(Reuters) — AmSurg (NSDQ:AMSG) yesterday withdrew its offer to buy TeamHealth Holdings (NYSE:TMH), after its revised bid was rejected by the medical staffing company. AmSurg said it decided to drop the bid as the TeamHealth board had refused to engage in discussions. TeamHealth said earlier yesterday that the revised proposal undervalued the company. AmSurg had raised the cash component of its […]
Mergers & Acquisitions
HeartWare clears final anti-trust hurdle on Valtech Cardio buy
HeartWare International (NSDQ:HTWR) said today that it’s past the waiting period required to satisfy U.S. anti-trust regulations for its pending acquisition of Israeli replacement heart valve maker Valtech Cardio. That marks the final anti-trust hurdle for the deal, which must still be approved by the companies’ shareholders. HTWR shares, off -44% since the deal’s Sept. 1 announcement, rose […]
Henry Schein to pick up majority stake in Italian distributor Dental Trey
Henry Schein (NSDQ:HSIC) said yesterday that it agreed to acquire a 90% stake in Italian distributor Dental Trey for an undisclosed amount. Melville, N.Y.-based Schein said the deal, expected to close during the 4th quarter, leaves the remaining 10% share in the hands of members of Dental Trey’s founding family. The Fiumana di Predappio, Italy-based […]
Steris closes $2B Synergy Health merger
As expected, Steris (NYSE:STE) said today that it closed a $2 billion merger with the U.K.’s Synergy Health, after the U.S. Federal Trade Commission last week abandoned its bid to block the union. Last month a federal judge today shot down the U.S. Federal Trade Commission’s bid to block the pending, $1.9 billion merger. Today the Mentor, Ohio-based company said […]
Medical staffing company TeamHealth rejects AmSurg’s revised offer
(Reuters) — Medical staffing company TeamHealth Holdings today rejected AmSurg‘s revised buyout offer that, despite an increase in the cash component, was lower than AmSurg’s previous offer. A deal would make the combination a leading provider of medical staff such as radiologists, anesthesiologists and physicians for ambulatory surgery and primary care. Earlier today, AmSurg had raised the cash […]
Possible Pfizer-Allergan tie-up sparks fresh tax inversion angst on Capitol Hill
(Reuters) — Pfizer (NYSE:PFE) faces political risks in Washington if it proceeds with a bid for Allergan (NYSE: AGN), but with little chance of legislation to curb such tax inversion deals, the Obama administration may be able to throw up only limited obstacles. Lawmakers are widely seen as unlikely to tackle major tax code changes before […]
Steris to close $2B Synergy Health buyout next week
Steris (NYSE:STE) said today that it expects to close the $2 billion merger with the U.K.’s Synergy Health next week, reporting fiscal 2nd-quarter numbers that beat expectations on Wall Street despite a -72% bottom-line plunge. Last month a federal judge today shot down the U.S. Federal Trade Commission’s bid to block the pending, $1.9 billion merger. Today Steris said it […]
CasMed deals vital signs monitoring biz to Zoe Medical
CAS Medical Systems (NSDQ:CASM) said yesterday that it sold its 740 Select line of vital sign monitoring products to Zoe Medical for an unspecified amount. Branford, Conn.-based CasMed said it made the move so that it can focus solely on its Fore-Sight cerebral oximetry business. The 740 Select operation put up $3.7 million in sales last year […]
Pfizer, Allergan in talks on merger
(Reuters) — Allergan (NYSE: AGN) and Pfizer (NYSE:PFE) today confirmed that they’re in preliminary, friendly talks on a potential merger, a deal that would create the world’s largest drugmaker. Both Pfizer and Allergan said no agreement has been reached and declined to discuss any terms that might lead to such a tie-up. Allergan shares jumped 8.2% to […]
Greatbatch closes $1.7B Lake Region Medical buy
Greatbatch (NYSE:GB) said it closed the $1.73 billion, cash-and-stock acquisition of OEM medical device maker Lake Region Medical Oct. 27. Frisco, Texas-based Greatbatch laid out $478 million in cash and some 5.1 million shares of stock (which closed Oct. 27 at $49.27 per share, making that portion of the offer worth another $251 million). Greatbatch said it also agreed to […]
Smith & Nephew puts up $275m for Blue Belt, misses with Q3 top line
Smith & Nephew (NYSE:SNN) said today that it agreed to acquire robot-assisted surgery company Blue Belt Technologies for $275 million, but missed top-line expectations for the 3rd quarter. Minneapolis-based Blue Belt makes the portable Navio system, which is designed to work with 8 different knee systems, including Smith & Nephew’s Zuk and Journey Uni devices. The London-based medical products giant, […]