Deals Shaping The Medical Industry, September 2017

 
• By Beth Allan, Deanna Kamienski, Maureen Riordan, Steven Muntner, and Amanda Micklus

Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Dealmaking column is a survey of recent health care transactions listed by relevant industry segment – In Vitro Diagnostics, Medical Devices, and Pharmaceuticals – and then categorized by type – Acquisition, Alliance, or Financing. This month’s column covers deals announced in August 2017.

Dealmaking

Molecular diagnostics firm Cancer Genetics Inc. entered a financing agreement with Aspire Capital, through which Aspire will purchase, over the next two years, up to $16mm of CGI's common stock. Aspire committed to an immediate tranche of $3mm (1mm shares at $3; a 17% discount), and future tranches will be completed at CGI's discretion. The funding will support CGI's concurrent $12mm purchase of Australian CRO vivoPharm Pty. Ltd. (Aug.)

Natera Inc. (genetic testing for reproductive health) entered into a $100mm debt facility with existing investor OrbiMed Advisors. The company immediately drew down $75mm, and has until the end of 2018 to draw on the remaining $25mm

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