Ethicon Sells Its Advanced Sterilization Products for $2.7 Billion

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 »
Deal of the Week: Celgene/Impact

Deal of the Week: Celgene/Impact

Biotechnology deals are off to a strong start in 2018, thanks to the Biotech Showcase 2018 held every year alongside the J.P. Morgan Healthcare Conference. In the first two weeks, 16 transactions were made public. This year, the Showcase registration desk was just getting into full swing on Sunday, January 7, when Celgene Corp. (NASDAQ: CELG) announced its $1.1 billion acquisition of Impact Biomedicines, a privately held biotech based in San Diego. The draw is Impact’s lead product candidate, fedratinib, a highly selective JAK2 kinase inhibitor that is being evaluated for myelofibrosis and polycythemia vera. Fedratinib was evaluated in 877 patients across 18 clinical trials. In a... Read More »

Medical Device Sector Is Most Active in H1:17

The Medical Device sector has been humming. Granted, it comprises a huge range of things, from hip and knee joints to cardiovascular devices. Since 2016, 176 deals have been announced, and $102 billion has been committed based on 73 disclosed prices. Among the 176 deals, 14 target companies specialize in cardiovascular devices, 14 specialize in orthopedic and spine devices, 10 specialize in aesthetic devices each, and eight specialize in vascular devices, to name a few. The most recent deal, on July 10, was of a company that covered a very interesting niche of medical devices. ThermoGenesis Corp., a wholly-owned subsidiary of Cesca Therapeutics Inc., (NASDAQ: KOOL) acquired privately held... Read More »

Q1:17 Biotechnology Deals Keep Climbing

Biotechnology deal activity has climbed steadily over the past five quarters. The sector reached 62 transactions in Q1:17, an increase of 13% over the previous quarter and up 94% year-over-year. The total is 31% of the 203 deals announced in the previous 12 months. M&A in this sector will remain active for years to come, as pharmaceutical companies that have abandoned their own R&D turn to buying up smaller biotechs with promising clinical-stage compounds. The 21st Century Cures Act also benefits this sector, with its billions of dollars in financing for both the “Cancer Moonshot” and the BRAIN Initiative. In the first quarter, 20 of the 62 transactions involved the purchase of an... Read More »

Medical Device Deals Spring Back to Life

The Medical Device sector ended the first quarter of 2017 with 22 announced deals, almost even with Q4:16’s total of 23 deals, and down 29% from the year-ago quarter. But the lull may not last into the second quarter.  As of April 10, 2017, three medical device deals have been announced in Q2:17. On April 4th, Becton, Dickinson and Company (NYSE: BDX) acquired privately held Caesarea Medical Electronics (CME) for an undisclosed price. CME designs, manufactures and markets a range of infusion and syringe pumps, as well as related accessories and disposable administration sets for both home care and hospital settings. The acquisition expands BD’s infusion portfolio to include... Read More »