Say hello to MassDevice +5, a bite-sized view of the top five medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 5 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.
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5. Teleflex closes $400m debt offering
Teleflex said Monday it closed a $400 million debt offering round through the offering of 4.875% senior notes due in 2026.
The Wayne, Penn.-based company said it expects to net approximately $393 million from the offering after deducting underwriters discounts and commissions, and intends to use the proceeds to repay borrowings from its revolving credit facility, according to an SEC filing. Read more
4. Edwards touts multi-trial heart valve data
Edwards Lifesciences yesterday released results from 3 trials of its surgical heart valves designed for treating aortic valve disease, touting positive clinical results from studies of over 2,000 patients.
Data from the trials was presented during late-breaking sessions at the American Association for Thoracic Surgery’s 96th annual meeting this week, the company said. Read more
3. Zimmer Biomet closes Cayenne Medical buy
Zimmer Biomet said today that it closed its buyout of Cayenne Medical and its soft tissue reconstruction devices for an unspecified amount.
Scottsdale, Ariz.-based Cayenne makes devices for knee and shoulder repair, including the AperFix II, CrossFix II and iFix knee ligament reconstruction and meniscal repair devices and the Quattro device for rotator cuff and labral repairs. Read more
2. Mazor Robotics inks $42m deal with Medtronic
Mazor Robotics said today that it inked a 2-phase deal with Medtronic for its robot-assisted spine surgery technology that includes a co-promotion agreement and an equity investment that could see Medtronic wind up with a 15% stake in the Israeli company for as much as $42 million.
Caesarea, Israel-based Mazor said the 1st phase of the deal calls for Medtronic to acquire 15 Mazor systems this year. It also makes Medtronic Mazor’s sole partner for developing and commercializing robot-assisted spine surgery devices; if both meet their milestones by the endof 2017, the deal is slated to progress to the 2nd phase. Mazor said its already working with Fridley, Minn.-based Medtronic on the development of “synergistic” spine products “and will begin working closely together to meet designated sales targets through a defined methodology for cooperation.” Read more
1. Smith & Nephew deals Truclear gynecology biz to Medtronic for $350m
Smith & Nephew said today that it’s dealing its gynecology business to Medtronic, including the Truclear hysteroscopic resection and removal system, for $350 million.
The London-based healthcare giant said the Truclear device put up sales of $56 million last year, or just more than 1% of total revenues. The proceeds will go toward a $300 million stock buyback, Smith & Nephew said. Read more
