Deals and Financings
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Boston Scientific Expects Up To $40M Impact In Q1 From Coronavirus Outbreak; 10%-12% Revenue Increase For 2020
Boston Scientific said in an earnings call it expects the coronavirus outbreak may lead to a $10m to $40m loss in first-quarter sales as a result of lower procedures volumes and disrupted supply chains in China. For the fourth quarter, Boston Scientific reported $2.9bn in sales.
Latest From Deals
At the LSX World Congress in London, leaders from Medtronic, Johnson & Johnson and Olympus discussed the evolving medtech mergers and acquisitions landscape, the big opportunity in robotic surgery and the impacts on innovation of the forthcoming EU Medical Device Regulation.
More investor suits were brought against life sciences companies in 2019 than in any of the past five years, according to a new report from law firm Dechert LLP. The increase continues a trend that has seen the number of such suits more than double since 2014.
2019 was a robust year for device fundraising and the trend will continue this year according to Nooman Haque, managing director of life sciences and healthcare at Silicon Valley Bank’s UK branch. However, medtech companies without a data proposition may find themselves struggling to compete.
Smith & Nephew has acquired Tusker Medical for an undisclosed price. The acquisition comes just months after Tusker’s Tula system was approved by the FDA as a breakthrough device.
Illumina Inc. has agreed to pay $98m to terminate its merger agreement with Pacific Biosciences of California Inc. following opposition from antitrust regulators in the US and UK. See what Illumina CEO Francis deSouza said about it here.
Illumina had planned to acquire Pacific Biosciences to add the company's “long-read” gene sequencing systems to Illumina's own range of "short-read" technologies. However, the UK’s Competition and Markets Authority and the US Federal Trade Commission concluded that the deal would significantly reduce competition in the DNA sequencing market.
Laborie Medical Technologies has inked a $525m deal to buy obstetrics device maker Clinical Innovations. The acquisition adds a suite of neonatal and fetal care devices to Laborie’s existing obstetrics portfolio.
Johnson & Johnson is acquiring the remaining stake in Verb Surgical from Verily following a four-year partnership. The transaction is expected to close in the first half of 2020.
FujiFilm has signed an agreement to to buy Hitachi’s Diagnostic Imaging Business for $1.63bn to position itself among the top diagnostic imaging heavyweights.
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