Medtronic (NYSE:MDT) CEO Geoff Martha has no intention of slowing the medtech giant down amid the COVID-19 pandemic. Speaking during the Fridley, Minn.-based company’s “Investor Day” virtual presentation, Martha made one thing clear: “We are going on the offensive,” Martha said at the start and echoed throughout the program. About six months into his tenure as […]
The Blackstone Group LP
Medtronic (NYSE:MDT) announced that it will increase research and development for its diabetes group through an agreement to receive $337 million from Blackstone. The significant increase in R&D funding for the diabetes group is aimed at advancing new, innovative products designed to reduce the burden of diabetes management. The companies announced the agreement at the virtual […]
Biomet is planning to put itself back on the public market after a 7-year run under private equity ownership, the orthopedics giant said today.
A group of private PE players including the Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts and TPG acquired Biomet for $11.4 billion in 2007, placing medtech veteran Jeffrey Binder at the helm.
Angel investors started to come out of their shells during the first half of the year with angel investments up more than 3% compared with H1 2011, according to research out of the University of New Hampshire, and medical device companies took the lion’s share of the backing.
The medical device and equipment sector grabbed 24% of total angel investment during the first six months of the year, according to a study from UNH’s Center for Venture Research.
Orthofix International (NSDQ:OFIX) said it’s making strides toward resolving a trio of outstanding legal issues with the U.S. government.
The Lewisville, Texas-based orthopedic device maker is finalizing agreements to close criminal and civil matters related to its bone growth stimulation business and is reaching agreements in principle to settle violations of the Foreign Corrupt Practices Act and investigations into its Blackstone subsidiary for potential violations of the False Claims Act.
Leveraged buyouts, like the $6.3 billion deal to take Kinetic Concepts Inc (NYSE:KCI) private, are as expensive as they’ve been all year, due to ongoing uncertainty about the global economy.
Average monthly interest rates on institutional leveraged loans, the debt used to finance LBOs, rose to 491 basis points more than benchmarks in July, according to Bloomberg News – up from a February low of 378 basis points.
A former Smith & Nephew (NYSE:SNN) executive wants a Tennessee federal court to force the company to cough up documents detailing its sales to the U.S. government as part of his whistleblower lawsuit accusing the firm of breaking the Trade Agreements Act.