New Investment Firm CMI Seeks Out Surgical Device, Test Makers
This article was originally published in The Gray Sheet
Executive Summary
Acquisition of in vitro diagnostic and surgical device companies will be the primary focus of newly-formed private investment firm Constitution Medical Investors, headed by former Cytyc execs Patrick Sullivan and Daniel Levangie
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Acquisitions In Brief
ConvaTec poised to combine with Unomedical: Ostomy and wound care device business ConvaTec, which is being acquired by private equity firms Nordic Capital Fund VII and Avista Capital Partners from Bristol-Myers Squibb under a May 2 deal, will be combined with Danish single-use medical device maker Unomedical, currently owned by Nordic Capital Fund IV, after the ConvaTec deal closes in the third quarter, the investor groups announce June 27. The combination will enable Unomedical to benefit from Skillman, N.J.-based ConvaTec's "global presence and size," and will continue to be known as ConvaTec, the firms state. ConvaTec has annual sales of $1.15 billion, while Unomedical has revenues of about $418 million, based on current exchange rates. Bristol is sharpening its pharma focus (1"The Gray Sheet" May 5, 2008, In Brief)
Hologic/Cytyc Merger Combines Diverse Women’s Health Device Portfolios
The combination of mammography device maker Hologic and cervical cancer test firm Cytyc will create a women's health powerhouse with $1.44 billion in combined annual revenues
Xbrane Assembles The Troops As FDA Says No To Lucentis Biosimilar
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