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. Diabetes: Tandem plans $60m offering
Tandem Diabetes Care said last week that it’s planning a $60 million public offering for its line of insulin pumps.
The San Diego, Calif.-based maker of the t:slim touch-screen insulin pump and its successors said it will sell 5.25 million shares at $11.50 apiece, for gross proceeds of just more than $60 million. Tandem said it expects to net $56.3 million after underwriting discounts, commissions and other offering expenses are factored in. Read more
2. Boston Scientific to buy Endo’s urology portfolio for $1.65B
Endo International and Boston Scientific confirmed reports of a $1.65 billion acquisition of Endo’s American Medical Systems urology business.
The companies said the deal, expected to close during the 3rd quarter, does not include AMS’s star-crossed pelvic mesh assets, for which Endo said it’s “evaluating strategic alternatives.” Read more
1. J&J deals Cordis to Cardinal Health for nearly $2B
Healthcare giant Johnson & Johnson confirmed that it plans to deal its Cordis stent-making arm to Cardinal Health for $1.94 billion.
The deal, which is worth some $1.59 billion net of tax benefits, is expected to close near the end of the year and offers annual synergies in excess of $100 million by the end of fiscal 2018, Cardinal Health said. Read more
