Smith+Nephew Acquires CartiHeal for $180 Million
After being acquired by Bioventus in April 2022 for $315 million upfront, CartiHeal is now changing hands. Smith+Nephew announced that it has entered into a definitive agreement to acquire CartiHeal, a privately held medical device company with headquarters in Israel. Under the terms of the agreement, Smith+Nephew will pay an initial cash consideration of $180 million at closing, and up to a further $150 million contingent on financial performance. CartiHeal develops proprietary implants for the treatment of cartilage and osteochondral defects in traumatic and osteoarthritic joints. The company has developed Agili-C, a novel sports medicine technology for cartilage regeneration... Read More »
Halma Strengthens Healthcare Sector with Acquisition of TeDan Companies
Halma, a global group of life-saving technology companies, is bolstering its Healthcare sector with a large acquisition. Halma announced on November 20 that it is acquiring the TeDan group of companies, comprising the separate companies of TeDan Surgical Innovations, Inc., West Coast Surgical, LLC, Axcess Surgical Innovations, LLC and TeDan Surgical Innovations GmbH. Headquartered in Sugar Land, Texas, just southwest of Houston, TeDan is a global leader in innovative surgical access systems. It develops, manufactures and supplies to surgeons for use in a range of acute therapeutic procedures. Its primary market is access systems for spinal surgery, and the United States... Read More »
Irish Company Arrotek Medical to Merge with U.S.-Based NeedleTech
Arrotek Medical, based in Sligo, Ireland, and North Attleboro, Massachusetts-based NeedleTech Products are merging under the Arrotek brand. Both Arrotek and NeedleTech have strong records in the medical device industry, serving a broad range of customers that include original equipment manufacturers, medical device startups and corporations. NeedleTech Products is a leading contract development and manufacturing organization (CDMO) serving several markets, including interventional radiology, interventional oncology, sports medicine, pain management, pharmaceutical and spine. NeedleTech provides components and finished devices to many of the top medical device companies... Read More »
Medela Spins Off Wound Care Business to Combine with Medaxis
Medela is spinning off its wound care business, which will combine with Medaxis to form a new standalone wound care company. Medela’s wound care business provides wound care solutions powered by Medela’s medical vacuum technology, including its negative pressure wound therapy line of products and services. As the healthcare of choice for more than 6 million hospitals and homes across the globe, Medela provides a research-based breast milk feeding and baby products, healthcare solutions for hospitals and clinical education. The company has 20 subsidiaries in Europe, the Americas, Asia and Australia, three production and warehouse facilities in Switzerland, the United States and China... Read More »