Deals and Financings
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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.
Latest From Deals
Some two months after disclosing its intention to cast off its struggling cardiac rhythm management unit, LivaNova has struck a deal to sell the business to its Chinese joint venture partner MicroPort Scientific at a discounted price of $190m.
Derived from Strategic Transactions, Informa’s premium source for tracking life-sciences deals, the bimonthly Pacts In Medtech column pulls up notable technology alliances, R&D partnerships and commercial collaborations. In this edition, we highlight industry pacts that were sealed in September and October 2017.
Total takings from October's venture financing deals may not have been the highest, but the $295m raised by the 20-plus transactions last month is enough for 2017 to trump 2016 in total deal value – with more room to widen the gap.
Recent speculation about Novartis' interest in nuclear medicine specialist AAA has been confirmed, after the pharma giant inked a deal worth $3.9bn to acquire the French firm. Integrating AAA would add to Novartis' expertise in diseases associated with neuroendocrine tumors and bring it a new technology platform for treating cancer.
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.
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.
Medtech M&A deal making has resumed the pace of activity seen before the brief surge in the summer. 17 M&A deals were announced and recorded on the Medtech Insight M&A deal tracker, one more than the previous month but included a few billion dollar transactions.
By acquiring Axela Inc, liquid biopsy specialist Angle PLC will now be able to pair the Canadian firm's gene expression measurement technology with its Parsortix circulating tumor cell harvesting system. Angle will finance this transaction with the proceeds it expects to raise from a proposed £12.2m share placement.
September benefitted from two nine-figure venture financing rounds, including a $250m round by consumer genetic test service provider 23andme. These bumper deals significantly boost the total takings in 2017 so far to the extent that the year looks likely to beat 2016.
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