Baxter (NYSE:BAX) said today that it will buy the Seprafilm adhesion barrier and related assets from Sanofi (NYSE:SNY) in what is expected to be a $350 million deal. The purchase is expected to close no later than the first quarter of 2020. A Bloomberg report in October hinted that a deal might be in the work. “While […]
8 execs exit Acelity after 3M takeover
Eight top executives have departed wound care giant Acelity following its recent $6.7 billion purchase by 3M (NYSE:MMM), according to a report in the San Antonio Express-News. The executives include Acelity CEO Andrew Eckert, president & COO Gaurav Agarwal, CFO Tracy Jokinen, general counsel John Bibb, international president Ramesh Subrahmanian and Rohit Kashyap, president of global […]
5 ways medtech research aims to help veterans
As the United States prepares to honor its military veterans on Monday, medtech researchers are working to help survivors wounded in battle, both in body and mind. Whether the research comes out of government, industry or academia, there’s also a desire to help veterans facing other health challenges. Get the full story on our sister […]
Smith & Nephew beats on Q3 sales, raises outlook
Smith & Nephew (NYSE:SNN) today reported third-quarter revenues that beat the consensus forecast and raised its outlook on the rest of the year. The London-based orthopedics and wound care giant posted sales growth of 6.6% to $1.25 billion for the three months ended Sept. 28, compared with Q3 2018. Analysts were looking for sales of […]
Sanara MedTech closes $10m equity offering
Sanara MedTech said last week that it closed a private equity offering worth $10 million in common stock. The offering included more than 1.2 million newly issued shares at $8.30 each, according to Forth Worth, Texas-based Sanara, formerly known as Wound Management Technologies. They were sold to three unnamed investors, according to a regulatory filing. […]
Smith & Nephew taps ex-Roche chief Diggelman for CEO | Personnel Moves, October 21, 2019
Smith & Nephew (NYSE:SNN) today named former Roche (PINK:RHHBY) chief Roland Diggelmann to replace Namal Nawana next month. Nawana, named to succeed Olivier Bohuon last year, is stepping down effective Nov. 1 “to pursue other opportunities outside of the U.K.,” the London-based healthcare giant said. Nawana is slated to stay on until Dec. 31 to […]
Report: Sanofi is shopping SepraFilm unit to Baxter
Sanofi (NYSE:SNY) is said to be in advanced talks with BAX to sell its Seprafilm surgical products business for up to $400 million. SepraFilm is designed to prevent adhesion after abdominal surgeries. The French drugmaker, which acquired SepraFilm in 2011 when it paid $20.1 billion for Genzyme, wants to close the deal “with the next few […]
Admedus deals biologic patch business to LeMaitre Vascular for $24m
Admedus (ASX:AHZ) dealt its biologic patch business to LeMaitre Vascular (NSDQ:LMAT) in a deal worth up to $24.6 million to focus on the transcatheter aortic valve replacement market. The A$36.2 million buyout of the CardioCel and VascuCel patches called for LeMaitre to put up $14.2 million up front, with another $1.4 million due in a pair […]
3M closes $6.7B Acelity buyout
3M (NYSE:MMM) last week closed the $6.7 billion buyout of wound care giant Acelity from the private equity consortium that took the company private back in 2011. San Antonio, Texas-based Acelity, which had registered for an initial public offering a month before 3M floated its offer, was formed after Apax Partners and a pair of Canadian pension […]
Supremes deny Zimmer Biomet in $250m loss to Stryker
The U.S. Supreme Court today declined to take up the Zimmer Biomet (NYSE:ZBH) appeal of a $248 million loss to Stryker (NYSE:SYK) in a patent infringement case. The case dates back to December 2010, when Stryker sued orthopedics rival Zimmer, alleging infringement of 3 patents covering wound debridement technology by Zimmer’s Pulsavac Plus device. Last December the U.S. Court […]
Imbed Biosciences wins $1.5m NIH grant
Imbed Biosciences said last week that it received a $1.5 million grant from the National Institutes of Health to develop a bioresorbable, antibacterial wound dressing. Fitchburg, Wis.-based Imbed said the two-year Small Business Innovation Research grant, from the NIH’s National Institute for Arthritis & Musculoskeletal & Skin Diseases, is for R&D on a bioresorbable wound […]
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