Integra LifeSciences (NSDQ:IART) agreed to acquire some of Tornier’s (NSDQ:TRNX) ankle and toe assets in the U.S., as the Dutch orthopedics company looks to satisfy anti-trust regulators about its pending, $3.3 billion merger with Wright Medical (NSDQ:WMGI). The deal calls for Integra to acquire the U.S. rights to Tornier’s Salto Talaris and Salto XT ankle replacement devices and […]
Mergers & Acquisitions
Pfizer closes $15B Hospira takeover
Pfizer (NYSE:PFE) yesterday closed its $15 billion acquisition of Hospira, its largest-ever buyout, expanding its portfolio of generic injectable drugs and copies of biotech medicines. Hospira makes generic versions of injectable drugs used in hospitals, pumps to deliver such medicine and also sells biosimilars or copies of biotech drugs. Pfizer paid $90 per share in cash, a 39% […]
Medtronic CEO: M&A means internal program cuts
Medtronic (NYSE:MDT) chairman & CEO Omar Ishrak said today that the company’s recent $1 billion M&A binge means that corresponding internal programs could get the axe. Asked during a conference call with analyts about the cumulative dilution from a string of smaller acquisitions, Ishrak said the 1st line of defense comes from cutting R&D. “Well, 1st of all […]
Cardiopulmonary Corp to merge with Nuvon
Connected healthcare focused Cardiopulmonary Corp. said Monday it will merge with medical device connectivity and clinical intelligence company Nuvon. The merger has been approved by both company’s boards of directors and is slated to close within the next 60 days, according to the companies, though terms and conditions of the merger were not released. “Nuvon and […]
HeartWare plunges on Valtech Cardio buyout
Shares of HeartWare International (NSDQ:HTWR) plunged 20.8% after the company announced a buyout of Israeli replacement heart valve maker Valtech Cardio. HTWR shares closed at $64.82 apiece yesterday as investors reacted to the highly dilutive terms of the deal, which was worth some $929 million based on HeartWare’s closing price the day before it was announced. It’s now worth about […]
Unilife to examine ‘strategic alternatives’
Unilife (NSDQ:UNIS) said today that interest from acquirers prompted it to tap Morgan Stanley & Co. as an advisor on potential “strategic alternatives” – financial code for seeking a buyer. “In keeping with the board’s commitment to act in the best interests of all shareholders, we have determined at this time that it is prudent to […]
Synergetics jumps 53% on $166m bid from Valeant Pharmaceuticals
Ophthalmic and neurosurgical device maker Synergetics (NSDQ:SURG) said today that it agreed to a $166-million takeover bid by Valeant Pharmaceuticals (NYSE:VRX, TSE:VRX), sending SURG shares up 52.6% to $6.70 apiece in pre-market trading today. Valeant’s $6.50-per-share offer represents a 48.1% premium over Synergetics stock’s closing price yesterday of $4.39 per share and a 39.6% premium on its 3-month average. […]
HeartWare inks $929m deal for Valtech Cardio’s mitral and tricuspid valves
HeartWare International (NSDQ:HTWR) said yesterday that it agreed to put roughly $929 million on the table for Israeli replacement heart valve maker Valtech Cardio. Terms of the deal call for an up-front payment of 4.4 million shares of HeartWare stock, which would be worth about $360 million at yesterday’s closing price of $81.81. The buyout also […]
Medtronic’s billion-dollar buying spree
Medtronic (NYSE:MDT) CEO Omar Ishrak has literally put his money where his mouth is since saying in early June that the world’s largest pure-play medtech maker would look for small-scale investments – $1.05 billion of that money, in fact. That’s Fridley, Minn.-based Medtronic’s announced spend on M&A since June 5, when Ishrak said the company would […]
Stryker closes Muka Metal buyout
Stryker (NYSE:SYK) said today it closed its purchase of Turkish hospital bed and stretcher maker Muka Metal for an undisclosed amount. Kayseri, Turkey-based Muka began producing hospital beds in 2004, and has expanded into patient handling equipment, stretchers and hospital furniture. The company, founded in 1966, developed the 1st wireless nurse calling system, and exports to 60 […]
Medtronic pays $150m for Medina Medical
Medtronic (NYSE:MDT) yesterday said it agreed to pay $150 million to acquire Medina Medical and its embolization coil for treating brain aneurysms. The Medina device is a self-expanding mesh designed to fill the inside of an aneurysm. Menlo Park, Calif.-based Medina won CE Mark approval in the European Union for the device in September 2014, a month after naming […]