Stryker’s Minimally Invasive Acquisitions

by | Sep 15, 2016 6:28 pm | Medical Devices, Private Equity

For a company that has targeted minimally invasive surgical products of late, Stryker Corporation (NYSE: SYK) has been highly visible in the acquisition arena this year. It started in February 2016. That month, the medical device giant announced three deals, totaling $2.03 billion. In April, three more acquisitions were announced, with only one disclosed price of $40.6 million. Halfway through September, the company has made two more acquisitions, for undisclosed prices. For those keeping score, that’s eight deals for approximately $4.1 billion. Stryker’s most recent deals have targeted Ivy Sports Medicine, LLC for its minimally invasive meniscal repair platform, and Restore... Read More »

March 2016’s Biggest Health Care Deals

by | Apr 13, 2016 8:29 am | Other Services, Pharmaceuticals, Private Equity

Health care companies are still attracting buyers, and those in the services sectors seem to be the hottest. Last month saw healthy deal volume, at 134 transactions. For a year that started slowly for health care mergers and acquisitions, March 2016’s deal volume is only 3% lower than the same month a year ago. Industry sources have noted the dearth of deals across many industries going into March, even though some uncertainties that troubled markets earlier this year, such as China’s economic slow down, haven’t occupied center stage recently. Leverage is not an overwhelming concern, but credit has tightened over the past few months. And with the new, more onerous federal rules regarding... Read More »

Another Billion-Dollar Stryker Deal

by | Feb 17, 2016 3:19 pm | Medical Devices, Private Equity

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 »

NKKR Buys a Texas Air Ambulance Company

by | Mar 16, 2015 7:45 pm | Other Services

Air ambulance companies are not on most investors’ radar, yet at least one acquisition of this ancillary healthcare service pops up about once a year. This year’s deal came early, as KKR & Co. LP (NYSE: KKR) paid an undisclosed amount for Air Medical, an air ambulance company based in Lewisville, Texas. It was owned by affiliates of private equity firms Bain Capital and Brockway Moran & Partners. Last year’s air ambulance deal was announced in August, when privately held REACH Air Medical Services of Santa Rosa, California acquired Emergency Airlift Service in North Bend, Oregon. No prices were disclosed, of course. In fact, the last price we recorded for an air ambulance company... Read More »