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 »
Globus Medical Merges With NuVasive in $3.1 Billion Deal
Globus Medical has announced its merger with San Diego-based NuVasive, Inc. in an all-stock deal valued at $3.1 billion. Following the close of the transaction, Globus Medical shareholders will own about 72% of the combined company and NuVasive shareholders will own the remaining 28%. NuVasive will allow Globus to support more patients and expand its commercial reach in the $50 billion global musculoskeletal market. The combined company will have an 11-member board composed of all eight directors from Globus Medical’s board and three directors from NuVasive’s board. The deal is expected to be completed by mid-2023. NuVasive is a medical device company based in San Diego. The... Read More »
Abbott Acquires Cardiovascular Systems for $890 Million
Abbott is expanding its cardiovascular device portfolio with its acquisition of Cardiovascular Systems. Under terms of the agreement, Cardiovascular Systems’ stockholders will receive $20 per common share at a total expected equity value of approximately $890 million. J.P. Morgan Securities LLC served as the financial advisor to Cardiovascular Systems. The transaction is expected to be neutral to Abbott’s 2023 ongoing earnings per share guidance. Cardiovascular Systems is a medical device company focused on the development and commercialization of solutions for treating complex peripheral vascular disease and coronary artery disease. Abbott manufactures and sells healthcare... Read More »
Ampersand-Backed Sterling Medical Devices Merges With RBC Medical Innovations
Sterling Medical Devices, a portfolio company of private equity firm Ampersand Capital Partners, announced on February 8 its recapitalization and simultaneous merger with RBC Medical Innovations. RBC brings additional design and development capacity, including expertise in energy-based electromechanical devices, as well as manufacturing capabilities to the combined organization. As part of the transaction, MedTech industry executive David Montecalvo has been appointed CEO of the combined company. Sterling Founder Dan Sterling will remain on the senior leadership team and a board director. RBC Founder Carl Mayer has joined the board of directors. RBC Medical Innovations is a medical device... Read More »Schedule a demo
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