M&A: Page 13
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Medtechs opened 2021 with a flurry of M&A and have not stopped spending since
With deals ranging from tuck-ins to multibillion-dollar takeovers, here's a roundup of the M&A spree so far this year after activity came to a near halt amid the unpredictability of 2020.
Oct. 7, 2021 -
Boston Scientific inks $1.75B deal for Baylis, biggest in string of M&A
SVB Leerink analysts wrote the acquisition will add needed support in electrophysiology and structural heart, two of the highest growth markets within cardiology. It's the medtech's fifth acquisition of 2021.
By Ricky Zipp • Oct. 6, 2021 -
Courtesy of Amwell
Digital health funding shatters record again with $21.3B so far this year
This year, mental health is the top funded clinical indication with $3.1 billion raised, followed by digital health tools for managing cardiovascular disease, diabetes, primary care and oncology.
By Hailey Mensik • Oct. 5, 2021 -
Amid pandemic, medtech R&D, merger activity jumped: EY report
Research and development spending at pure-play medtechs rose to a level last seen before the 2007-2008 financial crisis.
By Nick Paul Taylor • Sept. 27, 2021 -
GE Healthcare to buy BK Medical for $1.45B
The deal is aimed at expansion beyond diagnostics into surgical and therapeutic interventions, with high-single-digit return on invested capital anticipated by year five, CEO Kieran Murphy said.
By Greg Slabodkin • Sept. 23, 2021 -
EU threatens Illumina for closing $8B Grail deal while still under review
The European Commission's warning of fines and other measures is another step in a saga that could run for years. If the bloc ultimately opposes the acquisition, the path forward will be through the courts.
By Nick Paul Taylor • Sept. 22, 2021 -
Boston Scientific to spend $269M for remaining stake of Devoro in latest deal
The medtech giant's 2021 M&A spree continues, following deals of $925 million for Preventice Solutions, $1.07 billion for Lumenis' surgical business and $295 million for cardiac ablation device maker Farapulse.
By Ricky Zipp • Sept. 21, 2021 -
H. Armstrong Roberts via Getty Images
Philip Morris takes control of Vectura amid pushback against acquisition
The tobacco giant has secured investor buy-in despite continued opposition from clinicians and reports that employees of inhaled medicine specialist Vectura are concerned about the change in ownership.
By Nick Paul Taylor • Sept. 17, 2021 -
Win McNamee via Getty Images
Q&AHillrom VP of connected care talks Baxter's $10.5B buy, digital health
The deal, medtech's largest of 2021, is driven by Hillrom's digital health presence. Trey Lauderdale, Hillrom vice president and general manager of care communications, says the Baxter acquisition is validation of their strategy.
By Greg Slabodkin • Sept. 16, 2021 -
Hong Kong-based Prenetics to go public in US as part of $1.25B SPAC merger
Prenetics, which is set to pocket $459 million through the deal, will use the money to step up its attack on markets targeted by companies including 23andMe, Exact Sciences and Invitae.
By Nick Paul Taylor • Sept. 16, 2021 -
Baxter's $10.5B Hillrom buy on track, deal to close by early 2022: CEO
Baxter CEO Joe Almeida said the standard U.S. antitrust waiting period expired with no second FTC information request. Other global regulatory hurdles remain and shareholders are set to vote on the deal on Dec. 2.
By Greg Slabodkin • Updated Oct. 28, 2021 -
Baxter in late-stage talks to buy Hillrom for about $10B: WSJ
A Baird analyst said he talked himself into backing a union given Hillrom's connected care push. However, J.P. Morgan analysts argued Baxter has a "tall order" convincing investors it's a "more strategic vs. financial" acquisition.
By Greg Slabodkin • Aug. 30, 2021 -
SPAC slashes value of LumiraDx merger by $2B on falling COVID-19 testing forecast
LumiraDx recently halved its full-year sales guidance after being buffeted by the same forces rocking larger COVID-19 test providers such as Abbott and Quidel.
