McKesson Corp. (NYSE: MCK) is acquiring CoverMyMeds, a technology-enabled company known to automate prescription drug approvals, from private equity firm Francisco Partners. The deal, which follows a previous partnership between the buyer and target, is valued up to $1.14 billion.
The quest for improvements and advancements within technology has been a driving force for M&A across a variety of industries. Healthcare technology is one of the many industries seeing the influence. Recent deals include: Zimmer Biomet Holdings Inc.’s purchase of physical therapy tech manufacturer RespondWell and its comp completed deal for CD Diagnostics, a developer of medical tests designed to advance joint infection treatments; Auris Surgical Robotics Inc.’s purchase of medical robot manufacturer Hansen Medical Inc.; MedData Inc. acquisition of hospital software developer Cardon Outreach; and Thoma Bravo’s deal for medical IT security firm Imprivata (NYSE: IMPR).