Only a few weeks into the fourth quarter, and five medical device deals have been announced, putting the year’s total at 95.
Abbott (NYSE: ABT) and St. Jude Medical’s (NYSE: STJ) $1.12 divestiture of certain vascular closure and electrophysiology assets is among these five October deals, and the only one to disclose a price.
On October 18, Terumo Corporation (OTC:TRUMF) acquired St Jude’s Angio-Seal™ and Femoseal™ vascular closure products and Abbott’s Vado® Steerable Sheath. The $1.12 billion, all-cash deal is subject to the successful completion of Abbott’s acquisition of St. Jude Medical, which was announced in April 2016. All parties involved are bound by the terms of an exclusivity agreement.
Things are getting interesting in the Medical Device sector, as manufacturers are turning to new technology. One such deal involved privately held Essentium Material, a 3D printing and materials development company, which acquired privately held TriFusion Devices, a 3D printing products and services company that serves the needs of amputees and prosthetists by providing custom prosthetic devices.