Say hello to MassDevice +3, a bite-sized view of the top three medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
3. Acelity says IPO could fetch up to $1B
Wound care and regenerative medicine company Acelity yesterday said it expects to raise as much as $1 billion in its forthcoming initial public offering as it looks for a way to pay down its debt.
Acelity, formerly Kinetic Concepts Inc., was acquired for $6.1 billion by Apax Partners and a pair of Canadian pension funds in a leveraged buyout in November 2011. The company, which makes wound care products, later folded KCI sister company LifeCell and acquisition Systagenix into the Acelity brand. Read more
2. St. Jude Medical’s $3B Thoratec buyout set to close today
Thoratec said its shareholders approved St. Jude Medical‘s $3.4 billion buyout offer yesterday, setting the stage for the deal to close today.
In August, U.S. anti-trust regulators cleared the deal, in which Pleasanton, Calif.-based Thoratec’s stockowners are due to receive $63.50 in cash for each THOR share. Read more
1. Boston Scientific ups stake in stealthy MValve and its TMVI docking tech
Boston Scientific said today that it boosted its stake in stealthy Israeli medical device company MValve, which is developing “docking” technology for transcatheter mitral valve implants.
Marlborough, Mass.-based Boston Scientific put $15 million into MValve last year in a deal that included a $200 million buyout option. MValve, which is based in San Diego and Herzeliya, Israel, this week reported the 1st-in-human implantation using its device and Boston Scientific’s Lotus transcatheter valve implant. Its docking device is designed to mimic valve-in-valve or valve-in-ring procedures by creating a secure platform within the mitral annulus for implantation of a TMVI or TAVI device like the Lotus, according to MValve founder & medical director Dr. Maurice Buchbinder. The MValve device and the Lotus valve are designed to be re-positioned and recaptured. Read more