M&A (Merger & Acquisition) activity slows, but there's no stopping the big spenders
This article was originally published in Clinica
Medical device and diagnostics companies pledged around $16.5 billion on acquisitions last year. Deals worth a further $2 billion were proposed, but collapsed at various stages. The total, which does not include deals where financial details were not disclosed, is down from the previous year's $18 billion, but impressive nonetheless, Imogen Daulby reports The big companies kept on spending. Tyco International lived up to its acquisitive reputation, propelling itself up the medical device rankings with the $4.2 billion purchase of Mallinckrodt to complement recent shopping trips. Philips spent $1.2 billion for a 60% stake in medical transcription company Medquist, before finishing the year with a flourish by buying ADAC and Agilent Technologies for a total of over $2.1 billion in one week in November.