July 24, 2014 by Brad Perriello
A Medtronic shareholder is suing in a Minnesota state court to block the pending, $43 billion merger with Covidien, claiming that the deal leaves shareholders on the hook for significant tax liabilities.
Plaintiff Lewis Merenstein sued in Hennepin County District Court July 2, arguing that the proposed merger’s conversion of Medtronic stock into the new stock of the combined company “will result in a substantial loss to Medtronic shareholders,” the St. Cloud Times reported. Read more
July 28, 2014 by Brad Perriello
Medtronic said today that it paid up to $105 million to acquire Visualase and its MRI-guided laser neurosurgery device.
The deal calls for Medtronic to pay $70 million up front, plus another $35 million in milestone payments, according to a press release. Read more
July 24, 2014 by Arezu Sarvestani
Stockholm-based medical device maker Elekta has got its eyes on the radiation oncology market in Turkey, hoping to build a base there with the acquisition of Mesi Medikal.
Mesi is major Turkish distributor of radiotherapy products, representing companies such as Philips Medical Systems, Bionix and others, according to the company’s website. Elekta hopes the acquisition will significantly deepen its footprint it Turkey, which the company described as “a country with a shortage of radiotherapy devices and software and a growing incidence of cancer.” Read more
July 23, 2014 by Arezu Sarvestani
Arizona device maker Ulthera is ditching its planned initial public offering in favor of a $600 million merger with larger aesthetics company Merz Inc., according to an SEC filing.
The healthcare company, which develops ultrasound-based skin-lifting devices, had hoped to raise as much as $86 million when it debuted on the NASDAQ stock exchange. Ulthera opted to remain private as a wholly owned subsidiary of Merz in the largest acquisition in Merz’s history. Read more