RoundTable Healthcare Partners Sells Symmetry Surgical to Aspen Surgical
Aspen Surgical, a portfolio company of Audax Private Equity, announced that it purchased Symmetry Surgical Inc. The company was sold by RoundTable Healthcare Partners, LLC. Terms were not disclosed. William Blair and Baird acted as financial advisors to Symmetry. Gibson, Dunn & Crutcher LLP acted as exclusive legal advisor to RoundTable. The sale was completed on October 27, 2022. Founded in 1999, Aspen Surgical is a medical equipment manufacturer based out of Caledonia, Michigan. It manufactures products such as blades/scalpels, needles, wound closures and surgical clamps. Symmetry Surgical develops and delivers innovative surgical instruments for clinicians. It... Read More »
Burke Porter Group Acquires D&K Engineering
Burke Porter Group (BPG) announced on October 14 that it acquired San Diego, California-based D&K Engineering (D&K). According to the LevinPro HC database, this marks the 26th contract development manufacturing organization (CDMO) acquisition of the year. Founded in 1953, BPG is a global supplier of automated diagnostic, testing and production solutions serving life science and specialty industrial end markets. BPG focuses on automating high-precision processes, leveraging its capabilities in microfluidics, optical design, additive manufacturing, motion control and software. D&K Engineering is an end-to-end product design and contract manufacturing services provider supporting... Read More »
Boston Scientific Acquires Obsidio
Massachusetts-based Boston Scientific Corporation announced on Aug. 15 its acquisition of Obsidio, Inc., a medical device company headquartered in Columbia, South Carolina, for an undisclosed price. The transaction is expected to be immaterial to Boston Scientific’s GAAP and adjusted earnings per share in 2022. Founded in 2019, Obsidio, Inc. is pioneering an injectable solid biomaterial platform technology with broad applications in interventional radiology and interventional oncology. The company’s first product, Gel Embolic Material (GEM), is used for embolization of blood vessels in the peripheral vasculature. Boston Scientific develops and manufactures minimally invasive... Read More »
3M Spins Off Health Care Business
On July 26, 3M (NYSE: MMM) announced its plans to spin-off its Health Care business, which would create two public companies that are well positioned to pursue their respective priorities. The transaction is expected to close by the end of 2023. Health Care is anticipated to be spun off with net leverage of around 3.0x – 3.5x EBITDA. New 3M expected to retain a stake of 19.9% in Health Care. The New 3M, with $26.8 billion in sales in 2021, will remain a global material science innovator serving customers across a range of industrial and consumer end markets. Health Care, with $8.6 billion in sales in 2021, will focus on wound care, healthcare IT, oral care and biopharma filtration.... Read More »
DKSH Bolsters Its Medical Device Business with Acutest Systems Acquisition
DKSH Business Unit Healthcare has signed an agreement to acquire Acutest Systems, a Malaysian in-vitro diagnostic provider, expanding its presence in the fragmented medical device industry in Asia Pacific. The closing of the transaction is expected during the second quarter of 2022 and is subject to certain conditions. The transaction diversifies DKSH’s medical device business and provides the company access to additional general practitioners, pharmacy chains, medical centers, laboratories and hospitals. Malaysia is a dynamic medical device market which offers significant growth opportunities. Acutest also has a solid customer base and complementary supplier and product portfolios.... Read More »Schedule a demo
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