May 15, 2014 by Arezu Sarvestani
Boston Scientific’s $415 million acquisition of Bayer AG’s interventional unit is a strong move for the company, but it may bode ill for other peripheral players.
The deal makes a company like Cardiovascular Systems a less attractive acquisition target, for the medtech titan, Wall Street analysts said today. Making matters worse, Boston Scientific may stand to turn its newly acquired JetStream atherectomy device into a major concern. Read more
May 19, 2014 by Brad Perriello
Medical device companies opted to fill in their portfolios with niche acquisitions during the 1st quarter, rather than venturing into new treatment areas or looking to diversify, according to a report by a healthcare investment bank.
Acquisition activity in medtech was “defined by companies’ leveraging core-competencies and expanding distribution channels, not diversification or ventures into a new field of medicine,” according to the Walden Group’s “Q1 2014 Strategic Healthcare M&A Report.” Read more
May 20, 2014 by Brad Perriello
Acquisition activity among medical device companies surged some 200% by value and 111% by volume during the 1st quarter compared with the same period last year, with medtech firms seeking both tuck-ins and more transformative deals aimed at navigating the new healthcare landscape, according to a PricewaterhouseCoopers report.
There were 19 acquisition deals worth roughly $2 billion during the quarter, according to the PwC report, “Pharmaceutical and Life Sciences Deals Insights Quarterly.” Read more
May 16, 2014 by Brad Perriello
CareFusion said it plans to offer $1 billion worth of senior notes, aiming to use the proceeds to repay another, $450 million worth of senior debt that’s coming due this year.
CareFusion said it plans to issue $300 million in notes due 2017 at 1.45%; $400 million in notes due in 2024 at 3.875%; and $300 million in notes due in 2044 at 4.875%. Read more
May 19, 2014 by Arezu Sarvestani
Investors at Oracle Partners revived their complaints about management at Biolase, citing “dismal” 1st quarter earnings that the activist group attributed to “improper Board manipulations” by Biolase chairman & CEO Federico Pignatelli.
Biolase responded with its own public statement, calling Oracle’s claims “absurd” and chalking up the firm’s actions as illegal attempts to control the board and eventually take over the company entirely. Read more