Selected Transactions
Covington Associates is continually building upon its expertise in the Business Services, Consumer & Industrial, Healthcare, and Technology sectors. Since inception, Covington has completed more than 200 transactions globally for both private and publicly traded companies with compiled transaction value in excess of $15 billion.
Business ServicesConsumer and IndustrialHealthcareTechnology
Alere Health acquired by Optum
Covington Associates LLC served as sole financial advisor to Alere Health, a provider of condition management, case management, wellbeing, wellness and women’s and children’s health services to regional and local health plans, Fortune 500 employers and state governments, to Optum for $600 million in cash. >Press Release
Inverness Medical Technology, Inc. acquired by Johnson & Johnson
Inverness Medical Technology, Inc. (AMEX:IMA) is a publicly-held developer, manufacturer, and marketer of innovative products focused primarily on diabetes self-management. Covington Associates advised IMA in the $1.3 billion sale to Johnson & Johnson (NYSE:JNJ), the world's most comprehensive and broadly-based manufacturer of health care products and related services. >Press Release
MacroHelix acquired by McKesson
Covington Associates announced it acted as exclusive financial advisor to MacroHelix, a provider of in-hospital and contract pharmacy 340B management solutions to hospitals and health systems across the country, in its sale to McKesson (NYSE: MCK).
Covington Associates advises On2 Technologies on its sale to Google
Covington Associates acted as financial advisor to On2 Technologies, Inc. (NYSE Amex: ONT), a creator of advanced video compression technologies, in its sale to Google Inc. (NASDAQ: GOOG). >Press Release
Magellan Biosciences sells its TREK Microbiology Business to Thermo Fisher Scientific
Covington Associates acted as exclusive financial advisor to Magellan Biosciences in its sale of TREK Diagnostic Systems, the Company's microbiology business, to Thermo Fisher Scientific (NYSE: TMO). >Press Release
Premier Source acquired by AmerisourceBergen
Covington Associates acted as exclusive financial advisor to Premier Source, a privately held company that provides consulting and reimbursement services to medical device, pharmaceutical, molecular diagnostic, and biotechnology manufacturers, as well as other health services companies, in its sale to AmerisourceBergen Corporation (NYSE:ABC). >Press Release
Pluromed acquired by Sanofi Biosurgery
Pluromed, a medical technology company pioneering the use of injectable plugs to improve the safety, efficacy and economics of medical interventions was acquired by Sanofi Biosurgery (NYSE: GCVRZ). >Press Release
Spaulding and Slye merged with Jones Lang LaSalle
Covington Associates advised Spaulding & Slye, a commercial real estate services and investment company, in its merger with Jones Lang LaSalle (NYSE: JLL). >Press Release
Galt acquired by Cerner Corporation
Covington Associates LLC has advised Galt Associates, Inc., a leading provider of safety and risk management solutions for pharmaceutical, medical device and biotechnology companies, in its sale to Cerner Corporation (NASDAQ: CERN), a leading supplier of healthcare information technology. The terms of the transaction were not disclosed. >Press Release
GRAFTcath has sold a minority interest to Boston Scientific
Covington Associates LLC has acted as the sell-side advisor to GRAFTcath, Inc. in its sale of a minority interest of the company to Boston Scientific Corporation (NYSE: BSX), one of the world's largest medical device companies. The terms of the transaction were not disclosed. >Press Release
Penrith Corporation acquired by Siemens Healthcare
Covington Associates announced it acted as exclusive financial advisor to Penrith Corporation, a developer of wireless ultrasound systems for interventional guidance, in its sale to Siemens Healthcare (Siemens AG NYSE: SI). >Press Release
HistoRx acquired by Genoptix
Covington Associates announced it acted as exclusive financial advisor to HistoRx, which provides a solution to the need for quantitative, standardized and reproducible analysis of protein biomarkers in tissue, in its sale to Genoptix, a subsidiary of the Novartis Pharmaceuticals Division.
