Enovis (NYSE: ENOV) announced today that it has completed its purchase of Novastep and its foot and ankle minimally invasive surgical (MIS) platform. The financial terms of the deal were undisclosed. Novastep generates about $20 million in annual revenue. “We are excited to welcome Novastep’s talented team to Enovis where we will work together to develop […]
Mergers & Acquisitions
Restor3d to acquire Conformis for $2.27 per share
Restor3d and Conformis (Nasdaq:CFMS) announced that they entered into a definitive merger agreement. Under the agreement, Restor3d, a 3D-printed orthopedic implants company, acquires all outstanding shares of Conformis common stock. The deal includes a purchase price of $2.27 per share. That represents a 96% premium to the closing price on June 22, 2023. Restor3d intends […]
Surgalign files Chapter 11 to sell global hardware, biologics business
Surgalign (Nasdaq:SRGA) announced today that it entered into an agreement to sell assets under a Chapter 11 bankruptcy. The asset purchase agreement enables Surgalign to sell substantially all U.S. hardware and biomaterial assets. It also intends to sell the equity interests in non-debtor entities related to the debtors’ hardware business outside the U.S. — Xtant […]
Avanos Medical to acquire Diros Technology
Avanos Medical this week announced it entered into a definitive agreement to acquire Diros Technology. Toronto-based Diros Technology develops radiofrequency (RF) products that are used to treat chronic pain conditions. Its technology delivers RF energy through precisely placed, minimally invasive probes that heat nervous tissue near the probe’s tip, deactivating the nerve’s ability to transmit […]
BD sells surgical instrumentation assets to Steris for $540M
BD announced today that it signed a definitive agreement to sell its surgical instrumentation platform to Steris (NYSE:STE) for $540 million. The divestiture includes V. Mueller, Snowden-Pencer and Genesis branded products. BD reports its surgical instrumentation platform as part of its Surgery unit within its Interventional segment. In the deal, Steris also gets three manufacturing […]
Merit Medical spends $132.5M on acquisitions to expand its offerings
AngioDynamics (Nasdaq:ANGO) announced that it completed the sale of its dialysis product portfolio to Merit Medical Systems. It was part of a series of product acquisitions worth $132.5 million that Merit (Nasdaq: MMSI) has announced. Latham, New York-based AngioDynamics sold its dialysis portfolio and the BioSentry product for $100 million in cash. The transaction includes […]
Avanos Medical sells respiratory health business to SunMed
Avanos Medical (NYSE:AVNS) announced today that it entered into a definitive agreement to sell its respiratory health business. The Alpharetta, Georgia–based medtech company agreed to sell the unit to SunMed Group Holdings, LLC. SunMed, headquartered in Grand Rapids, Michigan, manufactures and distributes consumable medical devices. Its product portfolio for anesthesia and respiratory care spans the […]
Novo Nordisk looks to acquire a majority stake in BioCorp for $164.5M
Novo Nordisk announced today that it entered into exclusive negotiations for a controlling stake in drug delivery device maker Biocorp. France-based Biocorp specializes in the design, development and manufacturing of delivery systems and medical devices. Its offerings include Mallya, a Bluetooth-enabled smart add-on device for pen injectors. Mallya, a smart sensor, attaches directly to insulin […]
Boston Scientific won’t buy majority stake in M.I. Tech
Boston Scientific (NYSE:BSX) will no longer be acquiring a majority stake in Korea-based medical device manufacturer M.I. Tech. The Marlborough, Massachusetts-based company announced plans to acquire a 64% stake in M.I. Tech in June 2022. It valued the deal at approximately $230 million. At the time, the company expected to close the transaction by the end […]
Medtronic to acquire wearable insulin patch maker EOFlow for $738M
Medtronic (NYSE:MDT) announced today that it entered into a set of agreements to acquire insulin delivery technology developer EOFlow. Seongnam, South Korea-based EOFlow develops the EOPatch — a tubeless, wearable and fully disposable insulin delivery device. EOFlow already launched its EOPatch insulin delivery system in Korea and Europe. The company submitted the insulin delivery device […]
Bioventus completes wound business divestiture
Bioventus (Nasdaq:BVS) announced today that it successfully completed the divestiture of its wound business to LifeNet Health. Earlier this month, the Durham, North Carolina-based company announced an agreement to divest the business to LifeNet. The sale includes Bioventus’ skin substitutes, TheraSkin and TheraGenesis. The transaction includes a total cash consideration of $85 million. That features […]