Danaher Disappoints with Q3:23 Sales and Profit Decline

Danaher Disappoints with Q3:23 Sales and Profit Decline

by | Oct 26, 2023 2:48 pm | Healthcare Market Updates, Laboratories, MRI & Dialysis, Medical Devices

Danaher Corp. (NYSE: DHR), a well-known player in the medical device market, recently unveiled its third-quarter financial results on October 24. With a global presence, Danaher specializes in the design, manufacture and distribution of professional, medical, industrial and commercial products and services. The latest earnings report painted a somber picture for Danaher, as the company grappled with a decline in both sales and profits compared to the previous year. This underwhelming performance came as the pharma and biotech sectors experienced a broader loss of momentum in critical markets. “Pharma and biotech took a modest step down, and that was particularly the case in the U.S. In... Read More »
TriSpan Acquires SmartArches

TriSpan Acquires SmartArches

by | Oct 24, 2023 12:14 pm | Medical Devices

TriSpan announced its acquisition of SmartArches from ProSmile, a multi-specialty dental organization in New Jersey, Pennsylvania and Maryland.  Founded in December 2022, SmartArches is a specialty implant-focused dental company with a network of oral surgeons, implant and restorative dentists. It serves patients in eight locations throughout the United States.  With offices in New York and London, TriSpan is a private equity firm that invests in lower middle market companies in North America, Europe and the United Kingdom with annual revenues ranging from $20-100 million. It was founded in 2015.   According to data captured in the LevinPro HC database, this transaction... Read More »
Haemonetics Corporation Buys Medical Device Company OpSens

Haemonetics Corporation Buys Medical Device Company OpSens

by | Oct 10, 2023 10:13 am | Medical Devices

Haemonetics Corporation has announced that it has entered into a definitive agreement to acquire all outstanding shares of OpSens. According to data captured in the LevinPro HC database, this transaction represents the 86th Medical Devices transaction of 2023.  OpSens is being acquired for $2.90 CAD per share in an all-cash transaction representing a fully diluted equity value of approximately $253 million USD at the current exchange rate.  OpSens is a Canadian medical device cardiology-focused company. Its flagship product, the OptoWire, is a second-generation fiber optic pressure guidewire designed to provide the lowest drift in the industry and excellent lesion access. The... Read More »
AirLife Acquires Avanos Medical’s Respiratory Assets 

AirLife Acquires Avanos Medical’s Respiratory Assets 

by | Oct 3, 2023 9:46 am | Medical Devices

AirLife, based in Grand Rapids, Michigan, announced its acquisition of Avanos Medical, Inc.’s Respiratory health business on October 2. Goodwin Procter LLP is acting as legal counsel to AirLife. Terms were not disclosed.   Avanos Medical’s respiratory health business includes BALLARD, MICROCUFF and the endOclear® product lines. AirLife is also purchasing two of Avano’s manufacturing facilities.   Avanos Medical is a medical technology company focused on delivering clinically superior medical device solutions. Its services include providing a vital lifeline for nutrition to patients from hospital to home and reducing the use of opioids while helping patients move from... Read More »
Enovis Corporation Acquires LimaCorporate 

Enovis Corporation Acquires LimaCorporate 

by | Sep 25, 2023 2:01 pm | Medical Devices

Stockholm-based private equity firm, EQT AB, announced on September 25 that it was selling LimaCorporate to Enovis Corporation.   LimaCorporate is a global orthopedic implant manufacturer with a reputation for innovation, reflected in its industry leading know-how in additive manufacturing, such as its proprietary Trabecular Titanium technology. The company focuses on shoulder, knee and hip prostheses with a portfolio that includes one of the first modular shoulder systems in the world, the SMR, the Delta hip cup family and the Physica system knee. According to its financial report, it generated revenue of more than $263.75 million in 2022.   Enovis Corporation is a... Read More »
Laborie Medical Technologies Acquires Urotronic 

Laborie Medical Technologies Acquires Urotronic 

by | Sep 6, 2023 11:07 am | Medical Devices

Portsmouth, New Hampshire-based Laborie Medical Technologies, Inc. (LMT) signed a definitive agreement on September 6 to acquire Urotronic, Inc. According to data captured in the LevinPro HC database, this transaction marks the 76th Medical Devices acquisition of 2023.  Under the terms of the agreement, the transaction consists of an upfront cash payment of $255 million, and up to an additional $345 million in potential commercial and reimbursement milestone payments.  Urotronic is a Plymouth, Minnesota-based medical device company pioneering the application of its Optilume® drug-coated balloon technology for use in interventional urology including treating urethral strictures... Read More »