Three announcements garnered a lot of attention and may have ripple effects for some time: Amazon’s acquisition of PillPack for just under $1 billion; KKR’s $5.57 billion purchase of Envision Healthcare; and GE’s announcement that it will sell a good portion of its healthcare IT business. One particularly dynamic area of M&A activity was telemedicine where there was strong evidence of consolidation in the sector as well as a diversification of business strategies. Patient engagement also continued to be an active area of focus for buyers with several types of mergers and acquisitions. There was also activity within media and marketing services businesses. The quarter was also punctuated by announcements of transitions regarding highly prominent executives involved with Outcome Health (new leadership put in place), Theranos (Founder and CEO Elizabeth Holmes indicted), and AthenaHealth (Co-founder and CEO Jonathan Bush resigned).
Details from the media over the past quarter:
KKR buys Envision for $5.57 billion