• Boston Scientific acquired London-based BTG plc (maker of products used in minimally-invasive procedures targeting cancer and vascular diseases, as well as specialty pharmaceuticals) for $4b. • 3M closed its $6.7b deal of Acelity, a developer of wound care and specialty surgical management products, in October 2019. • J&J’s Ethicon unit completed its $3.4b acquisition of Auris Health (developer of …
Robotics Remain an Active M&A Area
Earlier in 2019, Johnson & Johnson paid $3.4b (plus up to an additional $2.35b) for Auris Health, Inc., a maker of endoscopic robotic technologies. The Auris platform complements robotics currently in development for general surgery by Verb Surgical, a startup founded by J&J and Verily Life Sciences (an Alphabet unit), and for orthopedics by Orthotaxy, which was acquired by J&J …
FDA Grants Breakthrough Device Designation to Medtronic’s Minimally Invasive Valiant TAAA Stent Graft System
The new Valiant TAAA Stent Graft System is designed to repair a thoracoabdominal aortic aneurysm (TAAA). A TAAA causes swelling of the aorta, which extends from the chest into the abdomen. Commonly, TAAA affects the branch arteries supplying blood to various internal organs. The condition accounts for approximately 15% of all thoracic aneurysms. The standard of care for TAAA is …
Celgene to Sell Blockbuster Drug to Amgen for $13.4b
Amgen Inc., a $23b multinational biopharmaceutical company is buying the worldwide rights to Otezla® from Celgene Corporation, a $13b developer of therapies for cancer and inflammatory diseases, for $13.4b. The acquisition complements Amgen’s existing inflammation franchise of innovative biologics and biosimilar products. Otezla® (apremilast) is the only oral, non-biologic treatment for psoriasis and psoriatic arthritis. It is approved in more …
Exact Sciences to buy Genomic Health for $2.8b
Exact Sciences Corp, a $454m molecular diagnostics company is acquiring Genomic Health Inc, a $394m cancer detection company for $2.8b. The deal joins two of the strong brands in molecular and cancer diagnostics, Cologuard® and Oncotype DX®, providing a strong platform for continued growth; and forms a first class commercial, research, development and clinical organization, with enhanced scale and scope …
Cantel Medical to Acquire Hu-Friedy for $725m
Cantel Medical Corp., a $880m manufacturer of medical equipment announced plans to buy Hu-Friedy Mfg. Co., a maker of dental instruments and reprocessing equipment for $725m. The deal helps build out a portfolio of infection prevention solutions including consumables, instrumentation and workflow management programs for dental practitioners while also complementing Cantel’s device reprocessing offerings in both the medical and dental …
AbbVie to Buy Allergan for $63b
AbbVie Inc., a $32.75b pharmaceutical company agreed to buy Allergan plc, an Ireland-based $15.79b pharmaceutical company for $63b. The latest merger in an industry where huge premiums are being paid to incease growth prospects. The deal gives AbbVie Botox, but doesn’t involve a huge pipeline of blockbuster drugs. Allergan does diversify AbbVie away from Humira, the rheumatoid arthritis injection that …
The Walden Group advises Riverpoint Medical, LLC in its Partnership with Arlington Capital Partners and Helps Guide the Transaction to a Successful Closing
The Walden Group, Inc. is pleased to announce that Arlington Capital Partners has acquired a majority interest in its client, Riverpoint Medical, LLC. Riverpoint is a major developer and manufacturer of advanced bioabsorbable and non-absorbable sutures; high-strength fiber implantables for sports medicine surgery; patented cordless surgeon headlights; and brachytherapy (cancer) devices. Walden was engaged as Riverpoint’s M&A advisor and helped …
FDA Bans Sales of Transvaginal Mesh
The FDA has ordered the two remaining medical device companies, Boston Scientific and Coloplast, selling surgical mesh for the repair of pelvic organ prolapse to stop all sales and distribution in the US. The FDA said the two companies did not demonstrate a reasonable assurance of safety and effectiveness of these devices in their premarket applications. Both companies are expected …
Breakthroughs in Developing Artificial Hearts
Scientists in Israel have printed the world’s first 3D heart made of human tissue and biological molecules. Using tissues from the patient to make a personalized “ink,” a specialized printer was used to produce a working, pumping human heart complete with blood vessels. Because the engineered heart is made of the patient’s own tissues, transplanting the printed organ should keep …