Philips grows cardiac monitoring business with Cardiologs pickup

Nearly one year after announcing its $2.8 billion acquisition of BioTelemetry, the Dutch conglomerate is further expanding its reach in remote patient monitoring with the purchase of France-based Cardiologs.

By Susan Kelly • Nov. 9, 2021

4 takeaways from a bumper year of M&A medtech activity (so far)

After hunkering down last year, many companies entered 2021 with large cash reserves and acquisition targets that included players lacking scale to weather the downturn.

By Nick Paul Taylor • Oct. 11, 2021

Medtechs opened 2021 with a flurry of M&A and have not stopped spending since

With deals ranging from tuck-ins to multibillion-dollar takeovers, here's a roundup of the M&A spree so far this year after activity came to a near halt amid the unpredictability of 2020.

Oct. 7, 2021

Boston Scientific inks $1.75B deal for Baylis, biggest in string of M&A

SVB Leerink analysts wrote the acquisition will add needed support in electrophysiology and structural heart, two of the highest growth markets within cardiology. It's the medtech's fifth acquisition of 2021.

By Ricky Zipp • Oct. 6, 2021

Digital health funding shatters record again with $21.3B so far this year

This year, mental health is the top funded clinical indication with $3.1 billion raised, followed by digital health tools for managing cardiovascular disease, diabetes, primary care and oncology.

By Hailey Mensik • Oct. 5, 2021

Amid pandemic, medtech R&D, merger activity jumped: EY report

Research and development spending at pure-play medtechs rose to a level last seen before the 2007-2008 financial crisis.

By Nick Paul Taylor • Sept. 27, 2021

GE Healthcare to buy BK Medical for $1.45B

The deal is aimed at expansion beyond diagnostics into surgical and therapeutic interventions, with high-single-digit return on invested capital anticipated by year five, CEO Kieran Murphy said.

By Greg Slabodkin • Sept. 23, 2021

EU threatens Illumina for closing $8B Grail deal while still under review

The European Commission's warning of fines and other measures is another step in a saga that could run for years. If the bloc ultimately opposes the acquisition, the path forward will be through the courts.

By Nick Paul Taylor • Sept. 22, 2021

Boston Scientific to spend $269M for remaining stake of Devoro in latest deal

The medtech giant's 2021 M&A spree continues, following deals of $925 million for Preventice Solutions, $1.07 billion for Lumenis' surgical business and $295 million for cardiac ablation device maker Farapulse.

By Ricky Zipp • Sept. 21, 2021

Philip Morris takes control of Vectura amid pushback against acquisition

The tobacco giant has secured investor buy-in despite continued opposition from clinicians and reports that employees of inhaled medicine specialist Vectura are concerned about the change in ownership.

By Nick Paul Taylor • Sept. 17, 2021

Hillrom VP of connected care talks Baxter's $10.5B buy, digital health

The deal, medtech's largest of 2021, is driven by Hillrom's digital health presence. Trey Lauderdale, Hillrom vice president and general manager of care communications, says the Baxter acquisition is validation of their strategy.

By Greg Slabodkin • Sept. 16, 2021

Hong Kong-based Prenetics to go public in US as part of $1.25B SPAC merger

Prenetics, which is set to pocket $459 million through the deal, will use the money to step up its attack on markets targeted by companies including 23andMe, Exact Sciences and Invitae.

By Nick Paul Taylor • Sept. 16, 2021

Baxter's $10.5B Hillrom buy on track, deal to close by early 2022: CEO

Baxter CEO Joe Almeida said the standard U.S. antitrust waiting period expired with no second FTC information request. Other global regulatory hurdles remain and shareholders are set to vote on the deal on Dec. 2.

By Greg Slabodkin • Updated Oct. 28, 2021

Baxter in late-stage talks to buy Hillrom for about $10B: WSJ

A Baird analyst said he talked himself into backing a union given Hillrom's connected care push. However, J.P. Morgan analysts argued Baxter has a "tall order" convincing investors it's a "more strategic vs. financial" acquisition.

By Greg Slabodkin • Aug. 30, 2021

SPAC slashes value of LumiraDx merger by $2B on falling COVID-19 testing forecast

LumiraDx recently halved its full-year sales guidance after being buffeted by the same forces rocking larger COVID-19 test providers such as Abbott and Quidel.

By Nick Paul Taylor • Aug. 23, 2021

EU launches probe of Illumina decision to close Grail deal despite ongoing investigation

If the European Commission finds that Illumina breached a "standstill obligation" rule as part of this latest probe, the company could be fined up to 10% of its revenue.

By Nick Paul Taylor • Updated Aug. 20, 2021

Memic inks SPAC merger, lining up $360M to challenge Intuitive for robotic surgery market

The company is betting the small size of its device and potential to enable more hysterectomies to be done vaginally as differentiators that will enable it to grow sales to $136 million in 2025.

By Nick Paul Taylor • Aug. 16, 2021

Philip Morris buys developer of inhaled heart attack drug, ramping up push into healthcare

News of the takeover comes weeks after the tobacco company bought an oral drug delivery specialist and entered into a bidding war to buy inhaled medicine player Vectura. Health charities have pushed back against Philip Morris' foray.

By Nick Paul Taylor • Aug. 10, 2021

Medtronic to buy Intersect ENT in $1.1B deal targeting chronic rhinosinusitis market

Intersect ENT's implants, which deliver steroids to open sinus passageways, could position Medtronic to sell products for a condition affecting 35 million U.S. adults. 

By Greg Slabodkin • Aug. 6, 2021

FTC warns it may challenge deals later as it's hit by 'tidal wave' of merger filings

"Companies that choose to proceed with transactions that have not been fully investigated are doing so at their own risk," the regulator said.

By Samantha Liss • Aug. 5, 2021

Hillrom reverses course, will finalize $375M BardyDx acquisition

The decision ends a months-long fight by Hillrom to back out of the buy due to substantially reduced Medicare rate cuts for long-term cardiac monitoring. Hillrom expects the deal to close in the coming weeks.

By Ricky Zipp • Aug. 2, 2021

Talk of Baxter-Hillrom tie-up grows as both companies focus on connected care

Hillrom CEO John Groetelaars in a Friday earnings call highlighted the growing importance of connected care, the focus area of Baxter's current M&A strategy. A Baird analyst said it sounded like a non-specific defense of a deal.

By Nick Paul Taylor • Updated July 30, 2021

Illumina-Grail merger subject of in-depth EU antitrust probe

European officials opened a three-month investigation of the deal, valued up to $8 billion, due to concerns it may reduce competition in the emerging liquid biopsy market. Illumina vowed to press on.

By Nick Paul Taylor • July 23, 2021

PacBio inks $800M Omniome buyout to expand into short-read sequencing

The acquisition will give Pacific Biosciences access to early-stage cancer screening and recurrence monitoring markets. The bid comes 18 months after Illumina scrapped plans to acquire PacBio amid regulatory pushback.

By Nick Paul Taylor • July 21, 2021

Medtech M&A expected to be robust in second half after 2021 began with a flurry

Even after deals already eclipsed last year's numbers, analysts predict robust activity in particular among diagnostics companies flush with cash from 2020's COVID-19 test sales.

By Ricky Zipp • July 18, 2021