Bayer Healthcare’s MedRad unit buys Pathway Medical | Mergers & Acquisitions Roundup

Bayer

Bayer HealthCare’s (ETR:BAYN) MedRad subsidiary paid an undisclosed amount for Pathway Medical Technologies Inc. and its atherectomy technology.

Kirkland, Wash.-based Pathway makes mechanical devices used to the clear blood vessel blockages in the leg known as peripheral arterial disease. The devices cut away the arterial plaque that constricts blood flow in the leg.

Sign up to get our free newsletters delivered right to your inbox.

“The combination of MedRad and Pathway Medical Technologies underscores our strategic commitment to the treatment of patients in the growing interventional field,” Bayer HealthCare chairman Dr. Jorg Reinhardt said in prepared remarks. “Pathway’s products complement MedRad Interventional’s current and future portfolio including our injectors, thrombectomy devices and the Cotavance paclitaxel-coated balloon catheter with Paccocath technology and will enable us to extend value to customers and patients through broader product options to diagnose and treat PAD.”

Read more merger & acquisition news from MassDevice.com

Funding

Philips buys Sectra AB’s mammography business for $82 million

Royal Philips Electronics (NYSE:PHG) paid €57.5 million, or about $82.2 million, for Sectra AB’s (STO:SECT B) MicroDose mammography business.

The all-cash deal excludes the Swedish company’s mammography operations in Australia and New Zealand, “where Sectra will continue to sell and service the unique MicroDose mammography modality under a separate distribution agreement with Philips,” according to a press release.

The business accounted for about 14 percent of Sectra’s sales last year and employs roughly 110 people. The buyout includes a five-year, €12.5 million ($17.9 million) earnout provision, according to the release.
Read more

Zynex announces bid for NeuroDyne Medical

Zynex Inc. (OTC:ZYXI) put up a bid for NeuroDyne Medical Corp., a Cambridge, Mass-based maker of sEMG and autonomic nervous systems monitoring devices for an undisclosed amount.

“This potential acquisition is strategic for us, as we believe it will provide us a rapid entrance into the neurodiagnostic market and will allow us to diversify our current product offerings,” Zynex CEO Thomas Sandgaard said in prepared remarks. “NeuroDyne also has established global sales channels that should help our international sales growth.”
Read more

BAETA Corp. probes possible sale

BAETA Corp. (OTC:BAEA) hired Imagine Growth Strategy Inc. to investigate “an array of potentially beneficial financial transactions, including the targeting of potential mergers and acquisitions,” according to a press release.

“We welcome the opportunity to work with the Imagine Growth Strategy as we seek to introduce exciting and revolutionary new approaches for healthcare management to the marketplace,” CEO Len Pushkantser said in the release. “We are pleased to have a partner that recognizes the value of fact-based data that helps lead to faster diagnoses, improved treatment via remote monitoring, and improved patient health.”
Read more

Cerma spins out steam vein sclerosis business

French biotech firm Cerma is spinning out a new business, aiming to expand market share for its steam vein sclerosis treatment for varicose veins.

Cermavein’s SVS treatment is already on the market in France, Germany, Spain, The Netherlands, Scandinavia, Israel, Romania and the Baltic States and won a nod from Health Canada recently, according to a press release. The spinout also has a first round of fundraising under its belt and is readying a second round to back “the roll-out and expansion of its business,” according to the release.

The SVS treatment uses endovenous thermal ablation to treat varicose veins in a single procedure.

“The SVS technology has been proven to be simple to use in clinical practice, because our technology is flexible and our catheter can be easily introduced into all veins, making the procedure easy for physicians to carry out,” Cermavein CEO Dr. Sophie Humbert said in prepared remarks. “We have a great opportunity to fill a genuine unmet medical need in many markets and thanks to our technology’s features, the size of our potential market is significantly increased. For example, in the United States 75 percent of patients need multiple treatments that now could be done in one single session using SVS.”
Read more

CAE Healthcare picks up METI for $130 million

CAE Healthcare paid $130 million for Medical Education Technologies Inc. in a move to expand its footprint in the medical simulation market.

