Deals and Financings
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November may have had the lowest deal volume of the year to date, but five hefty fundraisings pushed the total takings of the first 11 months of 2017 to more than $5.9bn. With one more month to go, will 2017 succeed in surpassing $6bn in total deal value, and claim the title of most bountiful year since 2013?
Latest From Deals
Siemens Healthineers has signed an agreement to acquire Luxembourg-based Fast Track Diagnostics (FTD) the developer of diagnostics that can distinguish between viral, bacterial, or other infections in one test. The deal comes as Siemens is shaping up to float Healthineers, as an independently publicly-listed company.
On this week's podcast, we discuss our latest MTI 100 rankings, providing a view on top revenue-getters in the medtech space, and we look at issues that are driving up and down movements on the list.
Edwards Lifesciences exercised a 2015 option to buy Harpoon, a spin-off from the University of Maryland's School of Medicine, for $100m up-front and up to $150m more in milestones, to add Harpoon's beating-heart mitral valve surgery technology to its growing pipeline of transcatheter and surgical mitral valve repair and replacement devices. The deal also validates the investing approach of Epidarex Capital, one of Harpoon's early investors, which looks for early-stage medtech opportunities in the Mid-Atlantic states.
The orthopedic giant is acquiring Entellus Medical for $24.00 per share, adding to its ear, nose and throat device portfolio with Entellus platforms including XprESS multi-sinus dilation system and the Latera absorbable nasal implant.
M&A activity tumbled in November after October's big boom. Nine deals were recorded on Medtech Insight's M&A Deal Tracker, repeating the low deal count seen in the same period last year. However, the month saw a handful of notable deals, including Philips' eighth acquisition of the year.
The pharmacy retail chain and drug distributor will buy the insurer for $69bn in a merger to build what the companies say will be a new, more affordable health-care concept.
Philips has made its eighth acquisition this year to date with the addition of US start-up Analytical Informatics to its radiology business.
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.
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