Meridian Targets Magellan Biosciences
Lead poisoning has been a prominent news story this year, thanks to the tragic circumstances now playing out in Flint, Michigan. So it’s no surprise that Magellan Biosciences, Inc. and its subsidiary, Magellan Diagnostics, Inc., have been sold to Meridian Bioscience, Inc. (NASDAQ: VIVO) for $66 million. Majority owner Ampersand Capital Partners, together with Tekla Capital Management and Boston Community Venture Fund, made their exit from the business. Magellan has built a national reputation for point-of-care testing kits that measure levels of lead in the bloodstream. Its LeadCare® II, LeadCare Ultra and Plus systems are used by more than 6,500 physician offices and clinics in the... Read More »Canon Buys Toshiba Medical Systems
Two companies, two strategic plans. That’s what brought Canon Inc. (NYSE: CAJ) together with Toshiba Corp. (OTCQB: TOSYY) in a deal to acquire Toshiba’s medical device business. Toshiba, which makes laptops, home appliances, nuclear power equipment and more, somehow deemed Toshiba Medical Systems as a non-core asset and decided to sell. For its part, Canon decided earlier this year to diversify beyond cameras and copiers. Canon will pay approximately $5.9 billion for Toshiba Medical Systems, which includes diagnostic imaging systems such as MRI, X-ray and ultrasound equipment. Read More »Leap Day Boosts February Deal Volume
It’s Leap Year, which means February was a day longer in 2016. This year, that extra day marked the announcement of seven healthcare transactions, which raised the month’s total to a healthy 113 deals. The services sectors were more active than usual, and accounted for 65% of the total. Usually, the services side makes up about 55% to 60%. Dollar volume was healthy, too, at $27.7 billion. But given the records set in 2015, February’s dollar total ended up 35% below the same month a year ago. The deals may be getting smaller, but they’re still being made. Read More »Software for Sleep Disorders Attracts $800 Million
Sleep-disordered breathing is big money. Anyone who has laid awake night after night beside a chronic snorer would pay just about anything for a bit of quiet, most likely. Enter ResMed Inc. (NYSE: RMD), which has built its business on medical devices to treat sleep-disordered breathing and respiratory care. The company has made several acquisitions over the years, predominently in the medical device sector (see chart below). Targets have ranged from the German firm MAP Medezin-Technologie, acquired in 2001, to the Chinese sleep-device maker Curative Medical, a more recent acquisition in 2015. Two recent transactions have focused on the digital side of healthcare delivery. ResMed paid an... Read More »Another Billion-Dollar Stryker Deal
It’s been one-a-week for Stryker Corporation (NYSE: SYK). The medical device maker announced two deals in February, including one for $2.77 billion. That was for Madison Dearborn Partners’ portfolio company, Sage Products LLC, which makes and distributes disposable products aimed at reducing hospital-acquired infections, primarily in the ICU and Med/Surg unit. The third week in February brought another big announcement, the acquisition of Physio-Control International, Inc. for nearly $1.3 billion, from Bain Capital. Physio-Control makes and markets monitors, defibrillators and CPR-assist devices, as well as data management and support services. This acquisition complements... Read More »Schedule a demo
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