Dentsply Sirona Picks Up MIS Implants

Just last September, Dentsply International (NASDAQ: XRAY) acquired Sirona Dental Systems (NASDAQ: SIRO) for $5.5 billion in an all-stock transaction. The acquisition added Sirona’s worldwide dental equipment business, which posted revenues of $1.15 billion (4.8x) on a trailing 12-month basis, and EBITDA of $280 million (19.8x). The transaction created the world’s largest maker of professional dental products and technologies, with net revenue of approximately $3.8 billion and adjusted EBITDA of more than $900 million on pro forma basis. Nine months later, the combined company, now known as Dentsply Sirona Inc., purchased the Israeli dental implant maker MIS Implants... Read More »

Medtronic Swoons over HeartWare

Medtronic plc (NYSE: MDT) kept up its busy acquisition pace, notching its fifth deal in 2016. The target is HeartWare International (NASDAQ: HTWR), developer and maker of miniaturized implantable heart pumps or ventricular assist devices (VAD) for the treatment of advanced heart failure. Its lead product is the HVAD® System, featuring the world’s smallest full-support ventricular assist device. Medtronic will pay $58.00 per share in cash for all outstanding common stock in HeartWare, for a transaction value of $1.1 billion. This acquisition will expand Medtronic’s portfolio of diagnostic tools, therapies and services for patients suffering from heart failure. The transaction is... Read More »

Digital Health Deals Strike New Heights

The digital health sector is on fire in the first half of 2016. Through June 24 we’ve recorded 82 transactions with a business-to-business eHealth company as the target. Sixteen of those were announced in June alone. (We don’t cover consumer-facing health apps or social media platforms.) In the first half of 2015, just 60 deals were announced in this sector. The final tally was 123 eHealth deals for all of 2015, a new record. It’s no stretch of the imagination to think this sector could set another record for 2016. The eHealth market of today includes electronic health records, revenue cycle management and data analytics, various mobile health start-ups from patient... Read More »

Teva Unloads 15 Generics on Impax

To fulfill a condition of its $40.1 billion acquisition of Allergan’s (NYSE: AGN) U.S. generics business, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) agreed to sell a broad portfolio of generic products across solid oral, inhalable, injectable and topical dosage forms to Impax Laboratories Inc. (NASDAQ: IPXL). The $586 million price includes the return to Impax of its rights to its pending Abbreviated New Drug Application (ANDA) for the generic equivalent to Concerta®. Impax is using existing cash and $400 million in new fully committed term loans, provided by RBC Capital Markets. Upon closing, Impax expects to add a portfolio of 15 currently marketed generic products; one... Read More »