Resonetics Acquires Memry Corporation, SAES Smart Materials for $900 Million

Resonetics Acquires Memry Corporation, SAES Smart Materials for $900 Million

by | Jan 9, 2023 3:51 pm | Medical Devices

Resonetics has announced its acquisition of Memry Corporation and SAES Smart Materials, Inc. for $900 million. Headquartered in Bethel, Connecticut, Memry Corporation is a global market and technology leader in Nitinol components. Nickel titanium, also known as Nitinol, is a metal alloy of nickel and titanium, where the two elements are present in roughly equal atomic percentages. New Hartford, New York-based SAES Smart Materials creates the Nitinol raw material from nickel and titanium and converts it into various form factors. Resonetics, which acquired the companies from SAES Getters S.p.A., was founded in 1987. Resonetics is a pioneer in advanced engineering, product development,... Read More »
PE-Backed Cadence Announces Acquisition of Utitec

PE-Backed Cadence Announces Acquisition of Utitec

by | Jan 4, 2023 1:51 pm | Medical Devices, Private Equity

Cadence, Inc., a portfolio company of Kohlberg & Company since April 2018, announced on January 3 its acquisition of Utitec, Inc. in the first Medical Devices transaction of 2023. Brown Gibbons Lang & Company served as the exclusive financial advisor in the transaction. Terms of the deal were not disclosed. Utitec is a manufacturer specializing in miniature, deep drawn medical devices and commercial components. The company is headquartered in Watertown, Connecticut, with an additional medical facility located in Alajuela, Costa Rica. Cadence is a contract manufacturing partner, providing initial product design and development through complete manufacturing. Cadence employs more... Read More »
Summit Partners Credit Advisors invests in Orthotic Holdings Inc.

Summit Partners Credit Advisors invests in Orthotic Holdings Inc.

by | Dec 27, 2022 2:55 pm | Medical Devices

Summit Partners Credit Advisors announced its acquisition of Orthotic Holdings Inc. (OHI), a company that creates custom medical devices for healthcare providers who treat conditions associated with the lower extremities. OHI was founded in 2011 and is based out of Mesa, Arizona. It has seven orthopedic brands under its umbrella that all treat lower extremity conditions. A branch of Summit Partners, Summit Partners Credit Advisors is a leading provider of debt capital to private and public middle-market companies. It was founded in 2010. According to data captured from the LevinPro HC database, this acquisition marks the 121st Medical Devices deal of the year, and 26th of the quarter. The... Read More »
Tandem Diabetes Care Acquires AMF Medical

Tandem Diabetes Care Acquires AMF Medical

by | Dec 13, 2022 12:46 pm | Medical Devices

Tandem Diabetes Care, Inc., a global insulin delivery and diabetes technology company, announced its acquisition of insulin patch pump developer AMF Medical SA. The transaction is subject to the satisfaction of customary closing conditions and is expected to close in January 2023. Baker & McKenzie served as legal advisor to Tandem Diabetes Care. SVB Securities LLC served as exclusive financial advisor and Homburger AG served as legal advisor to AMF Medical. Terms of the deal were not disclosed. Founded in 2006, Tandem Diabetes manufactures the t:slim X2 insulin pump with Control IQ technology. AMF Medical SA is the privately held Swiss developer of the Sigi™ Patch Pump. The Sigi Patch... Read More »
Resonetics Acquires Memry Corporation, SAES Smart Materials for $900 Million

Boston Scientific Acquires Majority Stake in Acotec Scientific for More Than $500 Million

by | Dec 12, 2022 12:06 pm | Medical Devices

Boston Scientific has entered into an agreement to acquire a majority stake in Acotec Scientific Holdings Limited. The proposed price is HK$20 per share, which represents a total upfront cash payment consideration of approximately $523 million USD for the 65% stake. Boston Scientific expects the impact to adjusted earnings per share to be immaterial in 2023 and the impact to GAAP earnings per share to be less accretive, or dilutive, as the case may be, due to amortization expense and acquisition-related net charges. The completion of the transaction, which is anticipated in the first half of 2023, is subject to acceptance and approval by Acotec shareholders and other conditions set forth... Read More »
PE-Backed Cadence Announces Acquisition of Utitec

KKR Acquires Clinisupplies from Healthium

by | Dec 7, 2022 11:44 am | Medical Devices, Private Equity

KKR, a leading global investment firm, announced its agreement to acquire Clinisupplies from Healthium MedTech. Clinisupplies’ management team will continue to hold a minority position in the company. KKR is investing in Clinisupplies through KKR Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth health care companies. KKR was advised by Houlihan Lokey, Gibson, Dunn & Crutcher LLP, PWC and BCG. The financial terms of the acquisition were not disclosed. Clinisupplies is a UK-based manufacturer and distributor of continence care products, including urinary collecting devices and catheters. Clinisupplies’ products are supplied to hospitals and... Read More »