Henry Schein this week announced it completed the previously announced acquisition of majority interest in Shield Healthcare. The company announced the deal in August as officials saw the move as bolstering the company’s commitment to facilitating a continuum-of-care delivery model. Henry Schein expects the transaction to be neutral to 2023 non-GAAP earnings per share and […]
Mergers & Acquisitions
EU orders Illumina to divest Grail after ‘unlawful’ merger
The European Commission today announced it has ordered Illumina (Nasdaq: ILMN) — the DNA sequencing and array-based tech developer — to unwind and divest its Grail acquisition. The decision follows the commission’s decision to prohibit the transaction in September 2022 over concerns the merger would be anticompetitive and “stifle” innovation in the market. Despite the […]
Getinge makes infection prevention play with Healthmark buy
Getinge announced today that it has acquired Healthmark Industries, a Fraser, Michigan–based provider of instrument care and infection control consumables. The Swedish medtech company paid $320 million in cash for 100% of Healthmark. The acquisition aims to bolster Getinge’s footprint in the U.S. sterile reprocessing market while paving the way for Healthmark’s global expansion. The […]
Teleflex completes Palette Life Sciences acquisition
Teleflex (NYSE: TFX) this week completed the previously announced acquisition of Palette Life Sciences. The Wayne, Pennsylvania-based company first announced the acquisition in July. Under the terms of the agreement, Teleflex bought Palette for an upfront cash payment of $600 million at closing, with additional consideration of up to $50 million upon the achievement of […]
Novo Nordisk acquires all shares of drug delivery device maker Biocorp
Novo Nordisk today officially acquired 100% of the shares of Biocorp, the France-based drug delivery device maker’s CEO announced. Biocorp designs, develops and manufactures drug delivery systems and medical devices. Its offerings include Mallya, a Bluetooth-enabled smart add-on device for pen injectors. The Mallya smart sensor attaches directly to insulin pen injectors to make them […]
How Medtronic, Zimmer Biomet and Smith+Nephew approach medtech M&A
In a year with some massive acquisitions in medtech, there are still questions around an overall drop in M&A activity. According to Pete Cataldo, managing director and medtech head of Truist, deal volume in the sector fell 65% in the first half of 2023. However, despite high interest rates and a volatile stock market, there […]
Haemonetics to acquire OpSens for more than $250M, expanding cardiology device portfolio
Haemonetics today announced a definitive agreement to acquire cardiology-focused technology developer OpSens. Boston-based Haemonetics will acquire all outstanding shares of Opsens for CAD $2.90 in an all-cash transaction that will have a fully diluted equity value of approximately $253 million USD. The transaction is expected to close by the end of January 2024. Opsens develops […]
State of the industry — Execs ‘more bullish than ever’ on medtech
Ernst & Young’s 2023 Pulse of the Industry medical technology report may not have been overly positive, but medtech executives certainly are. The EY report highlighted sluggish revenues and post-COVID-19 corrections leading to a growth decline. In fact, it was the lowest growth in medtech since 2015. Roughly half of medtech stock price gains realized […]
Hearing loss tech developer Envoy goes public in SPAC deal
Anzu Special Acquisition Corp. and Envoy Medical announced last week that they completed a previously announced business combination. The combination with Anzu, a special purpose acquisition company (SPAC) results in Envoy becoming a publicly listed company. It continues to operate under the name Envoy Medical. The company’s common stock commenced trading on the Nasdaq market […]
Report: Private equity firm in negotiations for Medtronic business units
Medtronic and private equity firm Carlyle Group reportedly entered negotiations over two units the medtech giant put on the spinoff block. Nearly a year ago, Medtronic announced its intention to pursue a separation of its Patient Monitoring and Respiratory Interventions businesses. Both are part of the company’s Medical Surgical portfolio. Months later, reports surfaced citing […]
Cordis acquires drug-eluting balloon maker MedAlliance for up to $1.135B
MedAlliance announced today that Cordis acquired it for a total consideration that could reach up to $1.135 billion. The companies initially announced the planned deal in October of last year. Cordis, which develops interventional cardiovascular and endovascular technologies, made a $35 million investment last year. Its upfront closing payment totals $200 million, with achievement milestones […]
