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Sarah Godfrey
31 October 2017

HBM Healthcare Investments top holding AAA receives takeover bid from Novartis

Tender offer for 100% of radiotherapeutic oncology specialist Advanced Accelerator Applications at 25% premium to 30 September valuation

Switzerland-based global healthcare giant Novartis has announced a takeover bid for Advanced Accelerator Applications (AAA), the largest holding of specialist investment fund HBM Healthcare Investments (HBMN). The deal values AAA, whose Lutathera treatment for neuroendocrine tumours was granted EU approval in September 2017, at US$3.9bn.