New Acquisition And Positive Data Inflates Philips' Respiratory Biz
Philips has expanded its sleep and respiratory care unit with the acquisition of US firm Respiratory Technologies, Inc., which offers a noninvasive airway clearance solution for patients with chronic respiratory problems. Separately, as an additional boost to this business, a clinical study sponsored by the Dutch multinational gave further support for the combined used of home noninvasive ventilation with oxygen therapy to delay hospital readmissions in COPD patients.
You may also be interested in...
Device and diagnostics fundraising slumped in Q2, but there was a substantial uptick in M&A activity. Device financings totaled just slightly over half of the previous quarter, while acquisitions grew almost six-fold, thanks primarily to Becton Dickinson's $23.5 billion play for CR Bard. Financing in diagnostics slid to $1.03 billion, less than half of Q1, whereas the $1.7 billion in M&As (most of that from PerkinElmer's $1.3 billion buy of EuroImmun) was more than double Q1's aggregate.
Minimally invasive glaucoma surgery specialist Glaukos saw its stock leap 40% in the wake of a worldwide recall by much bigger rival Alcon of its CyPass microstent.
Roland Diggelmann will end his decade-long career at Roche Diagnostics at the end of September. The business's head of EMEA Michael Heuer will take Diggelmann's place while the search is on for his replacement.