Bayer Healthcare’s MedRad unit buys Pathway Medical | Mergers & Acquisitions Roundup

September 1, 2011 By MassDevice staff Leave a Comment

Bayer HealthCare’s (ETR:BAYN) MedRad subsidiary paid an undisclosed amount for Pathway Medical Technologies Inc. and its atherectomy technology.

Kirkland, Wash.-based Pathway makes mechanical devices used to the clear blood vessel blockages in the leg known as peripheral arterial disease. The devices cut away the arterial plaque that constricts blood flow in the leg.

Sign up to get our free newsletters delivered right to your inbox.

“The combination of MedRad and Pathway Medical Technologies underscores our strategic commitment to the treatment of patients in the growing interventional field,” Bayer HealthCare chairman Dr. Jorg Reinhardt said in prepared remarks. “Pathway’s products complement MedRad Interventional’s current and future portfolio including our injectors, thrombectomy devices and the Cotavance paclitaxel-coated balloon catheter with Paccocath technology and will enable us to extend value to customers and patients through broader product options to diagnose and treat PAD.”

Philips buys Sectra AB’s mammography business for $82 million

Royal Philips Electronics (NYSE:PHG) paid €57.5 million, or about $82.2 million, for Sectra AB’s (STO:SECT B) MicroDose mammography business.

The all-cash deal excludes the Swedish company’s mammography operations in Australia and New Zealand, “where Sectra will continue to sell and service the unique MicroDose mammography modality under a separate distribution agreement with Philips,” according to a press release.

The business accounted for about 14 percent of Sectra’s sales last year and employs roughly 110 people. The buyout includes a five-year, €12.5 million ($17.9 million) earnout provision, according to the release.
Read more

Zynex announces bid for NeuroDyne Medical

Zynex Inc. (OTC:ZYXI) put up a bid for NeuroDyne Medical Corp., a Cambridge, Mass-based maker of sEMG and autonomic nervous systems monitoring devices for an undisclosed amount.

“This potential acquisition is strategic for us, as we believe it will provide us a rapid entrance into the neurodiagnostic market and will allow us to diversify our current product offerings,” Zynex CEO Thomas Sandgaard said in prepared remarks. “NeuroDyne also has established global sales channels that should help our international sales growth.”
Read more

BAETA Corp. probes possible sale

BAETA Corp. (OTC:BAEA) hired Imagine Growth Strategy Inc. to investigate “an array of potentially beneficial financial transactions, including the targeting of potential mergers and acquisitions,” according to a press release.

“We welcome the opportunity to work with the Imagine Growth Strategy as we seek to introduce exciting and revolutionary new approaches for healthcare management to the marketplace,” CEO Len Pushkantser said in the release. “We are pleased to have a partner that recognizes the value of fact-based data that helps lead to faster diagnoses, improved treatment via remote monitoring, and improved patient health.”
Read more

Cerma spins out steam vein sclerosis business

French biotech firm Cerma is spinning out a new business, aiming to expand market share for its steam vein sclerosis treatment for varicose veins.

Cermavein’s SVS treatment is already on the market in France, Germany, Spain, The Netherlands, Scandinavia, Israel, Romania and the Baltic States and won a nod from Health Canada recently, according to a press release. The spinout also has a first round of fundraising under its belt and is readying a second round to back “the roll-out and expansion of its business,” according to the release.

The SVS treatment uses endovenous thermal ablation to treat varicose veins in a single procedure.

“The SVS technology has been proven to be simple to use in clinical practice, because our technology is flexible and our catheter can be easily introduced into all veins, making the procedure easy for physicians to carry out,” Cermavein CEO Dr. Sophie Humbert said in prepared remarks. “We have a great opportunity to fill a genuine unmet medical need in many markets and thanks to our technology’s features, the size of our potential market is significantly increased. For example, in the United States 75 percent of patients need multiple treatments that now could be done in one single session using SVS.”
Read more

CAE Healthcare picks up METI for $130 million

CAE Healthcare paid $130 million for Medical Education Technologies Inc. in a move to expand its footprint in the medical simulation market.

