AMAG Pharmaceuticals acquires Lumara Health's Maternal Health Business
AMAG Pharmaceuticals, a Massachusetts-based specialty pharmaceutical company, has completed the acquisition of Lumara Health, a St. Louis, Mo.-based specialty pharmaceutical company with a particular focus on maternal health. The transaction was announced on September 29, 2014 and included upfront consideration of $600 million in cash and 3,209,971 shares of AMAG common stock, and additional contingent consideration of up to $350 million based on the achievement of sales milestones.
Lumara Health is the exclusive marketer of Makena (hydroxyprogesterone caproate injection), the only FDA-approved product indicated to reduce the risk of preterm birth in women who are pregnant with one baby and who have delivered one preterm baby spontaneously in the past.
Lumara Health executive Ken Wilson will lead the new maternal health division within AMAG and will report to William Heiden, president and CEO of AMAG.
Wilson brings over 25 years of experience in the healthcare industry and, specifically, in the women's health space. Prior to joining Lumara Health as executive vice president of the company's maternal health division, Wilson held various leadership roles at Alere Health (formerly Matria Healthcare), and has many accomplishments in women's health, including physician practice enhancement programs, maternity and neonatal intensive-care unit (NICU) care management solutions for both Medicaid and commercial health plans, as well as pediatric experience for medically fragile children. Wilson also has experience in planning, directing and developing marketing, sales and managed care strategies.
Following the transaction, AMAG expects to have $100 million in cash and investments.