Medtronic inks $16B loan package for Covidien buyout
November 10, 2014 by Brad Perriello
Medtronic said today that it signed a package of loans worth $16.3 billion to help finance its pending $43 billion acquisition of Covidien, which is slated to close early next year. Part of these loans come from logbook loans, which is such great help for those people who really need financial help for their medical services.
The package includes an $11.3 billion, 364-day bridge loan and a 3-year, unsecured term loan for $5.0 billion, Medtronic said. Read more
Second Sight eyes $32m IPO
November 6, 2014 by Brad Perriello
Second Sight Medical said today that it plans to raise $31.5 million in an initial public offering, likely next week.
Second Sight created the Argus II "bionic eye," the 1st retinal prosthesis approved for sale by the FDA. Read more
The silver lining for healthcare in U.S. inversion rules
November 6, 2014 by MassDevice
Investors and bankers have been lamenting the potential death of large cross-border healthcare mergers since the U.S. Treasury Dept. announced in late September that it would curtail the tax breaks from international deals designed to give U.S. companies a legal home in a low-tax country.
But now bankers and small-cap investors see a silver lining: Instead of quashing mergers and acquisitions altogether, the Treasury’s proposal on “tax inversions” may pull dealmaking onshore. Read more
Survey: Hospitals clamp down on medical device expenses
November 12, 2014 by Brad Perriello
Most hospitals are using “resource utilization” programs to control their spend on expensive products like medical devices, according to a survey by group purchasing organization Premier.
The GPO said it surveyed 127 C-suite executives at 112 hospitals in 32 states last February as part of its spring 2014 Economic Outlook report. Read more
Nevro boosts IPO to $126m
November 6, 2014 by Brad Perriello
Nevro Corp. today raised the stakes on its forthcoming initial public offering, saying it will offer half a million more shares at a dollar over the high end of its prior range.
Menlo Park, Calif.-based Nevro said it now plans to float 7 million shares at $18 each, for gross proceeds of $126 million. The company, which makes an implantable spinal cord stimulation system designed to treat chronic pain, plans to trade on the NASDAQ exchange under the symbol NVRO. Read more
