Swedish hygiene and forest products maker Svenska Cellulosa Aktiebolaget won out over private equity rivals in the race for BSN Medical, with SCA agreeing to pay nearly $2.82 billion (€2.7 billion) for the wound care and orthopedics firm. Luxembourg-based BSN launched in 2001 as a joint venture between Germany’s Beiersdorf and Smith & Nephew (NYSE:SNN). Swedish PE shop EQT bought BSN […]
Private equity players vie for BSN Medical
BC Partners, Blackstone and CVC are reportedly among the private equity players lining up to bid next week for BSN Medical. Citing “several people close to the matter,” Reuters reported that BSN Medical’s rivals, such as Sweden’s SCA and U.S. and Chinese companies, are also expected to submit offers for an acquisition potentially worth about €3 billion ($3.4 billion). Swedish […]
Ex-Insulet chief DeSisto out before he’s in at MannKind | Personnel Moves
MannKind Corporation said today it withdrew an offer that would have made ex-Insulet (NSDQ:PODD) CEO Duane DeSisto its new CEO only 19 days after officially posting its offer to DeSisto. The offer was withdrawn as objections were raised by DeSisto’s former employer Insulet, who said the new position would violate its non-competition agreement, which will be […]
BSN Medical picks up compression therapy maker Wright Therapy Products
BSN Medical said today that it expanded its footprint in the lymphedema treatment market with the acquisition of Wright Therapy Products for an undisclosed amount. Hamburg, Germany-based BSN has been on a bit of buying spree of late, having acquired FarrowMed and JoViPak in June and September, respectively. The deal for Oakdale, Penn-based Wright Therapy, which makes pneumatic compression systems […]
BSN Medical picks up lymphoedema focused JoViPak
BSN Medical said yesterday it purchased lymphoedema garment manufacturer JoViPak. Seattle-based JoViPak produced lymphoedema management garments for the treatment of both acute and chronic oedema, according to BSN Medical. The companies did not disclose details of the transaction. “Being afflicted with lymphoedema myself, I created JoViPak out of compassion for and an understanding of patients. […]
BSN Medical buys FarrowMed
BSN Medical said yesterday it has acquired elastic short-stretch compression garment maker FarrowMed. The acquisition will expand BSN’s product line which is focused on the management of lymphatic and venous disorders, the Hamburg, Germany-based company said. “This acquisition benefits BSN and our customers alike, as we are now able to offer more comprehensive management solutions […]
Hospitals: Cap-ex market still constrained | Wall Street Beat
Mako Surgical (NSDQ:MAKO) Rio robotic surgery system needs to move from ‘nice to have’ to ‘need to have’ if it’s going to gain traction with hospitals.
That’s because the capital expenditure market is still under pressure from the weak economy, according to Leerink Swann analyst Richard Newitter, citing the un-named hospital CFO.
Report: Covidien to acquire superDimension for $350M | Wall Street Beat
Covidien (NYSE:COV) is set to close a $350 million buyout of Israeli lung diagnosis firm superDimension by the end of the week, according to Israeli business journal Calcalist.
Founded in Tel Aviv by Pinchas Gilboa, Minneapolis-based superDimension, which employs about 120 people worldwide, also has offices in Dusseldorf, Germany.
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