Boston Scientific Makes Two Deals in March
Boston Scientific Corporation (NYSE: BSX) has had a busy month, and March 2018 isn’t over yet. On March 5, the medical device maker disclosed a deal for EMcision, Limited, based in Montreal, Quebec. The acquisition will expand the Boston Scientific Endoscopy portfolio to include the Habib EndoHPB probe, a novel endoscopic bipolar radiofrequency device, which coagulates tissue in the gastrointestinal tract. The Habib probe has been cleared by the U.S. FDA and received CE mark in the European Union. Although financial terms for the deal were not disclosed, BSX said the acquisition is expected to be immaterial to earnings per share in 2018 on an adjusted and GAAP basis and accretive... Read More »
Laborie Medical Takes Over Congentix Medical
Cogentix Medical, Inc. (NASDAQ: CGNT) is a global medical device company that offers products for flexible endoscopy and the treatment of overactive bladder and urinary incontinence. Its majority share owners, Accelmed Growth Partners LP and Mr. Lewis Pell, who collectively own approximately 60% of Cogentix Medical’s outstanding common stock, agreed to an offer of $3.85 per share (approximately $214 million) from Laborie Medical Technologies (LMT), a subsidiary of Patricia Industries. The offer of $3.85 per share in cash represents a premium of 28% over the average closing price of Cogentix Medical common stock over the last 30 days. In July 2017, Cogentix paid $671,817 (£515,000)... Read More »2017 Biggest Healthcare Deals by Sector
2017 was another big year for billion-dollar healthcare transactions. Among the deals that disclosed prices, 44 topped the billion-dollar mark, for a total of approximately $263.1 billion. Although that number seems high, there were 50 billion-dollar deals announced in 2015, although those totaled a slightly lower $240.1 billion. 2016 posted lower totals for both the number of billion-dollar deals (39) and combined prices ($194.1 billion). Of course the biggest healthcare deal in 2017 was the $77 billion acquisition of Aetna Inc. (NYSE: AET) by CVS Health (NYSE: CVS). But there were many more sizable transactions across the sectors, as the chart below illustrates. See how many you remember... Read More »
Stryker Buys Entellus Medical
Deals for medical device companies in 2017 are keeping pace with the previous year’s deal volume, more or less. With two weeks left in the year, 107 transactions in the Medical Device category have been announced and about $48.0 billion in spending. Deal volume is 5% lower than the 113 transactions announced for all of 2016 in this sector. The dollar volume is 22% lower than last year’s $61.8 billion. The latest deals announced in December include Stryker Corp.’s (NYSE: SYK) $709.6 million acquisition of Entellus Medical (NASDAQ: ENTL), a global medical technology company focused on delivering superior patient and physician experiences through products designed for the... Read More »
Merit Medical Scores Assets from BD and Bard
Just after the release of the third quarter results, Merit Medical Systems, Inc. (NASDAQ: MMSI) announced an asset purchase agreement with two of its competitors. Merit has made two other similar acquisitions in 2017. The company entered into an asset purchase agreement with Becton, Dickinson and Company (NYSE: BDX) and C.R. Bard, Inc. (NYSE: BCR) to acquire various assets in relation to BD’s $24 billion acquisition of C.R. Bard, announced on April 23, 2017. The acquired assets include soft tissue core needle biopsy products currently sold by BD under the trade names of Achieve™ Programmable Automatic Biopsy System, Temno™ Biopsy System and Tru-Cut™ Biopsy Needles, which are currently sold... Read More »Schedule a demo
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