Medtronic announces leadership roster for post-Covidien merger
October 10, 2014 by Brad Perriello
Medtronic today revealed the management team slated to lead the world’s largest medical device business after its $43 billion acquisition of Covidien.
Divided into 4 operating groups and 4 geographies, the new Medtronic will be led by current chairman & CEO Omar Ishrak, according to a press release. Read more
Allergan raises outlook; says Valeant offer undervalues company
October 10, 2014 by MassDevice
Allergan lifted its third-quarter profit estimate and said the updated forecast showed that Valeant Pharmaceuticals (NYSE:VRX) takeover offer undervalued the company.
Shares of the Botox maker, which is also a target of Actavis Plc, rose 1.3 pct in premarket trading after the company also gave a full-year profit forecast that was higher than analysts’ average expectations. Read more
EuroZone anti-trust regulators to rule next month on $43B Covidien buy
October 14, 2014 by Brad Perriello
Anti-trust regulators in the European Union set a Nov. 14 deadline for their review of Medtronic’s $43 billion acquisition of Covidien, the European Commission said last week.
The commission will either clear the merger, ask Medtronic to sell off some assets to lessen anti-competitive concerns or launch a more in-depth review. Medtronic and Covidien have said they expect to close the deal late this year or early in 2015. Read more
Steris to buy UK's Synergy Health, tax savings eyed
October 14, 2014 by MassDevice
U.S. medical technology company Steris offered to buy British sterilization services provider Synergy Health Plc for about $1.9 billion in cash and stock in a deal that would shift its domicile to the UK and cut its tax bill.
Steris said it would set up a new UK company to undertake the acquisition, joining a growing list of U.S. companies that are trying to cut their tax bills by shifting their corporate domicile from the United States. Read more
Bioventus bolsters bone healing lineup
October 14, 2014 by Alexander Soule
Bioventus said it acquired the OsteoAMP product line from Advanced Biologics for an undisclosed amount.
OsteoAMP is a tissue-based product used to promote natural bone growth and healing in the spine, according to a press release. Read more
