Devices to Digital: Insights into the Medical Devices and eHealth Markets in Q1:23
The Medical Devices Market: As of May 26, 2023, a total of 46 Medical Device deals have been announced this year, and 28 of those deals were announced during Q1:23. The Q1:23 deal total is comparable to the 27 deals announced during Q1:22, yet an 18% drop from the 56 deals announced between January 1, 2022, and May 26, 2022. M&A activity is also 25% down compared to the 35 Medical Device deals announced during Q1:21, and 6% lower than the 49 deals announced between January 1, 2021, and May 26, 2021. While M&A is down compared to recent Q1’s, considering we just had a few years of unprecedented upheaval, the market is still at a better place than it was before the COVID-19 pandemic.... Read More »
Medtronic Acquires Wearable Insulin Patch Maker EOFlow
Medtronic plc announced on May 25 that it has entered into a set of definitive agreements to acquire EOFlow Co. Ltd. According to data captured in the LevinPro HC database, this represents the 46th Medical Devices transaction of the year. To the extent that all the public shares participate in the tender offer, the total consideration for the acquisition of the shares in EOFlow would be KRW 971 billion, or $738 million USD. EOFlow is a South Korean medical device company founded in 2011 and is headquartered in Seongnam, South Korea, with additional offices in San Jose, California. EOFlow’s flagship product is the EOPatch® device, a wearable insulin patch pump that provides continuous... Read More »
Stryker Acquires Cerus Endovascular
Stryker Corp. announced on May 2 that it completed its acquisition of Cerus Endovascular Ltd. According to data captured in the LevinPro HC database, this represents the 41st Medical Devices transaction of the year. Cerus Endovascular is a privately held, commercial-stage, medical device company engaged in the design and development of neurointerventional devices for the treatment of intracranial aneurysms. Stryker develops, manufactures and markets specialty surgical and medical products. These include orthopedic implants, powered surgical instruments, endoscopic systems and patient care and handling equipment. Stryker impacts more than 130 million patients annually. Stryker’s... Read More »
Northgate Technologies Acquires Houston Startup Allotrope Medical
Illinois-based Northgate Technologies Inc. has announced its acquisition of Allotrope Medical to further its goal in optimizing the surgical environment for minimally invasive surgery. According to data captured in the LevinPro HC database, this acquisition represents the 39th Medical Devices transaction of the year. Allotrope Medical is a Houston-based startup that has designed an electrosurgical ureter identification system for optimizing surgery for both robotic and non-robotic laparoscopic procedures. The StimSite technology is a hand-held device used by general and OB/GYN surgeons and has received a Safer Technologies Program designation from the FDA. Allotrope Medical was founded in... Read More »
Xtant Medical Acquires Coflex and Cofix Product Lines for $17 Million
Xtant Medical Holdings, Inc. announced that it purchased the product lines of Coflex and Cofix from Surgalign Holdings, Inc. for $17 million. The deal closed on February 28, 2023. UBS Investment Bank served as the exclusive financial advisor and DLA Piper LLP served as legal counsel to Surgalign. Fox Rothschild LLP served as legal counsel to Xtant. Coflex is an interlaminar stabilization device used after an open decompression that can be performed in various settings, offering a non-fusion treatment option for lumbar spinal stenosis patients. Cofix is a supplemental fixation device, which is a minimally invasive system intended for use on all levels of the lumbar spine. Xtant Medical is a... Read More »Schedule a demo
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