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Deals and Financings
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The bull run in medtech venture financing activity continued in July, with deal volume going up once again from the previous month. Deal value was also solid, boosted by a number of sizeable rounds that helped lift the total amount of venture dollars raised this year to date to $3.88bn. Barring the possibility of a sudden drought in the VC financing landscape in the next few months, 2017 should be in a good position to beat 2016 in total deal value.
Latest From Deals
In a move to expand its dialysis empire into the growing home hemodialysis and critical care markets, Fresenius Medical Care has inked a $2bn deal to acquire NxStage Medical.
The summer season is proving to be a hot one for medtech M&A activity, with another busy month of deal-making in July. Twenty-five deals were announced and closed during the month, surpassing June's deal count and making it the month with the highest M&A activity to date.
Genetic information specialist Invitae is spreading into the reproductive health market with the proposed acquisition of two genetic testing companies that are focused on this area. The addition of Good Start Genetics and Combinatrix will enable Invitae to gain a foothold in the lucrative perinatal. Prenatal and neonatal testing markets. These deals bring the total number of acquisitions made by Invitae to three this year so far.
Anti-obesity device company Apollo Endosurgery has closed a $36m share offering.
Anti-obesity device company Apollo Endosurgery is looking to net around $31m through a sale of 5.7 million shares. The Austin, Texas-based company has seen slow sales in the last couple of years and is planning to use the funds to boost adoption of its endo-bariatric products, which includes the Orbera intragastric balloon and the Lap-Band gastric band which it inherited through acquiring Allergan’s obesity intervention division in 2013.
Alere is selling its Epocal point-of-care blood diagnostics subsidiary to Siemens Healthineers to comply with US antitrust requirements in advance of its pending acquisition by Abbott. Siemens plans to integrate Epocal's epoc blood analysis system with its digital platforms and its existing point-of-care diagnostics.
The recent acquisition of the Emergo medtech consultancy by Underwriters Laboratory has raised a few eyebrows in the sector. Can a notified body and consultancy co-exist without conflicts of interest?
In acquiring CellRight Technologies, a young but already profitable US company specializing in regenerative bone technologies, UK regenerative medicine firm Tissue Regenix will significantly bulk up its portfolio and accelerate its global commercial growth plans.
The deal, subject to the completion of Abbott's planned acquisition of Alere, includes the Triage MeterPro cardiovascular and toxicology businesses, as well as the Triage BNP business. These additions will diversify Quidel's portfolio of rapid diagnostic products for critical care settings and give it a stronger presence in the point-of-care market.
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