By Nick Paul Taylor • Aug. 23, 2021 -
EU launches probe of Illumina decision to close Grail deal despite ongoing investigation
If the European Commission finds that Illumina breached a "standstill obligation" rule as part of this latest probe, the company could be fined up to 10% of its revenue.
By Nick Paul Taylor • Updated Aug. 20, 2021 -
Kena Betancur via Getty Images
Memic inks SPAC merger, lining up $360M to challenge Intuitive for robotic surgery market
The company is betting the small size of its device and potential to enable more hysterectomies to be done vaginally as differentiators that will enable it to grow sales to $136 million in 2025.
By Nick Paul Taylor • Aug. 16, 2021 -
Philip Morris buys developer of inhaled heart attack drug, ramping up push into healthcare
News of the takeover comes weeks after the tobacco company bought an oral drug delivery specialist and entered into a bidding war to buy inhaled medicine player Vectura. Health charities have pushed back against Philip Morris' foray.
By Nick Paul Taylor • Aug. 10, 2021 -
Medtronic to buy Intersect ENT in $1.1B deal targeting chronic rhinosinusitis market
Intersect ENT's implants, which deliver steroids to open sinus passageways, could position Medtronic to sell products for a condition affecting 35 million U.S. adults.
By Greg Slabodkin • Aug. 6, 2021 -
Carol Highsmith. (2005). "Apex Bldg." [Photo]. Retrieved from Wikimedia Commons.
FTC warns it may challenge deals later as it's hit by 'tidal wave' of merger filings
"Companies that choose to proceed with transactions that have not been fully investigated are doing so at their own risk," the regulator said.
By Samantha Liss • Aug. 5, 2021 -
Hillrom reverses course, will finalize $375M BardyDx acquisition
The decision ends a months-long fight by Hillrom to back out of the buy due to substantially reduced Medicare rate cuts for long-term cardiac monitoring. Hillrom expects the deal to close in the coming weeks.
By Ricky Zipp • Aug. 2, 2021 -
Talk of Baxter-Hillrom tie-up grows as both companies focus on connected care
Hillrom CEO John Groetelaars in a Friday earnings call highlighted the growing importance of connected care, the focus area of Baxter's current M&A strategy. A Baird analyst said it sounded like a non-specific defense of a deal.
By Nick Paul Taylor • Updated July 30, 2021 -
Illumina-Grail merger subject of in-depth EU antitrust probe
European officials opened a three-month investigation of the deal, valued up to $8 billion, due to concerns it may reduce competition in the emerging liquid biopsy market. Illumina vowed to press on.
By Nick Paul Taylor • July 23, 2021 -
PacBio inks $800M Omniome buyout to expand into short-read sequencing
The acquisition will give Pacific Biosciences access to early-stage cancer screening and recurrence monitoring markets. The bid comes 18 months after Illumina scrapped plans to acquire PacBio amid regulatory pushback.
By Nick Paul Taylor • July 21, 2021 -
Deep Dive
Medtech M&A expected to be robust in second half after 2021 began with a flurry
Even after deals already eclipsed last year's numbers, analysts predict robust activity in particular among diagnostics companies flush with cash from 2020's COVID-19 test sales.
By Ricky Zipp • July 18, 2021 -
Joe Raedle via Getty Images
Hillrom ordered to complete BardyDx transaction by Delaware court
The court found recent Medicare rate cuts for long-term cardiac wearables did not qualify as a material adverse event, siding with Bardy Diagnostics. However, the judge did not grant BardyDx compensatory damages.
By Ricky Zipp • July 12, 2021 -
Mark Makela via Getty Images
Biden order takes aim at high cost of hearing aids, calls for OTC sales
The executive order issued Friday directs HHS to consider issuing proposed rules within 120 days for allowing hearing aids to be sold over the counter.
By Samantha Liss • Updated July 12, 2021
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