On March 13 Charles River announced the acquisition of Galapagos NV’s CRO services businesses: Argenta and BioFocus. To finance the acquisition, Charles River used a combination of cash and debt from its existing euro-denominated revolving credit facility. As a result, we estimate 2014 interest expense will increase by $2.8 million, to $9.6 million. CRL trades…
Bottomline Technologies, Inc. Andera Acquisition Positive Addition to Commercial Banking Solutions
Yesterday, Bottomline Technologies announced that it agreed to purchase Andera, a provider of customer acquisition solutions for banks and credit unions. The company has over 500 customers and has helped process more than 4.5 million new account applications. More specifically this offering will pair with the recent Intuit acquisition and will focus on providing commercial…
The Ultimate Software Group Seminar Reiterates Why Customers Are Choosing UltiPro
Last week Ultimate Software provided prospective customers the opportunity to view demonstrations of the product, learn more about Ultimate Software, and network with other companies facing similar HR and payroll challenges. The seminar was well attended, with roughly 25 attendees. Most of the attendees we spoke with were looking to replace existing ADP or Ceridian…
CMS Revises Price to $2,200 from $1,500
Shortly before the markets closed Tuesday, CMS published its response to comments received during the January/February comment period related to the 48% price cut in CPT code 81211. Based on comments received, CMS opted to revise the price upward to $2,200. After the broad 0.75% reduction to the Medicare Clinical Lab Fee Schedule in 2014,…
Exact Sciences Corporation Quick Hits
Exact Sciences Corporation Quick Hits
Halozyme Therapeutics Positive Trial Results With Hylenex
Halozyme Therapeutics Positive Trial Results With Hylenex
ICON Acquisition of Aptiv Solutions Consistent With Strategy
Monday, March 31, ICON announced its intention to acquire Aptiv Solutions, a provider of global outsourced development services, for roughly $145 million. The company focuses on technology to enable adaptive clinical trials—a nice complement to ICON’s existing software offering through Firecrest and ICONIK. In addition, Aptiv owns an oncology focused full service CRO in Japan.…
Stryker Corporation Patient Safety Acquisition Update
Stryker Corporation Patient Safety Acquisition Update
IHS Inc. Investor Day Reinforces Steady Progress
IHS held its annual investor day in New York City on Tuesday . In large part, the trends and data points management communicated during the event reiterated points from the last two quarterly conference calls and the messages from our visit to headquarters last week, and was consistent with the overarching theme from last year’s…
Cardinal Health, Inc. Expanding Preferred Products Platform With AccessClosure Acquisition
On Wednesday afternoon, April 2, Cardinal Health announced the acquisition of AccessClosure, a leading U.S. manufacturer of extravascular closure devices. Strategically, this deal provides Cardinal with a platform to expand its preferred products business into another physician preference category—cardiovascular