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Varian and Siemens Healthineers Merge in Multi-Billion Dollar Deal

Varian and Siemens Healthineers Merge in Multi-Billion Dollar Deal

by | Aug 4, 2020 8:05 am | Medical Devices

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 »
Varian and Siemens Healthineers Merge in Multi-Billion Dollar Deal

Medicrea Acquired by Medtronic to Boost Spinal Surgery Portfolio

by | Jul 21, 2020 8:27 am | Medical Devices

Medtronic plc (NYSE: MDT) has had a busy 2020, but the global device manufacturer doesn’t seem to be slowing down. On June 15, the company announced it acquired Medicrea (OTCMKTS: MRNTF) for $158.7 million, or $8 a share. This acquisition will strengthen Medtronic’s position as a global innovator in enabling technologies and solutions for spine surgery.   Medicrea leads the design, integrated manufacture, and distribution of more than 30 510(k) cleared implant technologies, utilized in over 175,000 spinal surgeries to date. It has 175 employees worldwide, including 35 employees in New York City. The company also has a modern manufacturing facility in Lyon, France, housing the... Read More »
LeMaitre Acquires New Jersey-based Medical Device Firm

LeMaitre Acquires New Jersey-based Medical Device Firm

by | Jun 30, 2020 9:10 am | Medical Devices

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

More Medical Device Deals in May

by | May 18, 2020 3:34 pm | Medical Devices

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 Gets into Oncology with Gaido Health

by | Apr 20, 2020 4:33 pm | Medical Devices

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

One Drop Adds Glucose Sensing Platform

by | Apr 14, 2020 1:48 pm | Medical Devices

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 »