Laborie Medical Technologies said today that it closed the $214 million acquisition of Cogentix Medical (NSDQ:CGNT). With about 85% of the urology and gynecology device maker’s shares tendered over the weekend, meeting the minimum tender requirement, the stage was set for the deal to close today. The $3.85-per-share cash tender pulled in some 51.5 million shares, for about $198.2 million, […]
Cogentix shareholders sue to block Laborie Medical acquisition
Cogentix Medical (NSDQ:CGNT) shareholders late last week filed a class action suit against the company seeking to block its $214 million acquisition by Laborie Medical Technologies under allegations that the company ignored a better offer and engaged in unfair protective provisions. In the newly filed suit, plaintiffs allege that the board breached its fiduciary duties by […]
Laborie Medical to pay $214m for Cogentix
Laborie Medical Technologies said today that it agreed to pay $214 million for Cogentix Medical (NSDQ:CGNT) and its line of urology and gynecology devices. Formed by the 2015 merger of Vision-Sciences and Uroplasty, Minnetonka, Minn.-based Cogentix makes the Urgent PC neuromodulation device for treating overactive bladder syndrome, the PrsimeSight cystoscopy and EndoSheath devices and Macroplastique, an injectable soft-tissue bulking agent for […]
Indiana Sen. Donnelly stumps for medtech tax repeal on Senate floor
Sen. Joe Donnelly (D-Ind.) took to the Senate floor this week to urge his fellow lawmakers to repeal the medical device tax, a 2.3% levy on medtech sales that went back into place on Jan. 1 after a two-year-long suspension. The tax, which is among other parts of the Affordable Care Act awaiting their fate […]
Cogentix touts MAC coverage extension for OAB neuromod treatment
Cogentix Medical (NASDAQ: CGNT) said today that Medicare Administrative Contractor Palmetto GBA extended granted coverage for percutaneous tibial nerve stimulation procedures to treat overactive bladder with the company’s PC Neuromod System. With the extension, patients with Medicare coverage in North Carolina, South Carolina, parts of Virginia and West Virginia will be eligible to receive PTNS therapy for up […]
Cogentix backs Vensica Medical and its needle-free drug delivery system
Cogentix Medical (NASDAQ: CGNT) said today that it invested $2 million in privately-held Vensica Medical and its ultrasound-based, needle-free drug delivery device, VensiCare. Israel-based Vensica Medical is developing its VensiCare device as a way to deliver botulinum toxin to treat overactive bladder. The company also has IP for the delivery of oncology agents to the bladder, according to Cogentix. […]
Cogentix Medical buys UK-based Genesis Medical
Cogentix Medical (NSDQ:CGNT) said today it acquired London-based Genesis Medical for an undisclosed amount. Genesis Medical produces, sells and markets urology products in the U.K. and operated as the exclusive regional distributor for Cogentix’s PrimeSight endoscopy systems. Cogentix said it purchased all tangible assets of Genesis, and will pay up to an additional $671,560 (GBP £515,000) […]
Cogentix inks deal with Promepla to launch endo-urology devices in US
Cogentix Medical (NSDQ:CGNT) said today it inked a deal with Monaco-based medical device maker Promepla to launch an endo-urology product line within the US. Minneapolis, Minn.-based Cogentix said the slated-to-launch product line includes a full suite of endourological devices including ureteral access sheaths, gravity irrigation lines and nitinol guide wires. “The launch of our endo-urology product […]
Firms in Minnesota’s Medical Alley raised $117m in Q3
Firms in Minnesota’s Medical Alley raised $117 million during the 3rd quarter, bringing their total year-to-date funding to $335.8 million, the trade group reported today. Medical Alley, which rebranded from LifeScience Alley in January, reported that 77 companies from the region completed funding rounds in 2016, matching 2015’s numbers between the 1st and 3rd quarters. “Medical Alley continues to […]
Cogentix lands $25m from Accelmed
Updated to include comment from CEO Darin Hammers. Cogentix Medical (NSDQ:CGNT) said today it inked a $25 million securities purchase agreement with Accelmed Growth Partners. Through the deal, Accelmed will buy $25 million in Cogentix Medical common stock at $1.55 per share. Funds are slated to support working capital and to implement a business development strategy to acquire […]
Burberry poaches Smith & Nephew CFO Brown | Personnel Moves for July 12, 2016
Burberry poaches Smith & Nephew CFO Brown Smith & Nephew (NYSE:SNN) said yesterday that CFO Julie Brown is leaving the company in January 2017 after 4 years on the job at the British healthcare products giant. Brown, who was named finance chief in November 2012 and assumed the role in February 2013, is moving to […]
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