M&A Deal Summary

Patient Square Capital and Gurnet Point Capital Acquire Radius Health

On June 23, 2022, private equity firms Patient Square Capital and Gurnet Point Capital acquired life science company Radius Health for 890M USD

Acquisition Highlights
  • This is Patient Square Capital’s 1st and Gurnet Point Capital’s 2nd transaction in the Life Science sector.
  • This is Patient Square Capital’s 3rd and Gurnet Point Capital’s largest (disclosed) transaction.
  • This is Patient Square Capital’s 4th and Gurnet Point Capital’s 3rd transaction in the United States.
  • This is Patient Square Capital’s 1st and Gurnet Point Capital’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2022-06-23
Target Radius Health
Sector Life Science
Buyer(s) Patient Square Capital
Gurnet Point Capital
Deal Type Going Private
Deal Value 890M USD
Advisor(s) J.P. Morgan Securities (Financial)
Ropes & Gray (Legal)

Target

Radius Health

Boston, Massachusetts, United States
website
Radius is a global biopharmaceutical company focused on addressing unmet medical needs in the areas of bone health, neuro- orphan diseases, and oncology. Radius’ lead product, TYMLOS® (abaloparatide) injection, was approved by the U.S. Food and Drug Administration for the treatment of postmenopausal women with osteoporosis at high risk for fracture. Radius Health is based in Boston, Massachusetts.

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Buyer(S) 2

DESCRIPTION

Patient Square Capital is a private investment firm specializing in the healthcare sector. The Firm seeks opportunities to invest broadly across the healthcare industry, including technology-enabled services, biopharmaceuticals, the pharmaceutical value chain, medical devices, diagnostics, providers, digital health and consumer health. Patient Square Capital was formed in 2020 and is headquartered in Menlo Park, California.


DEAL STATS #
Overall 4 of 8
Sector (Life Science) 1 of 2
Type (Going Private) 2 of 4
State (Massachusetts) 1 of 1
Country (United States) 4 of 8
Year (2022) 3 of 5
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-02 Enavate Sciences

Menlo Park, California, United States

Enavate Sciences is a platform dedicated to supporting therapeutic companies advancing medicines and enabling technologies with transformative potential to address patient need. Through the application of capital support and operational experience, Enavate strives to enable and empower a diverse portfolio of therapeutics companies to accelerate innovation. Enavate Sciences is based in Menlo Park, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-27 Eargo

San Jose, California, United States

Eargo is a consumer-focused medical device company that develops and sells hearing aids to assist people with hearing loss in the United States. The company sells its products through online stores. Eargo was formed in 2010 and is based in San Jose, California.

Buy -
DESCRIPTION

Gurnet Point Capital is private investment group focused on the healthcare and life sciences sectors. The Firm looks to invest across all stages of product development through to commercialization and does so with an approach that is a hybrid of venture and private equity investing strategies. Gurnet Point Capital was formed in 2015 and is headquartered in Cambridge, Massachusetts.


DEAL STATS #
Overall 4 of 5
Sector (Life Science) 2 of 3
Type (Going Private) 3 of 4
State (Massachusetts) 1 of 2
Country (United States) 3 of 4
Year (2022) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-11 Corium

Grand Rapids, Michigan, United States

Corium is a commercial-stage biopharmaceutical company focused on the development, manufacture, and commercialization of specialty pharmaceutical products that leverage the company’s broad experience with advanced transdermal and transmucosal delivery systems. Corium was founded in 1995 and is based in Grand Rapids, Michigan.

Buy $504M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-06 Paratek Pharmaceuticals

Boston, Massachusetts, United States

Paratek Pharmaceuticals is a bio-pharmaceutical company focused on the development and commercialization of innovative therapies based upon its expertise in novel tetracycline chemistry. Paratek Pharmaceuticals was founded in 1996 and is based in Boston, Massachusetts.

Buy $462M