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Globus Medical Merges With NuVasive in $3.1 Billion Deal

Globus Medical Merges With NuVasive in $3.1 Billion Deal

by | Feb 10, 2023 11:15 am | Medical Devices

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 Acquires Cardiovascular Systems for $890 Million

by | Feb 9, 2023 2:42 pm | Medical Devices

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

Ampersand-Backed Sterling Medical Devices Merges With RBC Medical Innovations

by | Feb 8, 2023 12:34 pm | Medical Devices, Private Equity

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 »
PE Firm Shore Capital Partners Sells Argentum Medical to BioDerm

PE Firm Shore Capital Partners Sells Argentum Medical to BioDerm

by | Feb 7, 2023 12:58 pm | Medical Devices, Private Equity

Chicago-based private equity firm Shore Capital Partners announced the sale of Argentum Medical to BioDerm, a portfolio company of Denver-based private equity firm Mountaingate Capital. The transaction closed on January 31, 2023. Moelis & Company served as financial advisor to Argentum and Winston & Strawn LLP served as legal advisor to Shore and Argentum. Terms of the deal were not disclosed. Based in Geneva, Illinois, Argentum is a provider of infection prevention solutions for the management of wounds. Notably, it manufactures Silverlon, a silver-plated nylon dressing with unique antimicrobial properties. Argentum’s product lines include surgical, burn care, wound care, negative... Read More »
Avania Acquires MAXIS

Avania Acquires MAXIS

by | Feb 7, 2023 12:24 pm | Medical Devices

Avania, which is headquartered in the Netherlands, has acquired San Jose, California-based MAXIS. MAXIS’ clients will benefit from Avania’s international footprint, gaining access to the company’s network in the U.S., EU and Australia. Avania brings enhanced services to the combined company — including biostatistics, data analytics and medical writing. Terms of the deal were not disclosed. Avania is a contract research organization with specialized expertise in medical devices, novel technology and combination products. It advances products from feasibility through post-approval trials in analytics, clinical trials, consulting, regulatory and reimbursement. MAXIS is a medical technology... Read More »
Tyber Medical Acquires ADSM-Synchro Medical

Tyber Medical Acquires ADSM-Synchro Medical

by | Feb 2, 2023 10:33 am | Medical Devices

Morristown, New Jersey-based Tyber Medical LLC has acquired 100% of the capital of ADSM-Synchro Medical (ADSM), a French orthopedic medical device company. The acquisition of ADSM will play a key role in strengthening Tyber Medical’s international presence and fueling its global growth strategy with a wider range of product options in the MIS bunion, PEEK hammertoe and screw fixation arenas. Terms of the deal were not disclosed. ADSM specializes in the development and distribution of implants dedicated to treating surgical forefoot pathologies. Founded in 2010, ADSM has become a market leader in the European medical device industry with products like the ToeGrip Classic, the first hammer... Read More »