Report: Stryker could move for Smith & Nephew 'soon'
December 23, 2014 by Brad Perriello
A Stryker bid for Smith & Nephew could be in the works at a significant premium to the British orthopedic & wound care firm’s share price.
Citing “people with knowledge of the matter,” Bloomberg reported that Stryker’s offer could come as soon as the coming weeks. One source said the premium could be as high as 30%, according to the news service. Read more
Zoll Medical to acquire Advanced Circulatory Systems
December 22, 2014 by Brad Perriello
Zoll Medical is averaging an acquisition per month over the fall, announcing its 3rd deal in as many months, this time for Advanced Circulatory Systems and its non-invasive circulation assist devices.
Chelmsford, Mass.-based Zoll did not reveal financial details of the acquisition of ACS, which is based in Roseville, Minn. Read more
Judge won't stop Medtronic plan to cover $63m tax tab for execs, directors
December 29, 2014 by Brad Perriello
A federal judge in Minnesota last week declined to bar a Medtronic plan to cover more than $63 million in taxes its $43 billion buyout of Covidien would incur for its top executives and directors.
U.S. tax laws impose a 15% excise tax on stock owned by executives and directors for the 6 months before and after a merger transaction. Although it’s said all along that it will offer an excise tax “gross-up” to cover executives from the tax, Medtronic revealed in an August 26 regulatory filing the details of the coverage. Read more
Covidien inks deal to settle lawsuit over Medtronic merger
December 29, 2014 by Brad Perriello
Covidien said last week that it inked a deal that would settle a consolidated derivatives lawsuit filed by shareholders seeking to block the medical device company’s pending merger with Medtronic.
The case is the consolidation of a trio of derivatives lawsuits dating back to July, the month after news broke of the blockbuster $43 billion mega-deal. Mansfield, Mass.-based Covidien said Dec. 23 that it inked a memorandum of understanding to settle the case with the plaintiffs. Read more
Medtech M&A: Uroplasty, Vision-Sciences to merge
December 22, 2014 by Mark Hollmer
Two smaller-scale medtech companies are following the adage that "size matters," merging to form a larger entity focused on addressing urology-related conditions and more.
Minnesota-based Uroplasty and New York’s Vision-Sciences said they’ll come together during the 1st half of 2015. Their new company will be called Cogentix Medical and be based in Minnetonka, Minn., where Uroplasty’s current headquarters is. Uroplasty president & CEO Rob Kill will serve in the same role at the combined company; the merged board will have 5 Uroplasty members and 3 from Vision-Sciences, according to a press release. Read more