with $10 to $100 million of revenue. Specific areas of interests within healthcare include lab products, specialty diagnostic equipment, pharmaceutical outsourcing, and specialty pharma. Ampersand generally prefers to be the first and sole institutional investor. Ampersand was formed in 1988 and is based in Wellesley, Massachusetts.

DEAL STATS #
Overall 16 of 53
Sector (Life Science) 6 of 24
Type (Add-on Acquisition) 11 of 38
State (California) 3 of 8
Country (United States) 16 of 50
Year (2011) 1 of 2
Size (of disclosed) 9 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-14 CoreLab Partners

Princeton, New Jersey, United States

CoreLab Partners, Inc. is a provider of linical trials, medical image assessment, and cardiac safety solutions.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-08-29 Modified Polymer Components

Sunnyvale, California, United States

Modified Polymer Components, Inc. is specializes in the design, development, and manufacture of highly precise polymer components and assemblies. MPC’s extensive production capabilities enable it to perform secondary operations for all types of polymer tubing, including complex multilumen extrusions, to create ramps, tips, and almost any imaginable feature.

Buy -
SELLER

EW Healthcare Partners

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1985
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Essex Woodlands Health Ventures is a growth equity and venture capital specialist investment firm focused on opportunities across the healthcare sector. Specific areas of interest include biotechnology, pharmaceuticals, medical devices, and healthcare services/IT. Historically, Essex invested primarily in early and later-stage situations; however, today the firm also makes growth capital investments between $20 - $60 million in companies valued between $50 - $250 million, as well as private investments in public entities (PIPEs). Essex Woodlands was formed in 1985 and offices in Palo Alto, California; New York City; Houston, Texas; Shanghai and London.

DEAL STATS #
Overall 26 of 52
Sector (Life Science) 10 of 17
Type (Add-on Acquisition) 17 of 34
State (California) 10 of 16
Country (United States) 22 of 45
Year (2011) 4 of 5
Size (of disclosed) 18 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-16 Orthovita

Malvern, Pennsylvania, United States

Orthovita is a unique spine/orthopedic surgical biomaterials company offering advanced bone regeneration and soft tissue healing technologies. Their experience lies in developing and distributing novel, high-tech, synthetic-based biomaterial products. Orthovita currently has four key commercial product platforms: Vitoss Bone Graft Substitute, Vitagel Surgical Hemostat, Cortoss Synthetic Cortical Bone, and Imbibe Delivery and Disposable Systems.

Sell $316M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-09-06 BreatheAmerica

Nashville, Tennessee, United States

BreatheAmerica develops and operates diagnostic and treatment centers for chronic airway and immune system-related diseases. Through its allergy, sinus and asthma programs and immune therapy programs, BreatheAmerica centers concentrate the resources needed to diagnose and care for these interrelated and complex diseases that affect 25% of the country’s population. BreatheAmerica is based in Nashville, Tennessee.

Buy -
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