Boston Scientific Buys Claret Medical
The deals keep coming from Boston Scientific Corp. (NYSE: BSX). The medical device maker announced its sixth deal so far this year on July 20. The latest target is privately held Claret Medical, Inc., based in Santa Rosa, California. Claret developed and commercialized the Sentinel Cerebral Embolic Protection System, which is used to protect the brain during certain interventional procedures, primarily during transcatheter aortic valve (TAV) replacement. It is the only device to protect patients against the risk of stroke. The Sentinel System received CE Mark in 2014 and FDA clearance in 2017. Boston Scientific agreed to pay $220 million in cash, as well as a potential reimbursement-based... Read More »
Otsuka Scores Twice in One Week
Otsuka Pharmaceutical Co., Ltd., a subsidiary of Otsuka Holdings (OTC: OTSKY), announced back-to-back deals in early July, in which it entered a new field, and bolstered one of its existing segments. Otsuka’s research areas are in psychiatric and neurological diseases, hematological cancers, and kidney, cardiovascular, and infectious diseases. On July 11, the company announced its acquisition of ReCor Medical, a portfolio company of Sofinnova Partners, for an undisclosed price. The Palo Alto, California-based medical device company specializes in the treatment of hypertension, a new area for Otsuka. ReCor was founded in 2009 by Sofinnova Partners and Professor Jacques Seguin, MD, who... Read More »
Boston Scientific Announces Fourth Deal in 2018
In a quiet holiday week, Boston Scientific Corporation (NYSE: BSX) made some news with its $202 million acquisition of privately held Criterion Medical, Inc. Founded in 2016, Criterion Medical has developed a single-shot cryoablation platform for the treatment of atrial fibrillation (AF). Boston Scientific already held a 35% stake in the Carlsbad, California-based company. The $202 million paid for the 65% it didn’t already own. The addition of this cryoballoon platform positions Boston Scientific as the first to have both cryothermal and radiofrequency (RF) single-shot, balloon-based ablation therapies in its portfolio. This is Boston Scientific’s fourth announced acquisition... Read More »
LifeScan Diabetes Deal Brings $2.1 Billion
Johnson & Johnson’s (NYSE: JNJ) selling spree continued with the divestiture of LifeScan, Inc. for $2.1 billion. LifeScan is a leader in blood glucose monitoring products, serving approximately 20 million patients globally in more than 90 countries. LifeScan markets blood glucose monitoring systems for home and hospital use under the global brand, One Touch. The OneTouch portfolio includes personal blood glucose meters, testing strips, lancets, point of care testing systems and integrated digital solutions. The buyer, Platinum Equity, made its offer in March 2018 after working with J&J to craft a deal to allow LifeScan to beome a standalone business that would continue to... Read More »
Ethicon Sells Its Advanced Sterilization Products for $2.7 Billion
Johnson & Johnson (NYSE: JNJ) subsidiary Ethicon last week sold its advanced sterilization products (ASP) business to Fortive Corporation (NYSE: FTV) for $2.7 billion. The ASP business is a global provider of innovative sterilization and disinfection solutions. It generated adjusted EBITDA margin of approximately 25% (unaudited) in 2017. Fortive is a diversified industrial growth company comprised of professional instrumentation and industrial technologies businesses. Fortive’s brands generated revenue of $6.7 billion in 2017. ASP’s products include the STERRAD system for sterilizing instruments and the EVOTECH and ENDOCLENS system for endoscope reprocessing and cleaning.... Read More »Schedule a demo
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