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Mergers & Acquisitions.
MedTech 100 roundup: Stocks peak to end May
Medtech stocks closed May at their highest point since before the COVID-19 pandemic rocked the markets. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 87.17 points at the end of last week (May 29). That total represents a 2.3% gain from the 85.22-point total at the […]
Haemonetics sells off blood donor software
Haemonetics (NYSE:HAE) announced today that it plans to sell certain blood donor management software assets to the GPI Group. GPI, a provider of IT solutions for healthcare and social services, is purchasing the assets from within Haemonetics’ blood center business unit, according to a news release. Under the agreement, Boston-based Haemonetics and its subsidiary Global Med […]
Conventus Orthopedics acquires Flower Orthopedics
Conventus Orthopaedics announced today that it acquired single-use, sterile-packaged implant and instrument kit maker Flower Orthopedics. Flower Orthopedics develops the sterile FlowerCube system for eliminating expensive set processing, enabling surgical facilities to complete back-to-back cases, enhance efficiency and maximize resources, according to a news release. In addition to its fixation portfolio, Flower also drew interest […]
Stryker announces $2.3b offering to finance Wright Medical purchase
Stryker (NYSE:SYK) announced that it entered into an underwriting agreement in connection with a $2.3 billion offering set to finance its purchase of Wright Medical (NSDQ:WMGI). The underwriting agreement is with BofA Securities, Citigroup Global Markets and Wells Fargo Securities. The offering, which Stryker expects to be completed on June 4, will result in the company issuing […]
Medtronic is buckling up and ready to buy; Medtech’s need for speed
In this week’s episode of DeviceTalks Weekly, we dip into Medtronic’s quarterly call to hear why company executives feel the medtech sector is already rebounding. The global giant also intends to start using its vast cash reserves to bolster its bottomline through M&A. We’ll also talk with Jeff Champagne of MPR about medtech’s need for […]
Medtronic execs see quick recovery, increased M&A
If Medtronic’s troubling Q4 report offers a snapshot of a company hit hard by COVID-19, the next image in the sequence may show a faster-than-expected recovery and increased merger-and-acquisition of smaller companies. In the quarterly call on Thursday morning, Medtronic CEO Geoff Martha and CFO Karen Parkhill expressed optimism that the company’s businesses already are […]
U.K. probing Stryker-Wright Medical merger
The U.K. Competition and Markets Authority has begun an investigation into the proposed $4.7 billion merger of Stryker (NYSE:SYK) and Wright Medical (NSDQ:WMGI). Announced in November 2019, the merger would have Stryker pay $30.75 per share to acquire all of the issues and outstanding ordinary shares of Wright Medical. With outstanding convertible notes, total enterprise value is […]
