ConvaTec is claiming victory in a U.K. patent battle with Smith & Nephew (FTSE:SN, NYSE:SNN) over silver wound dressings.
ConvaTek claims win in UK patent battle with Smith & Nephew
Sony picks up 11% Olympus stake for $640M | Wall Street Beat
Sony Corp. (TYO:6758) plans to become the largest shareholder in Olympus (TYO:7733) with a $642 million investment that will give it an 11% stake in Olympus.
Funding: Medical device companies raise $70M | Wall Street Beat
Four medical device companies reeled in more than $70 million in recent weeks, to develop technologies including a laser scalpel for minimally invasive surgeries, a peripheral vessel stapler, a thermal ablation system and a biliary stent.
Cambridge, Mass.-based OmniGuide led the charge with a $35 million round from Orbimed Advisors. OmniGuide chairman Yoel Fink told MassDevice.com in 2010 that the device uses the mirror technology he pioneered at the Mass. Institute of Technology in the 1990s.
University of Michigan sues St. Jude Medical for breach of contract
The University of Michigan is suing St. Jude Medical (NYSE:STJ), accusing the medical device maker of failing to pay $4.3 million in royalties on sales of St. Jude’s Epic and Trifecta cardiovascular valves.
More deals ahead for Covidien? | Wall Street Beat
Stryker ex-CEO MacMillan resigns from Texas Instruments board | Personnel Moves
Following his abrupt resignation from the corner office at Stryker Corp. (NYSE:SYK), Stephen MacMillan also stepped down from the Texas Instruments board of directors.
MacMillan had been on the board since 2008. No reason was given for his departure in regulatory filings.
NuVasive closes Impulse Monitoring deal | Acquisitions Roundup
NuVasive (NSDQ:NUVA) closed its $80 million pickup of Impulse Monitoring Inc. last week, according to a filing with the federal Securities & Exchange Commission.
The deal, which closed Oct. 7, saw IMI’s shareholders receive nearly $40.5 million in cash and more than 2.3 million shares of NuVasive common stock with an aggregate value of about $40.5 million (per NUVA’s Oct. 6 closing share price of $17.32).
Kinetic Concepts’ $6.3B buyout meeting to take place tomorrow
After the break-up with rival buyer ConvaTec became official last night, news leaked of a date between Kinetic Concepts Inc. (NYSE:KCI) and suitor Apax Partners LLP to discuss the terms of the $6.3 billion acquisition.
The transaction will include a $2.6 billion term loan and a $200 million revolving line of credit arranged through Bank of America Corp. Morgan Stanley, Credit Suisse Group AG and Royal Bank of Canada, according to Bloomberg Businessweek’s undisclosed source.
KCI: ConvaTec officially calls it quits
It’s official: ConvaTec’s bid for rival Kinetic Concepts Inc. (NYSE:KCI) is over, according to a KCI filing with the federal Securities & Exchange Commission.
ConvaTec slipped in an 11-hour offer for the San Antonio-based wound care giant, hoping to trump a $6.3 billion offer from Apax Partners and two Canadian pension funds. The ConvaTec offer crumbled, however, after a key financial plank for its deal was removed.
ConvaTec bid for KCI collapses
The bidding war for Kinetic Concepts Inc. (NYSE:KCI) is over, after a competing offer by rival ConvaTec collapsed after a key financing prop was removed.
KCI agreed in July to a $6.3 billion offer from private equity buyer Apax Partners. In August ConvaTec, which is backed by Nordic Capital Partners and Avista Capital Partners, made an 11th-hour play.
ConvaTec forays into Latin America with Boston Medical Device acquisition | Acquisitions Roundup
Medical device maker ConvaTec nabbed up Boston Medical Device, increasing its foothold in emerging markets in Latin America.
Skillman, N.J.-based ConvaTec didn’t disclose the terms of the acquisition, the announcement follows rumors that it had propositioned Kinetic Concepts Inc. (NYSE:KCI) late last month, wooing it away from a $6.3 billion offer.
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