Covidien plans to sell some vascular therapies ahead of Medtronic merger
October 24, 2014 by Brad Perriello
Covidien said today that it will likely divest some of its vascular therapies business to satisfy U.S. anti-trust regulators ahead of its proposed, $43 billion merger with Medtronic.
The divestitures prompted Mansfield, Mass.-based Covidien to log a pre-tax impairment charge of $90 million to $125 million with its 4th-quarter results, according to a regulatory filing. Read more
Covidien, Medtronic shares jump on affirmation of $43B merger
October 22, 2014 by Brad Perriello
Shares of Medtronic and Covidien both closed up yesterday after Medtronic affirmed its intention to consummate a $43 billion union with Covidien.
In a regulatory filing yesterday, Medtronic said it now expects the deal to close late in the 4th quarter or early in 2015. Investors reacted by sending COV shares up 4.5% to an $89.25 close yesterday; MDT shares closed up 1.8% at $64.98 each. Read more
Wright Medical to acquire Tornier for $3.3B in inversion deal
October 27, 2014 by Brad Perriello
Wright Medical today dropped a couple of bombshells on the orthopedics market, announcing an inversion deal to pay $3.3 billion for Dutch rival Tornier in a stock-for-stock deal and revealing an approvable letter from the FDA for its Augment bone graft.
The Tornier acquisition will see Wright reincorporate in Holland, but base its lower extremities and biologics business in its Memphis home base. The upper extremities business will be based at Tornier’s Bloomington, Minn., facility with its engineering in Warsaw, Ind., according to a press release. Read more
Integra LifeSciences closes MicroFrance, Xomed buy from Medtronic
October 27, 2014 by Brad Perriello
Integra LifeSciences said today that it closed its $60 million acquisition of Medtronic’s MicroFrance and Xomed manual ENT and laparoscopy instrument lines.
The deal includes a plant in St. Aubin le Monial, France, where the MicroFrance business makes the Xomed line. Integra said it will end up with roughly 4,000 MicroFrance and Xomed manual ENT and laparoscopic surgical instruments once the deal closes, expected during the 4th quarter. Read more
Globus Medical snaps up allograft maker Transplant Technologies
October 27, 2014 by Alexander Soule
Globus Medical said it acquired Transplant Technologies of Texas, a San Antonio-based provider of bone allografts, biomaterials and soft tissue products, for an unspecified amount.
Transplant Technologies of Texas processes sterile human tissue and distributes allograft implants including machined spine implants, demineralized bone matrix, sponge allografts and traditional bone allografts. TTOT also processes and distributes sports medicine tendons, birth tissue allografts, and dermal allografts. Read more
