Baxter International Catches Cheetah Medical
Baxter International (NYSE: BAX) has been quiet on the merger and acquisition front since January 2018. The deal drought ended on September 10, 2019 when the med-tech company announced its acquisition of Cheetah Medical, based in Newton Center, Massachusetts. Cheetah provides non-invasive fluid management monitoring technologies, designed for use in critical care, operating room and emergency department settings. Its technology is available in approximately 30 countries. The price for the privately held company was $190 million in cash upfront and an additional $40 million in clinical and commercial milestones. This acquisition boosts Baxter’s portfolio with a non-invasive... Read More »
Robotics Firm Acquired by Siemens Healthineers
After a nearly two-year hiatus, the diagnostic and therapeutic imaging giant Siemens Healthineers AG (XETRA: SHL.DE) has agreed to purchase Corindus Vascular Robotics, Inc. (NYSE: CVRS) for $1.1 billion, at a price of $4.28 per share. Corindus is a global leader in robotic-assisted vascular interventions. Its CorPath platform is the first FDA-cleared medical device to bring robotic precision to percutaneous coronary and vascular procedures. On a trailing 12-month basis, Cordindus reported approximately $12.3 million in revenue. Siemens plans to combine its high-quality imaging, digital and artificial intelligence tools with Corindus’ precision robotics platform to improve treatment for... Read More »
Cantel Medical Strikes Another Dental Deal
Cantel Medical Corp. (NYSE: CMD) acquired another medical device company last week, Hu-Friedy Mfg. Co., LLC. The target company has a long history as a dental instrument manufacturer, providing instrument reprocessing workflow systems that have served the dental industry for over 111 years. Cantel agreed to pay $725 million upfront, $60 million of which will be paid in Cantel stock and the rest in cash (3.x revenue and 15.1x EBITDA), and up to $50 million in potential cash and stock earnouts after reaching certain milestones. Combining Hu-Friedy’s position in dental instrumentation and instrument management systems with Cantel’s dental infection prevention consumables... Read More »
Smith & Nephew Acquires Robotics Firm Atracsys
Smith & Nephew plc (NYSE: SNN) has been on a shopping spree this year. After reporting two deals in March and a third in April, they’re at it again. Now the medical device maker has acquired Atracsys Sarl, a Swiss medical device firm with a focus on robotics. The company provides optical navigation and robotic tracking components with applications in orthopedics, neurosurgery, spine and dental and other computer-assisted surgical procedures. Atracsys’ FusionTrack 500 optical tracking camera will be a core enabling technology for Smith & Nephew’s multi-asset digital surgery and robotic ecosystem. This transaction meshes well with a recent purchase in particular. No... Read More »
Varian Medical Makes Two Deals in May
Varian Medical Systems (NYSE: VAR) is on the move again. The Palo Alto, California-based medical device maker announced two deals in May 2019 targeting two very different companies. Varian (market cap $11.6 billion) designs, manufactures, sells and services medical devices and software products for treating cancer and other medical conditions. The earlier deal, announced on May 9, brought aboard privately held cardiac ablation firm Cyberheart, based in Sunnyvale, California, for an undisclosed amount. CyberHeart’s intellectual property covers cardiac radioablation, which involves using radiation in the heart and other forms of radiosurgery for certain heart diseases. The second deal,... Read More »Schedule a demo
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