LeMaitre Acquires New Jersey-based Medical Device Firm
LeMaitre Vascular (NASDAQ: LMAT), a Massachusetts-based medical device manufacturer, announced a new addition to its portfolio. The company has purchased Artegraft, Inc., which processes and sells biologic vascular grafts that are derived from bovine carotid arteries and are implanted primarily in hemodialysis access patients. Its products are marketed under the brand Artegraft and are sold only in the U.S. Artegraft generated trade sales of $15.6 million and estimated hospital-level sales of $18.6 million during the twelve-month period ended May 31, 2020. Artegraft’s unit sales grew by 10% in 2019. LeMaitre purchased Artegraft for a total of $72.5 million in cash, with $65 million upfront... Read More »
More Medical Device Deals in May
The market is still busy for healthcare technology sectors, including medical device companies. So far, 29 deals have been announced in 2020 in the Medical Device sector, compared with 32 a year ago, according to our Deal Search Online database. Yes, that’s a slight drop, year over year, but nothing compared with some of the services sectors. Through mid-May, five deals targeting medical device companies are on the books. The latest announcement was from Smiths Medical, the U.S. subsidiary of Smiths Group plc (OTC: SMGKF). The parent company is a British diversified engineering business with operation in more than 50 countries. Smiths Medical, based in Plymouth, Minnesota, is a... Read More »
Biofourmis Gets into Oncology with Gaido Health
Biofourmis, a privately held global digital therapeutics company, has moved into the oncology arena with its acquisition of Gaido Health from Takeda Pharmaceuticals (NYSE: TAK). Gaido Health is also a digital therapeutics company but exclusively focused on the oncology market. It was part of Takeda Digital Ventures, Takeda’s corporate technology investment, and incubation arm. Financial terms were not disclosed. Boston-based Biofourmis and its Biovitals platform use artificial intelligence (AI) to offer personalized, predictive care for patients. It acquired Swiss wearables firm Biovation AG in November 2019 for an undisclosed price. For Biofourmis, the Gaido Health acquisition seeks... Read More »
One Drop Adds Glucose Sensing Platform
New York City-based One Drop has acquired all the assets and intellectual property of Sano Intelligence, Inc., including its continuous glucose sensing platform. One Drop is a digital health company focused on eHealth solutions for people living with diabetes and other chronic conditions. It offers a diabetes management platform with affordable and accessible care to patients via an iOS or Android smartphone. The app is available for free download worldwide. Sano Intelligence, a Silicon Valley healthcare startup, has developed a biometric sensor that can capture and transmit glucose and blood chemistry data continuously to any device. The almost decade of work put into developing the Sano... Read More »
OrthoPediatrics Buys ApiFix Ltd.
Deals that were in the pipeline prior to the Covid-19 pandemic are still closing, particularly on the technology side of health care. OrthoPediatrics Corp. (NASDAQ: KIDS) announced its acquisition of Israeli orthopedic device maker ApiFix Ltd. on April 1 for approximately $36 million. OrthoPediatrics provides products to the pediatric orthopedic market, such as trauma and deformity correction, scoliosis and sports medicine, in the United States and 41 countries. It went public in October 2017, raising $52 million as a company serving the previously neglected field of children’s orthopedics and implants. Revenues in 2019 were up 59%, to $76.6 million, compared with $45.6 million for... Read More »Schedule a demo
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