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 »
Organon Hits the Ground Running
Early in March 2020, Merck & Co., Inc. (NYSE: MRK) announced the spin-off of a new company focused on women’s health. The new company, Organon & Co., will have a portfolio of more than 60 trusted medicines that address an entire spectrum of conditions that women face. Organon is expected to have a global footprint with approximately 10,000 employees with headquarters located in Jersey City, New Jersey. If the name rings any bell at all, it’s because Organon was originally a subsidiary of Schering-Plough Corporation, which Merck acquired in 2009 for a whopping $41 billion. Schering-Plough actually bought Organon in 2007 from Akzo Nobel (OTCMKTS: AZKOY) for $15.8 billion, according... Read More »
Hill-Rom Holdings Hits the Ground Running
Only a month into the new year and Hill-Rom Holdings, Inc. (NYSE: HRC) already has two acquisitions on the books, according to search results in our Healthcare Deal Database. Hill-Rom Holdings operates as a medical technology company worldwide. Its products enable earlier diagnosis and treatment, optimize surgical efficiency and accelerate patient recovery while simplifying clinical communication and shifting care closer to home. Back on January 19, the medical device company acquired Bardy Diagnostics, Inc. for $375 million in cash, plus net operating losses valued at more than $20 million. Bardy Diagnostics was founded in 2013 and helps improve clinical management and outcomes for... Read More »
Boston Scientific Buys Preventice Solutions, Inc.
The medical device giant, Boston Scientific Corporation (NYSE: BSX), is kicking off the new year with a bang. The company has announced the acquisition of Preventice Solutions, Inc., which offers a full portfolio of mobile cardiac health solutions and services, ranging from ambulatory cardiac monitors to cardiac event monitors and mobile cardiac telemetry. Boston Scientific is offering $925 million upfront in cash and up to an additional $300 million in a potential commercial milestone payment. Boston Scientific has been an investor in Preventice since 2015 and currently holds an equity stake of approximately 22 percent., which will result in a $720 million net payment and a net milestone... Read More »Schedule a demo
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