“The acquisition of METI is an important step in the advancement of our healthcare strategy because it expands CAE Healthcare’s product portfolio and gives it much greater market access,” CAE president & CEO Chief Executive Marc Parent said in prepared remarks. “With this acquisition, our New Core Markets segment, comprised of CAE Healthcare and CAE Mining, achieves greater critical mass. We expect this segment to achieve more than C$120 million of revenue and to be profitable in fiscal 2013. METI is a premier organization with a global customer footprint and distribution channels, an extensive portfolio of products and services, a solid management team and a proven track-record of profitability and customer service. We welcome Michael Bernstein, CEO of METI, who becomes President of CAE Healthcare, we welcome the METI team and look forward to providing our new and existing customers with the most innovative, best-in-class training solutions and continuous service support.”
Read more

These ‘smart’ bandages could heal chronic woulds
UConn biomedical engineers are touting a wirelessly controlled “smart” bandage and corresponding platform for delivering medications to chronic, non-healing wounds. UConn’s School of Dental Medicine, School of Medicine and School of Engineering comprise the biomedical engineering department, which contributed to developing the smart bandage. Ali Tamayol, an associate professor at UConn, led the development of… […]
How to cook up a successful medtech company
New medical device companies need much more than money to get their businesses started. A medtech-specific accelerator can help with seed funding and positioning for a Series A round. Shai Policker, MEDX Xelerator As we dive into 2020, the medtech sector will continue to offer tremendous opportunity for innovators and investors alike, with growth projected… […]
Could this patch help mend a broken heart?
Researchers in Ireland have developed a prototype patch that they say does the same job as crucial aspects of heart tissue. The patch was designed to withstand the mechanical demands of heart tissue and mimic the electrical signaling properties that allow the heart to pump blood throughout the body. The researchers believe it brings medtech… […]
Black History Month: This inventor laid the foundation for today’s pacemakers
Most people in medtech know of Earl Bakken’s contributions to pacemakers and cardiac rhythm devices, but without Otis Boykin, pacemakers wouldn’t have the pacing technology they do today. Boykin, an African-American inventor and engineer, had a special interest in resistors. His mother died from heart failure when he was 1 year old. Thirty-one years later,… […]
Could this 3D bioink printer speed wound healing?
The University of Toronto is touting a new handheld 3D printer that can deposit sheets of skin to cover burn wounds and accelerate the healing process. A study, led by Richard Cheng under the supervision of Axel Guenther, published in Biofabrication revealed that the 3D printer completed successful in-vivo trials on full-thickness wounds, according to a report… […]
8 types of FDA-approved devices that treat the heart
Just starting to learn about all of the medical devices out there for treating cardiovascular diseases? The U.S. FDA has a good, basic roundup on its website of the most common types of cardiovascular devices it regulates. Here’s the list, along with the FDA’s descriptions: 1. Automated external defibrillators (AEDs) “Portable and automatic, these devices… […]
Medtronic seeks to boost surgical robotics play with Digital Surgery acquisition
Medtronic (NYSE:MDT) announced today that it has acquired Digital Surgery (London), a privately-held pioneer in surgical artificial intelligence, data and analytics, and digital education and training. Financial terms of the deal were not disclosed. Medtronic said the purchase will strengthen its robot-assisted surgical platform and its broader portfolio. The medical device giant is making a big play… […]
Solvay expands advanced materials offerings in the medtech space
Solvay, a supplier of advanced materials and specialty chemicals, announced a pair of advances that it hopes will help it expand its healthcare business. Speaking yesterday at Solvay’s booth (#2414) at MD&M West, the company’s healthcare sales development manager Rose Catherin said the new materials will help improve the performance of specialty surgical devices including… […]
11 states ask EPA to crack down on ethylene oxide emissions
Eleven state attorneys general are urging the U.S. Environmental Protection Agency to impose stricter regulations over commercial operations that emit ethylene oxide (EtO), a widely used medical device sterilant gas. The EPA, which considers EtO a carcinogen, has been fielding comments on it in light of public outcry over emissions from medtech sterilization plants during… […]
Is it possible to ‘knit’ replacement blood vessels?
A new way to replace a patient’s damaged blood vessels may be on its way, as researchers in France are figuring out a way to “knit” new vessels with a collagen-based extracellular matrix. Inserm researcher Nicolas L’Heureux and his colleagues at Inserm/Université de Bordeaux’s tissue bioengineering unit published a study in Acta Biomaterialia to outline… […]
Applied Plastics has a new website, online store
Applied Plastics (Norwood, Mass.) — maker of PTFE-coated products for advanced catheter systems — announced today that it is rebranding to improve its customer interface and support continued growth. The rebranding includes a new website, online store and refreshed brand identity. The company this week is showing off the new look and its online PTFE… […]