Teleflex Adds Minimally Invasive BPH System With NeoTract Buy
Teleflex is forking out over $1bn for privately held NeoTract. The latter has seen its revenues grow rapidly due to market enthusiasm for its UroLift system for treating lower urinary tract symptoms related to benign prostatic hyperplasia.
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Third-quarter device financing at $2.38 billion – almost half of that amount from CooperSurgical's $1.1 billion bridge loan – was double the Q2 total, while device acquisitions showed a steep decrease at $3.38 billion versus Q2's $33.4 billion. Diagnostics fundraising also was up in the third quarter, reaching $2.4 billion (a 133% increase over Q2) mostly from Thermo Fisher Scientific's $1.5 billion follow-on offering, which accounted for 63% of the total. In line with the previous quarter's $1.7 billion in M&A, Q3 diagnostics acquisitions had an aggregate value of $1.8 billion, led by Konica Minolta's $1 billion buy of Ambry Genetics.
The purchase price of $56 a share in cash is a modest 16% premium over Vascular Solutions' 90-day average price. Vascular Solutions' CEO says uncertainty about the future leadership of the company compelled it to consider acquisition offers.
Device Week, 17 January 2020 – FDA's Amy Abernethy Describes Medtech's Future; Researchers Want More Oversight Of Robotic Surgery
In this edition of Device Week, Medtech Insight's Marion Webb discusses her experiences at the recent Consumer Electronics Show in Las Vegas, including her interview with Amy Abernethy, who is the US Food and Drug Administration's principal deputy commissioner. Deputy editor Reed Miller discusses a recent study from the University of Michigan that suggests the growth of robotic-assisted surgery may be outpacing the evidence to support that technology.