Medtronic Inc. (NYSE:MDT) said today that it will acquire Salient Surgical Technologies for $525 million in a deal that’s been in the works for more than 11 years.
Mergers & Acquisitions
Alere made unsuccessful bid for Scottish competitor
Perhaps it was a case of spring fever when Alere Inc. (NYSE:ALR) went a-courting for Scottish competitor Axis-Shield in early June.
Unfortunately for the Waltham, Mass.-based diagnostics firm, Axis-Shield said “No thanks” to a $369 million unsolicited bid, according to a prepared release.
Alere officials said today that the company offered a non-binding proposal to acquire all issued and to be issued shares of Axis-Shied, which makes in vitro and point-of-care diagnostics for cardiovascular, autoimmune and infectious diseases.
Blackstone Group in the hunt for Kinetic Concepts
One of the potential bidders for Kinetic Concepts Inc. (NYSE:KCI) is the Blackstone Group, a private equity firm with a massive $16 billion buyout fund and a past history of making big bets in med-tech.
CareFusion acquires German robotics company for $150 million | Acquisitions roundup
CareFusion Corp. (NYSE:CFN) announced that it acquired Rowa, a Germany-based robotic medication storage company, for $150 million this week.
Rowa develops automated pharmaceutical storage and retrieval systems, which CareFusion will combine with its own Pyxis line of dispensing and security systems. Rowa’s products include refrigerated storage and a stock input and management system.
Arthocare sells off spine product lines for $5.5 million | Acquisitions roundup
ArthroCare Corp. (NSDQ:ARTC) sold its Parallax and Contour product lines to NeuroTherm for $5.5 million.
The two lines of spine products were previously reported as discontinued operations.
Wilmington, Mass.-based NeuroTherm manufactures products used in pain management, including the first multi-lesion radiofrequency generator on the market, according to a company release.
TPG Capital buys blood-screening system maker for $1.97 billion
TPG Capital affiliate IVD Holdings Inc. entered into a definitive agreement to acquire all outstanding shares of Immucor Inc.’s (NSDQ:BLUD) common stock in a deal that’s valued at $1.97 billion.
Immucor shareholders will get $27.00 in cash for each share of stock, about 30 percent higher than the stock’s trading price prior to the announcement.
Immucor stock promptly jumped more than 30 percent to $27 per share when the information was released today, inching closer to the stock’s 52-week high of $27.18.
Philips snags Sectra’s mammography business for up to $100 million
Cynosure picks up aesthetic laser business for $24.5 million | Acquisitions roundup
Cynosure Inc. (NSDQ:CYNO) announced the $24.5 million acquisition of the assets of Japan-based HOYA ConBio’s aesthetic laser business today.
The Westford, Mass.-based cosmetic laser device maker adds HOYA’s proprietary PhotoAcoustic energy technology to its product portfolio, which also includes the SmoothShapes cellulite reduction system.
The PhotoAcoustic technology uses high-speed energy waves to penetrate skin in nanoseconds, minimizing the amount of heat in each procedure.
Endo closes the deal with American Medical Systems for $2.9 billion in cash
Teleflex: We’re straight-up medical device now
Teleflex Inc. (NYSE:TFX) says it’s a pure-play medical device company now that it’s re-classified its cargo systems business as a discontinued operation, marking the culmination of a years-long transformation.
The Limerick, Pa.-based company also said it paid off $125 million worth of debt ahead of schedule, as it positions itself to grow via acquisition.
Toshiba Medical completes tender offer for Vital Images
Toshiba Medical Systems Corp. successfully completed its tender offer for the $273 million acquisition of Vital Images Inc. (NSDQ:VTAL).
At the end of the second offering period 12,253,984 shares were validly tendered, representing about 86.7 percent of Vital Image’s outstanding stock on a non-fully diluted basis and about 76.8 percent of the stock on a fully diluted basis.