The Medical Device Business Journal — Medical Device News & Articles | MassDevice
Inverness Medical Innovations Inc. (NYSE:IMA) agreed to pay $110 million in cash for Marsh & McLennan Cos. Inc. (NYSE: MMC) subsidiary Kroll Inc.’s substance abuse testing lab.
It’s the latest in a series of strategic moves for the Waltham, Mass.-based diagnostics and lab equipment maker, which has been on a buying (and selling) spree so far this year.
Thermo Fisher Scientific Inc. (NYSE:TMO) agreed to pay an unspecified amount for Finnish polymerase chain reaction equipment maker Finnzyme, in a bid to bolster one of its own recent PCR assay offerings.
The Waltham, Mass.-based lab equipment maker said it inked the deal to acquire Espoo, Finland-based Finnzyme because that company’s proprietary DNA polymerases, Phire and Phusion, complement its own Solaris line of real-time quantitative PCR assays. The deal is expected to close during the first quarter.
Inverness Medical Innovations Inc. (NYSE:IMA) is hitting the acquisitions trail hard in 2010.
The Waltham, Mass.-based diagnostics and lab equipment maker closed its deal to buy a three-quarters stake in Korean rapid diagnostics maker Standard Diagnostics (KDQ:066930) for up to $216.6 million.
Inverness bid about $35.72 per share for 75.79 percent or just more than 6 million shares of Standard Diagnostics, provided that at least roughly 2.4 million shares, or 30 percent of the total issued, were tendered.
Thoratec Corp. (NSDQ:THOR) has struck a deal to acquire catheter-pump technology from a Swedish company for $8.5 million in cash.
The percutaneous heart pump first developed by Getinge AB (OMX:GIND-B) is driven by an external motor using a flexible drive shaft and has shown the ability to move over 4.5 liters per minute during laboratory tests. Executives at Pleasanton, Calif.-based Thoratec said the acquired technology will be used to further development on axial-flow pumps that would be placed into the heart through minimally invasive catheter procedures.
Spire Corp. (NSDQ:SPIR) closed the sale of its hemodialysis catheter business to a division of C.R. Bard (NYSE:BCR) Dec. 16, after postponing the merger several times and agreeing to accept $2.5 million less than the original offer.
In September 2009, Spire agreed to sell the seven-year-old operation to the Salt Lake City-based device maker’s Bard Access Systems division for $15 million, so it could focus on its core solar energy business.
Medtronic Inc. (NYSE:MDT) agreed to acquire Italian cardiovascular device maker Invatec and a pair of its affiliates for up to $500 million.
The Minneapolis-based medical device monolith said it will buy Invatec, which makes stents, angioplasty balloons and accessories, along with Fogazzi, Invatec’s corporate predecessor, and Krauth Cardiovascular, which distributes Invatec products in Germany.
By Mary Vanac
ATHENS, Ohio — Quidel Corp., the San Diego, Calif.-based company that makes point-of-care diagnostic tests, agreed to acquire Diagnostic Hybrids Inc. of Athens, Ohio, for $130 million in cash.
Started in 1983 by a group of Ohio University professors, Diagnostic Hybrids was spun out of the university to commercialize its sophisticated diagnostic tests used mostly by hospital and reference laboratories.
The ink was hardly dried on the paperwork for Thermo Fisher Scientific Inc.‘s deal to acquire German in-vitro diagnostics maker B.R.A.H.M.S. AG for roughly $470 million before the union’s first product hit the market.
Laboratory instruments giant Thermo Fisher Scientific took a step toward shoring up some softness in its analytic technologies business with its $120 million acquisition of Australia-based Biolab.
The deal extends the Waltham-based firm’s reach into the antipodes, as Biolab has a significant presence in Australia and New Zealand.
MEDTRONIC COMPLETES ACQUISITION OF ABLATION FRONTIERS MINNEAPOLIS AND CARLSBAD, CALIF.
– Feb. 6, 2009 – Medtronic, Inc. (NYSE: MDT), today announced it has through an affiliated entity, completed the acquisition of privately held Ablation Frontiers, Inc. Under the terms of the agreement announced Jan. 12, 2009, the transaction includes an initial payment of $225 million plus potential additional payments contingent upon achievement of certain clinical milestones.
