Stryker's Deal For Spine Device Maker Vexim Rounds Up Ortho M&A Trilogy
It's been a busy week for ortho M&A activity, with three key sector players cutting deals. Smith & Nephew's agreement to buy Rotation Medical kick-started the week, then two more deals followed in succession, with Exactech announcing it was to be acquired by private equity firm TPG Capital and Stryker saying it will acquire a majority control of Vexim, a French spinal device maker.
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French VC firm Truffle Capital has raised €250 million ($278m) for its new BioMedTech fund. The capital will be used to create 12 new medtech companies.
The medtech M&A deal count soared in October with a total of 30 deals announced and closed in the month. It was an especially busy month for the orthopedics sector, with a number of high profile deals inked.
Th UK firm is buying Rotation Medical and its regeneration technology for shoulder rotator cuff repair for $125m, plus milestones, to grow its sports-medicine portfolio. The deal comes amid rumors that Smith & Nephew could be positioning itself to be acquired.