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. Medtronic clears all anti-trust hurdles for Covidien acquisition
Medtronic said today that it’s received all the anti-trust clearances it needs to go ahead with its $43 billion merger with Covidien.
The proposed merger is still subject to the approval of both companies’ shareholders and the Irish High Court. Read more
2. Google bets big on healthcare in 2014
Google took a bigger bet on healthcare in 2014, investing more than ⅓ of the its venture dollars in healthcare and life science interests, according to the company and published reports.
Google Ventures said it dropped 36% of its 2014 allocation on healthcare and life sciences startups, making it the top sector the Silicon Valley giant invested in during the year. Although Google doesn’t disclose how much money it allocates towards investment, Bill Maris, head of Google Ventures, told the Wall Street Journal that the company allocated about $425 million for investments, with about $125 million of that earmarked for Europe. Read more
1. Philips agrees to pay $1B for Volcano
Royal Philips and Volcano said that they’ve agreed to a deal that will see Philips pay $18 per share, or roughly $1.2 billion including debt, to acquire Volcano and its cardiovascular imaging technology.
The price represents a 56.7% premium over VOLC’s $11.49 closing price yesterday. The company’s stock has lost about 60% of its value this year. Read more
