Alere finally bags Axis-Shield with slightly increased offer
This article was originally published in Clinica
After three months of dogged pursuit, Alere looks to have finally succeeded in its takeover bid for Axis-Shield by sweetening its offer price to 470p per share. The offer may only be 10p more than the original proposal of 460p made in July, and a far cry from the 550p-per-share figure touted by analysts as a reasonable price for the Anglo-Nordic firm, but Axis-Shield's board of directors has given the £235m ($364m) all-cash deal their seal of approval nonetheless.
You may also be interested in...
Hindsight 20/20 is a Q&A feature where medtech industry veterans share their long experience taking diverse businesses – be they start-ups or publicly-listed entities – from strength to strength and navigating through times of crises. In this instalment, Ian Gilham, the former CEO of Anglo-Nordic IVD company Axis-Shield who oversaw its acquisition by Alere, discusses what to look out for should you find yourself with an acquisition offer on the table and why the success of a business boils down to the team – not the individual – running it.
Israel is well-known as a medtech hot-spot, with a focus on academic research and strong government support helping the country punch well above its weight when it comes to innovative devices.
St Jude Medical had a heavy focus on its intravascular imaging offering at this year’s EuroPCR meeting, presenting data supporting its optical coherence tomography (OCT) technology. OCT provides intravascular images to help assess culprit lesions, which can improve stent selection and deployment, according to St Jude.