More deals ahead for Covidien? | Wall Street Beat

MassDevice.com Wall Street Beat

As Covidien (NYSE:COV) closed its 4th recent acquisition, analysts speculated that there may be more deals on the near future.

The Mansfield, Mass.-based company may be looking to pick up some assets in hypertension treatment, or may keep its sights on additional acquisitions in Israel.

A report by MedCity News speculated that Covidien’s support for Maya Medical’s renal denervation systems may soon lead to a buyout.

An unnamed investor told Israel’s Globes business news that Covidien will likely be on the lookout for "activities in their existing areas or areas in which their major competitors are not operating."

That may include pulmonary devices, anesthetics intensive care and monitoring, the investor added.

Covidien picked up 3 Israeli device makers on its recent shopping spree. The company spent spent $300 million for patient monitoring device maker Oridion (SWF:ORIDN), $300 million plus possible earnouts for superDimension and an undisclosed amount for hernia mesh maker PolyTouch Medical Ltd.

Covidien this week also closed the $108 million acquisition of Newport Medical Instruments, a deal initially announced in March.

 Regulatory, economic uncertainty driving slowdown in hospital capital spending, analysis says
A decreasing percentage of survey respondents reported that their hospital capital budgets had increased or remained flat for 2012, with most attributing the cuts to reductions in reimbursement and debt concerns, according to a survey conducted by the group purchasing organization Premier Healthcare Alliance.
 Read more

 Medic Vision, BRIT Systems sign U.S. deal for SafeCT
Texas-based BRIT Systems signed a deal to support U.S. sales of Israel-based Medic Vision Imaging Solutions’ SafeCT image enhancement system.  Read more

 ConvaTec buys AbViser Medical for an undisclosed amount
Skillman, N.J.-based ConvaTec acquired AbViser Medical LLC, maker of the AbViser intra-abdominal pressure monitoring system. The terms of the deal were not make public. Read more

 Corpak acquires Micronix’s assets
Buffalo Grove, Ill.-based Corpak picked up all the intellectual property and other assets of Micronix for an undisclosed amount.  Read more

 Synexus nabs Osteomed, terms not disclosed
Manchester, U.K.-based Synexus purchased Poland’s Osteomed for an undisclosed amount.  Read more

 HCL Technologies and Becton Dickinson join forces for R&D

Indian HCL Technologies announced an engineering and R&D partnership with Becton Dickinson & Co. (NYSE:BDX). The terms of the deal were not made public.  Read more

 EndoEvolution licenses MIS suturing device to Edwards Lifesciences’

Chelmsford, Mass.-based EndoEvolution signed an exclusive worldwide agreement to license its Endo360 deg MIS suturing device to Edwards Lifesciences’ (NYSE:EW) for cardiac-related applications only. Read more

 Teleflex hits 52-week high
Teleflex (NYSE:TFX) notched a new 52-week high yesterday, opening at $64.79 per share before closing at $63.66. Shares jumped after the medical device maker revealed a pair of acquisitions and earnings well above Wall Street’s expectations.

 GPOs: Novation touts new distribution agreements
Group purchasing organization Novation signed distribution agreements with a clutch of companies, including Cardinal Health, Medline Industries and Owens & Minor Distribution, as well as to several regional distributors.  Read more

 Funding Roundup

 Analysts’ ups and downs

  • Becton Dickinson & Co. (NYSE:BDX): Deutsche cuts price target from $82 to $81 on low organic growth
  • Biogen Idec (NSDQ:BIIB): Jeffries raises price target from $137 to $154
  • Edwards Lifesciences (NYSE:EW): Goldman Sachs maintains "buy" rating, raises price target from $90 to $97; Wells Fargo upgrades to "outperform" rating on Sapien sales and reimbursement outlook; Cannacord Genuity maintains "buy" rating, raises price target fro $86 to $93; Leerink Swann maintain "outperform" rating and $90 price target
  • Haemonetics (NYSE:HAE): Morgan Stanley raises to "equal weight" rating, maintains $55 price target
  • Hologic (NSDQ:HOLX): Cantor Fitzgerald maintains "hold" rating, boost price target from $18 to $20
  • Hospira (NYSE:HSP): Leerink Swann hand down "market perform" rating, $36 price target
  • Medidata NSDQ:MDSO): Jeffries maintains "buy" rating, increases price target from $31 to $34
  • NuVasive Inc. (NSDQ:NUVA): Baird ups rating to "outperform," raises price target from $18 to $24; William Blair lifts rating to "outperform"; Cannacord Genuity maintains "buy" rating, increases price target from $21 to $27
  • Solta Medical (NSDQ:SLTM): Leerink Swann hands down "outperform" rating, raises price target from $4.12 to $4.95
  • Spectranetics (NSDQ:SPNC): Barrington Research maintains an "outperform" rating and $13 price target
  • Teleflex (NYSE:TFX): Jeffries raises price target to $64, maintains "hold" rating; Leerink Swann maintains "market perform" rating
  • Thoratec (NSDQ:THOR): Oppenheimer & Co. maintains "outperform rating," raises price target from $40 to $42; Leerink Swann maintains "outperform" rating and $45 price target
  • Wright Medical (NSDQ:WMGI): Jeffries raises price target to to $19, upgrades to "hold" rating

