Thermo Fisher Scientific (NYSE:TMO) and Qiagen (NYSE:QGEN) announced today that their boards have unanimously approved Thermo Fisher’s proposal to acquire Qiagen for approximately $11.5 billion. The proposal is that Thermo Fisher will acquire Qiagen for €39 per share in cash, or $43.53. That price represents a premium of approximately 23% of the closing price of Qiagen’s common […]
How to prepare your medical device company for an exit
It’s about sticking to the basics, growing — and much more. One of Greenberg Traurig’s top corporate lawyers shares his insights about leading a medical device company to an acquisition or IPO. As co-chair Greenberg Traurig’s Global Life Sciences and Medical Technology Group and Co-Chair of the firm’s Atlanta Corporate and Securities Group, Wayne Elowe focuses […]
Is Medtronic eyeing LivaNova for a takeover?
Some industry analysts are speculating that Medtronic (NYSE:MDT) might want to acquire LivaNova (NSDQ:LIVN) for its neuromodulation business. A source told financial intelligence company Reorg last week that someone pitched the idea to Medtronic, which would divest LivaNova’s cardiovascular business and “certain MDT cardiac surgery products.” “Five sector advisors said such a deal would make sense as […]
Philips signs 8-year partnership with Paracelsus Clinics
Royal Philips (NYSE:PHG) and Paracelsus Clinics announced today that they entered into an eight-year strategic partnership to continue modernizing Paracelsus Clinics’ medical imaging systems. Switzerland-based Paracelsus Clinics intends to work with Philips on imaging system availability and equipment operation while strengthening efficiency and increasing quality, according to a news release. Paracelsus Clinics head of the procurement […]
Judge tosses most of Neurvana case against Balt execs
A Delaware chancery court judge has tossed nearly all of the claims brought by Neurvana Medical against a pair of senior executives of Balt International for reneging on a $16 million deal for Neurvana’s Titan neurovascular catheter. The story of the lawsuit, filed in January 2019, begins with Balt’s September 2016 acquisition of Blockade Medical, including […]
Judge tosses Abbott’s bid to dismiss Tendyne investors’ $50m claim
Abbott (NYSE:ABT) has lost a bid to dismiss a lawsuit by former investors in Tendyne Holdings, who claim that the healthcare giant dragged its heels on obtaining a regulatory approval that would have triggered a $50 million milestone payment. Abbott in September 2015 paid $225 million up front for the stake it didn’t already own in […]
Integer expands to Israel
Integer Holdings (NYSE:ITGR) today announced it has acquired medtech manufacturer Inomec, formally establishing its presence in Israel. The Plano, Texas-based company said the acquisition will enable it to create an R&D and sales center in the region and adds important catheter design, clinical and pilot manufacturing capabilities to its portfolio. “Acquiring Inomec strengthens our research and development […]
Baxter completes Seprafilm acquisition
Baxter (NYSE:BAX) today said it completed the acquisition of Seprafilm Adhesion Barrier and its assets from Sanofi in a deal worth $350 million. Seprafilm is used as an adjunct to reduce the incidence, extent and severity of adhesions in pelvic and abdominal surgeries, according to the company. It is commercially available in the U.S., Japan, […]
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 […]
Wearable insulin delivery device maker Valeritas files for Chapter 11, selling company
Valeritas (NSDQ:VLRX) announced that the company and its subsidiaries filed voluntary petitions for Chapter 11 bankruptcy, having agreed to sell substantially all of the business to Zealand Pharma (CPH:ZEAL). The agreement is slated to provide a total cash consideration of $23 million along with certain liabilities related to the ongoing business. Once the acquisition is completed, Zealand […]
Intuitive Surgical acquires Orpheus Medical to expand informatics offerings
Intuitive Surgical (NSDQ:ISRG) announced that it completed the acquisition of privately-held Orpheus Medical for an undisclosed amount to grow its integrated informatics platform. New York-based Orpheus Medical offers information technology connectivity and expertise in processing and archiving surgical video to hospitals around the world. The company develops and distributes a clinical video management and analytics platform […]
