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 »
Royal Philips Buys BioTelemetry
The medical device giant Royal Philips (NYSE: PHG) is back with a new deal, adding BioTelemetry, Inc. (NYSE: BEAT). The deal is valued at $2.8 billion, consisting of $72.00 per share in cash, or a 16.5% premium to BEAT’s closing price on December 17, 2020. BioTelemetry, formerly known as CardioNet, is a leading provider of remote cardiac diagnostics and monitoring, centralized core laboratory services for clinical trials, remote blood glucose monitoring and original equipment manufacturing for healthcare and clinical research customers. BioTelemetry generated an annualized 2020 revenue of $458 million and annualized 2020 EBITDA of $92.3 million. The acquisition is a strong fit with... Read More »
Boston Scientific Divests BTG Specialty Pharmaceuticals Business
In November 2018, Boston Scientific Corporation (NYSE: BSX) purchased BTG plc for $4.8 billion, according to search results in our Healthcare Deal Database. BTG develops and commercializes products used in minimally-invasive procedures targeting cancer and vascular diseases. However, the company also had an acute care pharmaceutical division, which based on recent deal activity, it seemed the medical device giant wasn’t too interested in holding onto the non-medical device portions of BTG. In the fourth quarter of 2019, Boston Scientific sold the pharmaceutical licensing royalties unit of BTG, and last week, the company announced the second divestment. Boston Scientific is selling... Read More »
Smith & Nephew Returns to the M&A Market
It’s been over a year since Smith & Nephew plc (NYSE: SNN) announced a transaction, but the medical device manufacturer is back on the acquisition trail. On September 29, the company purchased Integra LifeSciences Holdings Corporation’s (NASDAQ: IART) extremity orthopedics business for $240 million. The business includes a portfolio of devices, implants and instruments for shoulder replacement as well as reconstruction of bone in the hand, wrist and elbow, and foot and ankle. This deal will significantly strengthen Smith & Nephew’s extremities business by adding a combination of a focused sales channel, complementary shoulder replacement and upper and lower extremities... Read More »
Varian and Siemens Healthineers Merge in Multi-Billion Dollar Deal
After a slow opening month for the third quarter, the merger between Varian Medical Systems (NYSE: VAR) and Siemens Healthineers AG (XETRA: SHL.DE) might bring some spark to the healthcare M&A market. Siemens Healthineers announced it was purchasing Varian for $16.4 billion, the largest deal of the year so far. Siemens Healthineers will acquire all shares of Varian for $177.50 per share in cash, a premium of approximately 24% to the closing price of Varian’s common stock on July 31, 2020. Varian generated trailing 12-month revenues of $3.2 billion and EBITDA of $536.3 million. For more than 70 years, Varian has developed, built, and delivered innovative cancer care technologies and... Read More »Schedule a demo
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