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 »
MedPlast Adds Integer’s Surgical and Orthopedics Lines
MedPlast Inc., a portfolio company of JLL Partners and Water Street Healthcare Partners, announced the largest deal in the Medical Device sector in May 2018. The company, which provides integrated custom plastic processing solutions for finished medical devices, acquired the advanced surgical and orthopedics lines (ASO) from Integer (NYSE: ITGR) for $600 million. The transaction includes 10 manufacturing facilities. The ASO business comprises products and services for the laparoscopy, general surgery, biopsy and drug delivery, arthroscopic devices and components and orthopedic markets. Integer, formerly known as Greatbatch, rebranded in 2016 under the Integer name. With this acquisition,... Read More »Schedule a demo
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