“The acquisition of METI is an important step in the advancement of our healthcare strategy because it expands CAE Healthcare’s product portfolio and gives it much greater market access,” CAE president & CEO Chief Executive Marc Parent said in prepared remarks. “With this acquisition, our New Core Markets segment, comprised of CAE Healthcare and CAE Mining, achieves greater critical mass. We expect this segment to achieve more than C$120 million of revenue and to be profitable in fiscal 2013. METI is a premier organization with a global customer footprint and distribution channels, an extensive portfolio of products and services, a solid management team and a proven track-record of profitability and customer service. We welcome Michael Bernstein, CEO of METI, who becomes President of CAE Healthcare, we welcome the METI team and look forward to providing our new and existing customers with the most innovative, best-in-class training solutions and continuous service support.”
Read more

RSS From Medical Design & Outsourcing

  • Athermal laser machining cuts bioabsorbable polymers and more
    A the recent MD&M East trade show in New York, Norman Noble, discussed the capability of athermal laser manufacturer. The company has developed the Noble S.T.E.A.L.T.H. (System To Enable Ablation Laser Technology Haz-free). The athermal laser machining process was developed to create precise features in any material, including bioabsorbable polymers, shape memory metals and other […]
  • Exciting possibilities for metallic glass in the medical device world
    Researchers are exploring the potential of metallic glass as a versatile, pliable material that is stronger than steel, with a bevy of possible medical device applications. Yale University engineers have discovered a unique method for designing metallic glass nanostructures across a wide range of chemicals, a technique that could have applications for everything from watch […]
  • Strong Precision Technologies’ medical divisions to unify under MedTorque brand
    Strong Precision Technologies announced on July 2, 2015, that its two medical divisions will now go to market under a single brand, MedTorque. The move reflects the increasing integration of the division formerly known as Inland Midwest with MedTorque, its sister division in Kenosha, WI. “We will continue providing our customers with the personalized level of service […]
  • Olympus offers next-day product replacement guarantee for medical devices
    Olympus, a medical and surgical procedures solutions company, announced that it is guaranteeing next-day replacements for surgical equipment at no additional charge. Olympus is the first surgical product manufacturer to offer this type of guarantee. The service became available to customers with an Olympus Full Service Agreement earlier this year. “Canceled procedures can be costly for healthcare facilities […]
  • More accurate prediction on prognosis in multiple myeloma from SkylineDx
    SkylineDx, a biotechnology company specializing in the development and commercialization of genetic tests, is launching its MMprofiler assay. This test enables clinicians to more accurately predict the prognosis of patients with multiple myeloma (bone marrow cancer) than traditional methods. The MMprofiler measures the activity of 92 genes which are directly or indirectly related to the […]
  • Flint Mobile swaps card reader for camera, accept mobile payments anywhere
    Flint Mobile, the swipe-free mobile payments app, has significantly expanded its payment management and loyalty capabilities for small, service-centric businesses, like the ones run by on-the-go medical equipment professionals. The toggle-free mobile technology makes the process quite simple for both parties, as all transactions are conducted through the mobile device’s camera without the need of any external […]
  • Should scientists be allowed to genetically alter human embryos?
    Scientists have at their disposal, a way to explore the possible prevention of genetic diseases before birth. But should they? Currently, the most promising path forward involves editing the genes of human embryos, a procedure threaded with controversy. An article in “Chemical & Engineering News” (C&EN), the weekly newsmagazine of the American Chemical Society (ACS), parses […]
  • Tackling chronic sinusitis by addressing underlying factors
    The stuffy noses and sinus pressure of head colds are uncomfortable, but for most people, they go away within days. For those with chronic sinusitis, however, those symptoms and others drag on for weeks. Now scientists are onto a potential new therapy that could address one of the underlying factors associated with the condition. They […]
  • Implantable “artificial pancreas” could help diabetes patients control their blood sugar
    Living with Type 1 diabetes requires constant monitoring of blood sugar levels and injecting insulin daily. Now scientists are reporting in the American Chemical Society (ACS) journal, “Industrial & Engineering Chemistry Research,” the development of an implantable “artificial pancreas” that continuously measures a person’s blood sugar or glucose level and can automatically release insulin as […]
  • Drug Deactivation program roll out to all facilities for safe disposal of unused prescription medications
    Verde Technologies announced that New Brighton-based Meridian Behavioral Health, the largest for-profit substance abuse and addiction treatment group in Minnesota, has become its most recent partner in the deactivation and safe disposal of prescription medications including methadone. Meridian is the first behavioral health group to roll out the Deterra Drug Deactivation System to all 17 […]
  • Lophius Biosciences introduces T-activated ImmunoScan Cocktail
    Lophius Biosciences announced the commercial launch of T-Track ImmunoScan and T-activated ImmunoScan Cocktail. Based on a proprietary and very specific cocktail of stimulants in combination with the Company’s T-activation technology, T-Track ImmunoScan and T-activated ImmunoScan Cocktail specifically target different cell types involved in both the adaptive and innate immune system. T-Track ImmunoScan and the T-activated […]

Leave a Reply