When longtime Stryker CEO John Brown was preparing for the company’s 1979 initial public offering, he set a goal of 20% annual growth every single year. “We did that under John’s leadership for a good 20, 25 years,” Andy Pierce, a 29-year Stryker veteran who’s now president of the MedSurg and Neurotechnology groups, said at […]
Novadaq
Stryker closes $700m Novadaq buy
Stryker (NYSE:SYK) said late last Friday it closed its previously announced $700 million acquisition of fluorescence imaging technology developer Novadaq Technologies (TSE:NVDQ). The $11.75-per-share offer for Mississauga, Ontario-based Novadaq was a 95.8% premium on its $6 closing price on June 16, providing a company valuation of roughly $701 million. The deal included some $47 million in net […]
Canadian court OKs Stryker’s $700m Novadaq buy
A court in Canada approved the pending, $700 million acquisition of Novadaq Technologies (TSE:NVDQ) by Stryker (NYSE:SYK). Mississauga, Ontario-based Novadaq, which makes a line of fluorescence imaging technology, said the Ontario Superior Court of Justice issued a final order approving the deal. Canadian and U.S. anti-trust regulators must still grant their approvals before the deal can be consummated, expected during […]
Proxy advisors back Stryker’s $700m Novadaq buy
A pair of investment advisory firms recommended that Novadaq Technologies (TSE:NVDQ) shareholders vote to approve a pending, $700 million buyout bid from Stryker (NYSE:SYK). Mississauga, Ontario-based Novadaq said that proxy advisors Institutional Shareholder Services and Glass, Lewis & Co. backed the $11.75-per-share offer, which must win over at least 66⅔% of the quorum at a shareholders meeting slated for August 4. […]
Medtech M&A: The 10 biggest deals so far in 2017
Over the past several years, the healthcare industry as a whole has experienced an abundance of mergers and acquisitions – major players are buying up their peers in deals ranging from millions to billions. The trend is continuing, and the healthcare playing field continues to be shaped by these mega-transactions. For the medical device industry, […]
Analysts: Stryker might not be the only bidder for Novadaq
Stryker (NYSE:SYK) might not be the only firm in the running for Novadaq Technologies (TSE:NVDQ), according to analysts responding to Stryker’s $701 million bid for the Canadian fluorescence imaging company. Mississauga, Ontario-based Novadaq yesterday agreed to the $11.75-per-share bid, which offers a 95.8% premium on NVDQ’s $6 closing price June 16. That agreement – and the high […]
Stryker to pay $700m for Novadaq
Novadaq Technologies (TSE:NVDQ) said today that it agreed to a $700 million offer from Stryker (NYSE:SYK) for its line of fluorescence imaging technology. Mississauga, Ontario-based Novadaq said the $11.75-per-share offer is a 95.8% premium on its $6 closing price June 16, for a valuation of roughly $701 million; Stryker said that includes some $47 million in […]
Profound Medical moves Plymale to COO, taps ex-Novadaq CEO Menawat| Personnel Moves August 16, 2016
Profound Medical moves Plymale to COO, taps ex-Novadaq CEO Menawat Profound Medical said yesterday it is transitioning its current CEO Steven Plymale to the position of chief operating officer and picking up former Novadaq CEO Arun Menawat to take over the corner office. Menawat has held a position as a board member with Profound […]
Novadaq co-founder Mangat tapped for CEO | Personnel Moves July 8, 2016
Novadaq co-founder Mangat tapped for CEO Novadaq Technologies (TSE:NDQ) said Wednesday that it tapped co-founder and co-inventor of the company’s SPY imaging technology Rick Mangat as its new president and CEO, taking over for Arun Menawat who has resigned to pursue other opportunities. Mangat previously served as senior veep and general manager at Novadaq. “I […]
Mauna Kea looks to Medtronic, Stryker, others for help in commercializing Cellvizio
Mauna Kea (ENT:MKEA) founder & CEO Sacha Loiseau is looking to some of the biggest names in medtech for help in commercializing its Cellvizio device in the U.S. after winning 510(k) clearance from the FDA last month. Paris-based Mauna Kea could ink a deal by the end of the year that would allow it to speed Cellvizio to market […]
JenaValve taps medtech vet Keltjens for interim CEO | Personnel Moves
JenaValve tapped a medtech veteran with a string of successful exits behind him as interim chairman & CEO, replacing another medical device vet, David Drachman, after just 7 months.
