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 puts itself back on public market | Medtech Wall Street news for the week of Mar. 10, 2014
Biomet announces IPO plans
March 7, 2014 by Brad Perriello
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.
Biomet announces IPO plans
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.
Report: Danaher, Blackstone join forces in hunt for J&J diagnostics unit
Report: Private equity giants vie for Johnson & Johnson’s Ortho Clinical Diagnostics biz
Report: Blackstone leads race for Allscripts | Wall Street Beat
Blackstone Group is said to be leading the bidding war for electronic medical records company Allscripts (NSDQ:MDRX) but the 2 sides are far from agreeing on a price, according to Reuters.
Citing 3 "people familiar with the matter," the news agency said a deal is "highly uncertain."
Angels in America: Early-stage investment rebounds | Wall Street Beat
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 makes headway in federal beefs
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 buyout costs hit yearlong high
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.
Whistleblower to SNN: Cough up sales docs | MassDevice.com Legal Roundup
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.
Private equity and med-tech M&A: Where there’s smoke there’s barbarians?
Last week, the world’s largest private-equity company quietly put its money on the table in what could turn out to be a very big gambling chip in the world of medical device mergers & acquisitions.
In a quarterly earnings announcement, The Blackstone Group (NYSE:BX) confirmed a startlingly large $16.1 billion leveraged-buyout fund, which is about 10 percent of the $159 billion total assets the firm has under management.
