Bidding war for Carestream heats up | Wall Street Beat

MassDevice.com Wall Street Beat

At least 5 major private equity players are vying for medical device company Carestream Health, including Bain Capital, Carlyle Group and KKR & Co., according to Reuters.

Onex Corp. is hoping to unload Carestream, formed in the 2007 spinout of Eastman Kodak Co.’s healthcare business, for up to $3.5 billion, the news service reported.

The other LBO players said to be in the hunt by "people familiar with the matter" include Thomas H. Lee Partners and Hellman & Friedman, Reuters reported.

Sign up to get our free newsletters delivered straight to your inbox

The bidding is past the 1st round, according to the anonymous sources, 1 of whom said Canadian private equity shop Onex bought Carestream from Kodak for $2.35 billion. Bidders’ valuations range from $2.7 billion to $3.5 billion, according to the news service.

 Angiotech swings to Q4 black
Angiotech Pharmaceuticals posted black ink for the 4th quarter ended Dec. 31, 2012, reporting profits of $5.3 million, or 42¢ per share, on sales of $57.5 million – an 11.7% sales increase.
Read more

 Lumenis sees 2012 profits surge 914%
Israeli medical device company Lumenis raised its 2012 profits to $7.0 million, up some 914%, on flat sales growth of 0.7% to $248.6 million.
Read more

 Oculeve raises nearly $8M for its drug/device dry eye treatment
Oculeve revealed in a regulatory filing that it’s raised $7.6 million from 9 unnamed investors. The South San Francisco-based company is developing a device designed to be placed adjacent to the lacrimal gland to stimulate endogenous tear secretion.
Read more

 Hologic closes LifeCodes sale to Immucor
Hologic (NSDQ:HOLX) said it closed the $85 million sale of its LifeCodes business to Immucor (NSDQ:BLUD).
Read more

 Analysts’ ups and downs

  • Abbott (NYSE:ABT): TheStreet reaffirms “hold” rating.
  • Baxter (NYSE:BAX): Morgan Stanley raises price target from $71 to $84, maintains “overweight” rating.
  • Becton Dickinson & Co. (NYSE:BDX): Jefferies & Co. raises price target from $96 to $107, reiterates “buy” rating.
  • Covidien (NYSE:COV): Jeffries raises price target from $66 to $75, maintains “buy” rating.
  • Edwards Lifesciences (NYSE:EW): Goldman Sachs reiterates Buy rating, lowers price target from $112 to $106; JPMorgan Chase reaffirms "neutral" rating, lowers price target to $82.
  • Insulet (NSDQ:PODD): Leerink Swann raises price target from $25 to $30, reaffirms “outperform” rating.
  • Intuitive Surgical (NSDQ:ISRG): Canaccord Genuity upgrades from "hold" to "buy" rating, lowers price target to $527 from $590; TheStreet reaffirms "buy" rating.
  • Vascular Solutions (NSDQ:VASC): Piper Jaffray initiates coverage with “overweight” rating, $18 price target.

RSS From Medical Design & Outsourcing

  • MTD Micro Molding releases micro materials menu
    MTD Micro Molding, a long-time leader in micro-injection molding, has released an updated “Materials Menu” of materials that can be successfully micromolded to help guide engineers at medical device companies. Material selection is a crucial step in product manufacturability. The correct material drives tolerance, dimension, strength, usabality, speed-to-market, design, critical features, and cost. Through MTD’s […]
  • MedTech Chat: Elastic technology for drug delivery
    Dr. Zhen Gu and Dr. Yong Zhu from North Carolina State University are both co-senior authors of a research paper describing their recent work. Dr. Gu, Dr. Zhu and other researchers from North Carolina State University and the University of North Carolina at Chapel Hill have developed a drug delivery technology that consists of an […]
  • B. Braun’s OEM Division offers large bore normally closed low-pressure check valves
    Infusion therapy and pain management device manufacturer B. Braun said today it is offering normally closed large-bore low-pressure check valves through its valve-focused contract manufacturing OEM division. The valves, offered by Bethlehem, Pa.-based B. Braun, are designed for the intermittent injection of fluids during medical treatment and open automatically when pressure is applied. The newly […]
  • Continuous 225W with natural convection for medical type BF power supply
    Powerbox, a European power supply company, introduces new Medline 225 series ac and dc single output open frame converters for medical type BF applications. The new OFM225 with its 3 x 5 in. footprint and 1.5 in. height is designed for a continuous output power of 225W with natural convection and 40°C ambient temperature, increasing to […]
  • Using data science to achieve ultra-low dose CT image reconstruction
    Prof. Jeff Fessler and Prof. Yong Long, Ph.D. of the University of Michigan-Shanghai Jiao Tong University (UM-SJTU) Joint Institute are collaborating on a project to develop a dramatically improved approach to low-dose X-ray CT image formation by extracting and using information from a big-data corpus of regular dose X-Ray Computed Tomography (CT) images. The research is […]
  • New vented dust caps from Qosina prevent damage and contamination on a new level
    Qosina is pleased to announce the addition of eleven new soft TPE vented dust caps (#11300, #11301, #11320, #11330, #11331, #11340, #11341, #11350, #11360, #11361 and #11380) in stock and ready for immediate delivery. These components are available in a variety of colors including blue, green, red, white and yellow; sizes range from 0.187 in. […]
  • Nader Najafi: A dream that saves lives
    Miniature wireless sensing and computing devices have the potential to improve people’s health, even save lives. Twenty years ago, working on microelectromechanical systems (MEMS) as a student at Michigan, Dr. Nader Najafi had a dream to be part of this future reality. He turned that dream to action when he left a promising career at […]
  • PBC Linear’s guide for approved bearing inspection method
    Understanding the method to properly inspect the Frelon liner in PBC Linear’s Simplicity plain bearings is essential to taking full advantage of the product. The Frelon liner supplies numerous attributes that make it preferable in many unique applications; however, being a teflon-based material requires a different method of inspection: Approved Inspection Method: Pin Gauges (AKA: Go or […]
  • 3W to 10W DIP-24 DC-DC converters have medical certification
    TDK announces the introduction of the TDK-Lambda PXC-M series of DC-DC converters. Operating over a 4:1 input range, the 3W, 6W and 10W products are enclosed in the industry standard 1.25 x 0.8 x 0.4 in. DIP-24 package. Applications include a wide variety of medical applications and battery powered equipment. With a 5,000 Vac input […]
  • How do you mend a broken heart? By converting fat cells into stem cells that can help that vital organ repair itself
    Editor’s Note: This article is written by Jeannie Kever and discusses the recent research from the University of Houston. There has been little time to savor the successes of the moment as Dr. Robert Schwartz and members of his lab push relentlessly toward their goal. Their goal is to begin clinical trials that will showcase how common fat cells, treated […]
  • MNX Global Logistics opens new Life Sciences Logistics Center in Amsterdam
    MNX Global Logistics announces the opening of its dedicated supply chain and logistics facility in Amsterdam, the Netherlands, located just outside of Amsterdam Airport Schiphol. This facility with validated temperature-controlled supply chain capabilities will serve as the operations and warehousing hub for its life sciences and medical device customers throughout Europe. “The demand for our services […]

Leave a Reply