Med-Vantage, Inc. acquired by IMS Health
Covington Associates acted as exclusive financial advisor to Med-Vantage, Inc., a software solutions company, in its sale to IMS, a global provider of information services for the healthcare industry. >Press Release
CPR+ acquired by Mediware
Covington Associates, LLC announced its role as financial advisor to Definitive Homecare Solutions (dba CPR+), the provider of the CPR+ software application for HME, home infusion and specialty pharmacy industries, in its sale to Mediware Information Systems, a Lenexa, KS based provider of specialized software solutions targeting specific processes within healthcare institutions. >Press Release
Alere Medical acquired by TA Associates
Covington Associates LLC announced that it acted as financial advisor to Alere Medical Incorporated, a leading disease management company in its sale to management and TA Associates, a private equity and buyout firm. The transaction is valued at $175 million. >Press Release
National Evaluation Systems acquired by Pearson plc
Covington Associates advised Amherst, MA-based National Evaluation Systems, Inc., the leading provider of customized state assessments for teacher certification in the U.S. in its sale to Pearson plc (NYSE: PSO), an international education and information company. >Press Release
Bard Access Systems acquires select assets of Spire Corporation
Covington Associates advised Spire Corporation (Nasdaq: SPIR) in its sale of substantially all of the assets of its hemodialysis catheter business to Bard Access Systems, Inc. >Press Release
Eidetics acquired by Quintiles Transnational Corp.
Covington Associates acted as financial advisor to Eidetics, a privately held data analytics and market research consulting company, in its sale to Quintiles Transnational Corp. >Press Release
CanAm Care acquired by Perrigo
CanAm Care, a distributor of diabetes care products, in the sale of substantially all of its assets to Perrigo Company (Nasdaq: PRGO; TASE). > Press Release
JJWild, Inc. acquired by Perot Systems International
Covington Associates LLC announced that it has acted as exclusive financial advisor to JJWild, Inc., a leading provider of integrated technology solutions and consulting services for the MEDITECH healthcare information systems community, in its sale to Perot Systems Corporation (NYSE: PER), a worldwide provider of information technology and business solutions. The transaction is valued at approximately $89 million, subject to certain adjustments and offsets. Covington Associates had previously advised JJWild on a round of debt and equity financing in 2006, provided by GE Healthcare Services and Advent International, respectively. > Press Release
Inverness Medical Innovations has formed a Joint Venture with Proctor & Gamble
Covington Associates LLC announced today that it acted as the financial advisor to long standing buy-side client Inverness Medical Innovations, Inc. (AMEX: IMA) in its Joint Venture with Procter & Gamble (NYSE: PG), an international consumer products company. The combined venture is designed to develop, manufacture and market consumer diagnostic products outside the fields of cardiology and diabetes. The joint venture valued at $325 million. > Press Release
AcroMetrix acquired by Life Technologies
Covington Associates acted as exclusive financial advisor to AcroMetrix, a provider of molecular and serological diagnostic quality control products to clinical laboratories, blood screening centers and in-vitro diagnostic (IVD) manufacturers, in its sale to Life Technologies Corporation (NASDAQ: LIFE), a provider of innovative life science solution. > Press Release
VTI acquired by GE Medical Systems
Visualization Technology, Inc (VTI) is a privately-held manufacturer of intraoperative systems and related products for use in image-guided surgery. Covington Associates advised VTI in its sale to GE Medical Systems, a unit of General Electric Company, (NYSE:GE). The terms of the transaction were not disclosed. >Press Release
Inverness Medical Innovations has acquired Biosite
Covington Associates LLC has advised Inverness Medical Innovations, Inc. (AMEX: IMA), a leading global developer of advanced diagnostic devices and proprietary electrochemical and other technologies in a variety of professional diagnostic and consumer-oriented applications including immuno-diagnostics with a focus on women's health, cardiology and infectious disease on its $1.8 billion acquisition of Biosite, Inc. (NASDAQ: BSTE), a leading provider of rapid diagnostics products and antibody development technologies.
Lily acquired by Ryder
Covington Associates LLC acted as financial advisor to Lily Transportation Corp, a diversified transportation services company, in the sale of their Full Service Truck Leasing, Commercial Truck Rental and Contract Maintenance businesses to Ryder System, Inc. (NYSE: R).