Johnson & Johnson (NYSE:JNJ) said today that it accepted a binding offer worth about $2 billion for its Cordis stent-making arm from Cardinal Health (NYSE:CAH). The New Brunswick, N.J.-based healthcare giant said it expects the deal to close “towards the end of 2015.” The $1.94 billion deal, which is worth some $1.59 billion net of tax benefits, offers […]
Mergers & Acquisitions
ConMed ripe for M&A | The week in medtech M&A
Analyst: ConMed ripe for M&A spree May 19, 2015 by Fink Densford ConMed, in the middle of an under-appreciated turnaround, could be poised to augment its growth via selective acquisitions, according to Leerink Partners analyst Richard Newitter. Newitter, who upgraded CNMD shares to “outperform” and boosted the price target to $64 from $60, wrote in […]
Founders buy back Alere Analytics, rebrand as Persivia
The husband-and-wife team that founded the company that eventually became Alere Analytics bought the business back and rebranded it as Persivia. Financial terms were not disclosed. Persivia CEO Mansoor and chief medical officer Dr. Fauzia Khan in 2012 sold DiagnosisOne to Alere, which the next year renamed it as Alere Analytics, before deciding to sell […]
Sorin shareholders OK Cyberonics merger
Sorin Group (BIT:SRN) said shareholders met today and approved its upcoming merger with Cyberonics (NSDQ:CYBX). The deal, which is slated to bring together global leaders in neuromodulation and cardiac surgery with a combined equity value of $2.7 billion, is expected to close by the end of the 3rd quarter. Sorin stockowners will receive 0.0472 units of […]
Baxter looks to growth post-Baxalta spinout
Analyst: ConMed ripe for M&A spree
ConMed (NSDQ:CNMD), in the middle of an under-appreciated turnaround, could be poised to augment its growth via selective acquisitions, according to Leerink Partners analyst Richard Newitter. Newitter, who upgraded CNMD shares to "outperform" and boosted the price target to $64 from $60, wrote in a note to investors yesterday that ConMed’s "turnaround and 2-3 yr […]
Medtronic’s Q4 sales surge 60% on Covidien buy, outlook narrowed
Feds charge ex-JP Morgan exec, father in medtech insider trading scheme
BSX prices $1.85B debt offering | The week in medtech M&A
Sorin, Cyberonics introduce post-merger leaders
Philips shareholders approve lighting biz spinout
Royal Philips (NYSE:PHG) said last week that its shareholders approved the spinout of its legacy lighting business as a stand-alone, publicly traded company.