Wright Medical (NSDQ:WMGI) said today that it closed its $435 million buyout of Cartiva and its synthetic cartilage implant for treating arthritis in the big toe. Alpharetta, Ga.-based Cartiva won pre-market approval from the FDA for the SCI implant in July 2016 (the device won CE Mark approval in the European Union back in 2002 and is also on the market in […]
Delaware court fast-tracks Channel Medsystems suit against Boston Scientific
A Delaware state court yesterday expedited a lawsuit brought by Channel Medsystems against Boston Scientific (NYSE:BSX) over a failed $275 million buyout. The lawsuit alleges that Boston Scientific spiked the deal over a former Channel employee’s alleged scheme to embezzle nearly $3 million from the women’s health company. Emeryville, Calif.-based Channel Medsystems developed Cerene, a cryogen-based endometrial ablation system […]
Amedica closes spine sale to CTL Medical
Amedica (NSDQ:AMDA) said this week it it closed its sale of its spine business to CTL Media, effective October 1. Salt Lake City, Utah-based Amedica said that in the deal, originally announced last month, CTL Medical will pay up to $10 million for all of Amedica’s commercial spine business. The move makes CTL Medical the exclusive […]
It’s another big year for medtech M&A
The breakneck pace of consolidation continued in 2017, significantly reducing the pool of Big 100 companies, as cash-laden companies scooped up smaller firms. The medical device industry may not be keeping pace with initial public offerings in biotech, but medtech is holding its own when comes to mergers and acquisitions, according to industry watchers. Boston […]
Teleflex picks up Essential Medical and its Manta vascular closure device
Teleflex (NYSE:TFX) said yesterday that it acquired Essential Medical and its Manta vascular closure device for an unspecified amount. Manta is designed to close punctures at femoral arterial access sites after catheterization procedures, including transcatheter aortic valve replacements, endovascular treatment of abdominal aortic aneurysms, ventricular assist procedures and balloon aortic valvuloplasties. Exton, Pa.-based Essential won CE Mark approval in the […]
Novanta spends nearly $46 million on rest of Laser Quantum
Novanta (Nasdaq: NOVT) has spent nearly $46 million to buy the remaining 24% of Laser Quantum, which supplies solid-state continuous wave lasers, femtosecond lasers and optical light engines to medical market OEMs. Novanta (Bedford, Mass.) previously increased its equity stake in Lasser Quantum (Machester, U.K.) to 76% in January 2017. Get the full story on our sister […]
Hologic closes $125m Focal Therapeutics buyout
Hologic (NSDQ:HOLX) said it closed the $125 million deal to acquire bioresorbable tissue marker developer Focal Therapeutics yesterday. Aliso Viejo, Calif.-based Focal Therapeutics makes the BioZorb bioresorbable, three-dimensional tissue marker for marking the tumor excision site in lumpectomies. Hologic said it plans to add the BioZorb marker to its breast health product portfolio. The Marlborough, Mass.-based company said […]
Covalon Technologies closes $12m AquaGuard buy
Covalon Technologies said yesterday it closed its $12.4 million (CAD $16.1 million) acquisition of Cenorin’s AquaGuard division. Cenorin’s AquaGuard develops products intended to provide patients with moisture protection for wound, surgical and vascular access sites during showers, Ontario-based Covalon said. Covalon said that during its last fiscal year, the AquaGuard business recorded sales of $8.5 […]
Fresenius cleared to jilt Akorn, court rules
The Delaware Chancery Court ruled this week that it can’t force Fresenius (ETR:FRE) to follow through with its $4.75 billion merger with Akorn (NSDQ:AKRX). The deal was designed to help Fresenius move into new dosage forms and therapeutic areas, including ophthalmic drugs, ear drops, nasal sprays and respiratory drugs. But Fresenius walked away from the deal in April, citing an investigation […]
Johnson & Johnson closes $2B LifeScan sale
Johnson & Johnson (NYSE:JNJ) said today that closed the $2.1 billion sale of its LifeScan blood glucose monitoring subsidiary to private equity player Platinum Equity. The sale is part of the New Brunswick, N.J.-based healthcare conglomerate’s move to get out of the device end of the diabetes business. Early last year J&J announced a strategic review of the LifeScan, Animas […]
Merit Medical to acquire Cianna Medical for up to $200m
Merit Medical (NSDQ:MMSI) said yesterday that it agreed to acquire Cianna Medical and its breast cancer localization and guidance devices for up to $200 million. Aliso Viejo, Calif.-based Cianna makes the Savi Scout wire-free breast tumor localization system, designed to produce audible and visual indicators surgeons can use to tag cancerous tissue during lumpectomy and biopsy procedures. The device won […]
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