Anika Therapeutics, Inc. Announces Double Purchase
Anika Therapeutics, Inc. (NASDAQ: ANIK), a medical device company that develops therapeutic products for tissue protection, healing and repair, announced two acquisitions in mid-Januaryto bolster its device portfolio. For a modest sum of $35 million upfront and a potential $60 million in milestones, the company acquired Parcus Medical, LLC, which provides implant and instrumentation products used by surgeons to repair and reconstruct damaged ligaments and tendons due to sports injuries, trauma and disease. The deal will help expand Anika’s offerings into the ambulatory surgical center (ASC) market. Parcus reported $12.5 million in revenue in 2019. Anika also acquired Arthrosurface for $60... Read More »
2019’s Biggest Healthcare Deals, by Sector
2020 has just begun, which means it’s time to look back at the healthcare M&A landscape of 2019. Just three days into the new year, nearly 1,780 deals are already on the books for 2019. More deals will turn up as we search our many sources, but the number likely won’t top the record of 1,900-plus set in 2018. Thanks to the multi-billion-dollar deals announced in the Biotech and Pharmaceutical sectors, 2019 will set a new spending record. Preliminary data show $399.1 billion was spent on healthcare acquisitions last year, about 20% higher than in 2018. We expect that number to rise as we go through the year and the 10Ks and quarterly reports come out. It’s possible the... Read More »
Baxter International Adds Seprafilm
Baxter International Inc. (NYSE: BAX) is having a busy 2019. After acquiring Cheetah Medical in September for $190 million in cash, it announced last week it was taking Seprafilm off of Sanofi’s (NYSE: SNY) hands. Sanofi will get $350 million for the portfolio, which includes Seprafilm Adhesion Barrier and related assets. The product is indicated for use in patients undergoing abdominal or pelvic laparotomy as an adjunct intended to reduce adhesions between the abdominal wall and the underlying viscera. Seprafilm had global sales of $100 million in the past 12 months, including in markets such as the United States, Japan, China, South Korea and France. This acquisition builds... Read More »
Lumenis Finally Finds a Buyer
After a four-year partnership, XIO Group has finally sold Lumenis. CVC Capital Partners and FountainVest Partners came incredibly close to purchasing the medical device firm late last year for an estimated $950 million, according to reports in Calcalist, but the deal was never finalized. Fast forward to the present day, and Baring Private Equity Asia (BPEA) has emerged as the buyer, spending $1 billion for the Israeli firm. Lumenis provides specialty minimally invasive medical devices in the fields of aesthetics, urology, ophthalmology, ENT, and gynecology. The company has a presence in more than 100 countries. XIO Group acquired Lumenis in 2015 for $510 million, or $14 a share, when the... Read More »
Stryker Takes Out Wright Medical Group for $5.4 Billion
It’s a deal that will likely spawn more deals. Medical device giant Stryker Corporation (NYSE: SYK), with a market cap of $76.4 billion, is acquiring its smaller rival, Wright Medical Group N.V. (NASDAQ: WMGI), with a market cap of $2.8 billion. Stryker will pay $30.75 per share, for a total equity value of approximately $4.0 billion, and a total enterprise value of approximately $5.4 billion, including debt. The deal brings together two highly complementary product portfolios. Wright Medical is a recognized leader in the upper extremities (shoulder, elbow, wrist and hand), lower extremities (foot and ankle) and biologics markets, which are among the fastest growing segments in... Read More »Schedule a demo
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