September 12, 2014 by Brad Perriello
In the early days of Zimmer’s courtship of Biomet, a 2nd suitor emerged who eventually ceded the field to concentrate on “internal projects,” according to a regulatory filing.
And Biomet played hard-to-get, pursuing plans for an IPO until very late in the game and holding out for a higher valuation from Zimmer, according to the filing, which offers a detailed look at exactly how the deal went down. Read more
September 11, 2014 by Brad Perriello
With the spinout of Kimberly-Clark’s former K-C Health Care medical device division slated for Nov. 1, MassDevice.com sat down with Chris Lowery, the Kimberly-Clark executive who’s in line to become the COO of the new company, Halyard Health.
Alpharetta, Ga.-based Halyard, which threw off $1.6 billion in sales last year as K-C Health Care, does about 30% of its business in medical devices and the rest in surgical and infection-prevention products. Lowery, who’s vice president of sales and marketing for K-C Health Care until the spinout goes live, told us that Halyard is well-positioned to take advantage of the new healthcare landscape’s focus on cost reduction and outcomes. Read more
September 10, 2014 by Brad Perriello
Japanese anti-trust regulators are the latest to scrutinize the pending merger of Zimmer and Biomet, joining agencies in the U.S. and Europe that are already looking at the deal.
The Japan Fair Trade Commission said Sept. 3 that it’s opening an investigation into the $13.35 billion mega-deal between the orthopedic device giants, 1st announced in April. Read more
September 9, 2014 by Arezu Sarvestani
Embattled aesthetics maker Allergan affirmed this month that it would arrange the shareholder meeting demanded by hostile buyer Valeant Pharmaceuticals and activist investor William Ackman.
Allergan set a Dec. 18. 2014 date for the meeting, saying that the requests gathered by Ackman’s Pershing Square Capital Management proved legitimate and in sufficient quantity to mandate a meeting against the company’s wishes. Read more
September 10, 2014 by Arezu Sarvestani
Remote patient care company Preventice and remote cardiac monitoring devices maker eCardio Diagnostics announced this week that they would join forces and merge sales operations under a new holding company, Preventice Inc.
The new company combines Preventice’s commercially available wireless remote cardiac monitoring systems with eCardio’s national sales force and patient monitoring center. Read more