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Madison Dearborn buys Ikaria's commercial wing

Dec 26, 2013 - The Deal Pipeline
Mergers and Acquisitions

Chicago-based Madison Dearborn Partners LLC is taking a stake in Ikaria Inc. in a deal that values the cardio-pulmonary therapy company at $1.6 billion.

Hampton, N.J.-based Ikaria's PE owners, New Mountain Capital, Arch Venture Partners, Venrock and 5AM Ventures, are getting cash plus a 45% stake in a new parent company that will focus on developing cardio-pulmonary therapies.

They will also retain a stake in a new research company that will move forward research-stage work spun out...