M&A: Page 15
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LumiraDx lands on Nasdaq via SPAC with aim to undercut Abbott on price
The COVID-19 test maker hopes to generate enough capital to pursue a point-of-care testing opportunity it values at $76 billion. It has a ways to go to deliver.
By Nick Paul Taylor • April 8, 2021 -
Invitae inks $200M Genosity buyout, lands $1.2B investment to expand genetic testing
The medical genetics company expects Genosity’s capabilities to increase access to its cancer test and reduce turnaround time, while a sizable investment led by SoftBank will support growth initiatives.
By Nick Paul Taylor • April 6, 2021 -
Courtesy of Quest Diagnostics
Quest sells minority share of Q2 Solutions for $760M
IQVIA, which previously owned 60% of Q2 Solutions, will now become the sole owner of the clinical trials laboratory company. Quest and IQVIA established Q2 Solutions as a joint venture in 2015.
By Ricky Zipp • April 1, 2021 -
Roche to buy GenMark for $1.8B to add multiplex testing
The Swiss company said the deal will give it access to a novel technology for testing a range of pathogens with one patient sample. William Blair analysts expect “potentially intense bidding wars” in the sector in coming months.
By Greg Slabodkin • March 15, 2021 -
Cardiac wearables, iRhythm, under a cloud as reimbursement questions linger
“If this [Novitas Solutions] rate is not adjusted, these companies don’t make money and will be unlikely to provide the service,” Baird analyst Mike Polark said.
By Ricky Zipp • March 15, 2021 -
Cardinal Health sells troubled Cordis unit to private equity firm for $1B
Hellman & Friedman’s acquisition of the maker of interventional vascular technology follows Cardinal’s 2015 buy of Cordis from Johnson & Johnson for $1.9 billion.
By Greg Slabodkin • March 12, 2021 -
Colfax to split in 2, creating over $1B orthopaedic player
The split will create a medtech company with a portfolio of orthopaedic devices forecast to generate sales of around $1.4 billion this year. The move is expected to facilitate more M&A.
By Nick Paul Taylor • March 8, 2021 -
Warchests, distressed assets drive medtech M&A flurry early in 2021
The industry is averaging more than one $100 million-plus takeover a week, as the influx of COVID-19 test revenues and pressures on companies reliant on surgical procedures create buying opportunities.
By Nick Paul Taylor • March 5, 2021 -
Deep Dive
4 healthcare antitrust issues to watch
The FTC is looking to get more aggressive with anticompetitive tie-ups while states eye ways to beef up oversight. And if handed the reins of HHS, Xavier Becerra would likely put an antitrust lens to potential rules.
By Samantha Liss • March 4, 2021 -
Boston Scientific puts up $1B in cash to buy Lumenis surgical line from private equity
Wall Street analysts generally applauded the deal, which will see the medtech leader acquiring a portfolio of laser systems with potential to reach fast-growing markets like China.
By Ricky Zipp • Updated March 4, 2021 -
Agilent strikes $550M Resolution buyout to muscle in on liquid biopsy space
Analysts at Evercore ISI called the takeover of the company that competes with ArcherDX, Foundation Medicine and Guardant “extremely compelling,” calling it an attractive price to get into a fast-growing market.
By Nick Paul Taylor • March 3, 2021 -
Hillrom steps back from $375M BardyDx deal on reimbursement setback
The hospital products maker said a Medicare contractor’s unexpected drop in payment rates for BardyDx’s cardiac monitoring technology meant closing conditions for the transaction had not been satisfied.
By Susan Kelly • March 1, 2021 -
NuVasive buys Simplify Medical in play for $2.6B cervical spine market
The $150 million acquisition will add to the pandemic-related challenges for NuVasive in 2021, with investments to train surgeons and run clinical trials offsetting the low anticipated sales this year.
By Nick Paul Taylor • Feb. 26, 2021 -
Axonics adds incontinence device to portfolio in $200M Contura takeover
The targeted prescribers of Contura’s urethral bulking agent are the same physicians who use Axonics’ implantable sacral neuromodulation to treat urinary disorders. Analysts said the business logic seems sound.
By Nick Paul Taylor • Feb. 26, 2021 -
Exact Sciences-Guardant rivalry in colorectal testing market heats up
Exact bolstered its play for the residual disease and recurrence segment by striking a deal to buy Ashion Analytics, while Guardant disclosed availability of its liquid biopsy test for the same market.
By Nick Paul Taylor • Feb. 17, 2021 -
Courtesy of Qiagen
Qiagen shuns M&A that ‘dilutes’ its focus amid reports of Quidel merger
Qiagen’s CEO said his business development team is focused on bolt-on acquisitions that support and strengthen its operations in five target areas.
By Nick Paul Taylor • Feb. 10, 2021 -
Permission granted by Quidel Corporation
Report of Quidel-Qiagen tie-up makes ‘no sense,’ Wall Street analysts say
Bloomberg reported the two companies are in early discussions. But while one analyst said it was a “plausible, though far-fetched” combination to create a global diagnostics firm, several questioned the wisdom of a union.
By Greg Slabodkin • Feb. 9, 2021 -
Zimmer takes electives hit in Q4, to spin off spine, dental units
“There’s just no doubt that COVID, unfortunately, remains a challenge ... We’re seeing the pandemic pressure and the surges continue and, frankly, worsen across pretty much all of our regions and markets,” said CEO Bryan Hanson.
By Ricky Zipp • Feb. 5, 2021 -
PerkinElmer predicts sharp falloff in COVID-19 sales this year
In a relatively rare admission by a testing company, execs said they expect around 50% of 2021 coronavirus sales to come in the first quarter, beyond which vaccines are tipped to drive down demand.
By Nick Paul Taylor • Feb. 3, 2021 -
Deep Dive
3 big predictions for digital health in 2021
As tech and data sharing become more pervasive, healthcare will likely pivot to being more predictive and telehealth will evolve, giving rise to new modalities of care. This will force companies to invest more in cybersecurity.
By Rebecca Pifer • Jan. 29, 2021 -
Philips beats Q4 expectations as COVID-19 boosts connected care, slows procedures
The Dutch conglomerate will continue to be active on the M&A front, CEO Frans van Houten told investors, after striking two deals in the space over the past month worth more than $3.4 billion.
By Nick Paul Taylor • Jan. 25, 2021 -
Boston Scientific bets on cardiac wearables with $925M Preventice buy
The deal is the latest in the fast-growing space, coming on the heels of Hillrom’s $375 million BardyDx buy on Tuesday and Philips’ $2.8 billion purchase of BioTelemetry last month.
By Ricky Zipp • Jan. 21, 2021 -
Haemonetics inks $510M Cardiva takeover to expand hospital business
The blood products medtech contends the deal will strengthen its portfolio in interventional cardiology and electrophysiology markets.
By Nick Paul Taylor • Jan. 21, 2021 -
Hillrom makes cardiac monitoring play with $375M BardyDx buy
The deal fits Hillrom’s existing heart portfolio and efforts to connect devices to the internet, analysts said, but one raised concerns about Medicare reimbursement.
By Susan Kelly • Jan. 20, 2021 -
Thermo Fisher buys Mesa Biotech for $450M to bolster rapid point-of-care testing
The all-cash acquisition, which includes the potential for an additional $100 million upon completion of milestones, adds Mesa’s PCR test platform for SARS-CoV-2, influenza A and B, RSV and strep A to Thermo’s portfolio.
By Greg Slabodkin • Jan. 19, 2021
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