RSS From Medical Design & Outsourcing

  • GlobTek presents its latest level VI AC/DC adapter and connverter
    T-43086-WWVV-X.X-Q Model is an addition to GlobTek’s Level VI compliant GT-43086 family and represents GlobTek’s 6 Watt wall plug-in series of AC/DC adapters (power supplies and chargers) with International Interchangeable blades. GlobTek’s changeable input blade system with individual field replaceable input plugs, including: North America and Japan NEMA 1-15P, Australian, UK BS 1363, European CEE […]
  • Sanmina’s familiarity with FDA gets skin treatment product to market fast
    The medical market for cosmetic devices is booming. However, quickly launching new products to meet demand is becoming more challenging because device manufactures face increased regulatory scrutiny. To help meet regulatory requirements, aesthetic and other medical-device OEMs are partnering with electronics manufacturing services (EMS) companies that also offer expertise with the FDA filings necessary to […]
  • Fluid connectors and quick disconnects for IVD equipment from CPC
    Colder Products Company (CPC) offers thousands of tubing connectors, quick disconnects and fittings for smart fluid handling in IVD and analytical equipment. Non-spill connectors speed testing throughput by eliminating drips, preventing air inclusion and increasing operator safety. Panel mount connectors can be added to existing equipment or bottle caps to provide secure, leak-free connections. Puncture […]
  • 310 Watt desktop medical power supply meets efficiency level VI requirements
    Power Partners releases a new 310 Watt medical grade desktop power supply from their PEAMD Series of AC and DC adapters. The 310 Watt unit is packed for ideal performance inside a compact case measuring 7.8 x 4 x 2 in. with a weight of only 3 lbs. The PEAMD310 Series is approved to the latest […]
  • Saelig introduces Multiple Instrument System MIS4 universal test system
    Saelig Company has introduced the ABI Electronics’ Multiple Instrument Station MIS4, an all-in-one testing tool that provides all commonly required test instruments in one compact programmable hardware module, mounted in a compact case or installed in a PC-drive bay. Controlled by ABI’s sophisticated SYSTEM 8 Ultimate PC software with a simple yet programmable operator interface, […]
  • AssurX announces document management software update for small to mid-size companies in FDA regulated industries
    AssurX, an enterprise quality management, risk and regulatory compliance solution provider, announces the release of the latest update to their AssurX document management software. The document management solution provides a cost-effective solution for small to medium sized companies faced with streamlined operations and is fully compliant for FDA regulated industries. Ideal solution for small to […]
  • Saelig presents new Amplicon Impact-R 1100F series computer
    Saelig Company announces the Amplicon Impact-R 1100F series, a fanless system powered by the Intel ATOM D2550 processor. Configured with a high performance 2.5 in. MLC Solid State Drive (SSD), the Impact-R 1100F series is a silent controller system. With options for multiple serial communication ports, the Impact-R 1100F can offer up seven DB9 connections […]
  • Gerresheimer to acquire Centor
    Gerresheimer AG, a partner to the global pharmacy and healthcare industry, will further extend its pharmaceutical packaging business with the acquisition of Centor. Gerresheimer has reached an agreement with Nemera Development S.A. to acquire 100% of the share capital of Centor US Holding. “Centor is the highly profitable market leader for plastic vials and closures in […]
  • Methods Machine Tools presents the new Nakamura-Tome NTRX-300
    Methods Machine Tools, a developer of precision machine tools and automation, has introduced the new Nakamura-Tome NTRX-300, a multitasking turning center featuring complete parts machining in one operation, with a built-in load and unload automation system and advanced operator recognition management software. The NTRX-300 features true opposing twin spindles: an 8 in. A2-6 25 HP or […]
  • MSC Apex Diamond Python and Smart Midsurface speeds modeling to validation
    MSC Software announced a new release of MSC Apex, the company’s award-winning next generation Computer Aided Engineering (CAE) platform. The MSC Apex Diamond Python release introduces: · The fourth release of MSC Apex Modeler is a CAE Specific direct modeling and meshing solution that streamlines CAD clean-up, simplification and meshing workflow. New in this release is […]
  • Quality Metrics: FDA’s plan for a key set of measurements to help ensure manufacturers are producing quality medications
    Editor’s Note: This article is written by Ashley Boam and Mary Malarkey from the “FDA Voice” blog. Boam is an FDA’s acting Director of the Office of Policy for Pharmaceutical Quality, the Office of Pharmaceutical Quality and the Center for Drug Evaluation and Research. Malarkey is an FDA’s Director if the Office of Compliance and Biologics Quality […]

Leave a Reply