Healthcare Roundup – Genetic Tech up 95%, General Cannabis to acquire Hälsa Holdings

Published on: January 7, 2020
Author: Amy Liu

Genetic Tech up 95% on U.S. launch of breast cancer test

  • Thinly traded nano cap Genetic Technologies Limited (GENE +94.7%) rockets up on a whopping 333x surge in volume in reaction to the impending U.S. commercial launch of its GeneType for Breast Cancer test designed to assess breast cancer risk in patients at least 35 years old.
  • It plans to commence a limited release across 20 centers in eight states this quarter followed by full launch in Q2.

General Cannabis to acquire Hälsa Holdings; shares ahead 7%

  • General Cannabis (OTCQX:CANN +6.5%) inks a non-binding term sheet to acquire Hälsa Holdings, a company created to acquire assets in mature markets.
  • When the transaction closes, expected this quarter, the company will take ownership of contracts to acquire three cannabis dispensaries in California that collectively generate revenues of ~$12M.
  • Hälsa chief Chris Colón will become President of CANN reporting to CEO Steve Gutterman.

MedRisk acquires Select Provider Networks

  • MedRisk has acquired Select Provider Networks from Select Medical (SEM -2%).
  • SPNet provides a boutique specialty network of physical and occupational therapists to the workers’ compensation industry.
  • Under the new MedRisk ownership, SPNet will retain its name and operate independently.
  • “SPNet and MedRisk may have very different managed care programs, but one thing we share is a commitment to quality care for injured workers,” said MedRisk CEO Mike Ryan.
  • The purchase price was not disclosed.

Adma Bio up 4% on manufacturing and supply deal

  • ADMA Biologics (ADMA +4.4%) is up, albeit on below-average volume, in reaction to its five-year manufacturing and supply deal with an undisclosed partner to produce and sell plasma-derived intermediate fractions made with its Immune Globulin manufacturing process.
  • The company expects the partnership to contribute an additional $5M – 10M to its top line this year and next, adding that potential annual revenue could rise as high as $20M in 2022 – 2024.

Ensign acquires The Healthcare Center at Patriot Heights

  • Ensign (ENSG -1%) has acquired the real estate and operations of The Healthcare Center at Patriot Heights, a healthcare campus with 59 skilled nursing beds and 158 independent living units located in San Antonio, Texas.
  • This acquisition brings Ensign’s portfolio to 214 skilled nursing operations. Ensign owns the real estate at 90 healthcare operations.

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