In keeping with the trend in med tech to return to basics, Becton, Dickinson and Co. plans to split off its biosciences and diagnostic solutions unit to create two pure-play companies. The ‘New BD’ or RemainCo. will be a focused medical technology company that will include the current company’s medication delivery, specimen management, patient monitoring, pharmaceutical systems, urology, critical care, peripheral intervention and surgery businesses.
The fact that both the U.S. Federal Trade Commission and the Department of Justice have oversight of mergers and acquisitions is something of a regulatory oddity. But David Balto, an attorney specializing on antitrust matters, told BioWorld that this may change in 2025 thanks to support for such a move from both Congress and the White House.
Nevro Corp. retained advisors to explore strategic alternatives, including a possible sale of the business or acquisitions that could shift its focus to earlier points in the pain management process. The spinal cord stimulator company faces increased competition in its core market.
Life science companies and the Office of the U.S. Trade Representative have not always seen eye to eye on issues such as compulsory licensing, but industry might be supportive of a remark by U.S. Trade Representative Katherine Tai about companies that are provided with anticompetitive breathing by their host governments with noticeable anticompetitive effect.
Med-tech deal value in February jumped to $255.61 million, an increase of 137.23% from the $107.75 million in deals from January, yet below the 2023 monthly average of $886.13 million. On the M&A front, med-tech transactions hit their lowest point since May 2019, totaling only $16 million.
Haemonetics Corp. appears ready to make a bit of a retro investment, as it entered into a definitive agreement to acquire Advanced Cooling Therapy Inc. (dba Attune Medical) for $160 million at closing plus undisclosed additional contingent payments. Attune manufactures the U.S. FDA-cleared Ensoetm device, which cools the esophagus during radiofrequency cardiac ablation procedures, a treatment for atrial fibrillation whose days appeared numbered.
South Korea’s Cell & Growth Factor Biotechnology Co. Ltd. (CG Bio) became the largest shareholder of Busan-based Inosys Korea after claiming a 34.7% stake in the embattled orthopedic implant med-tech firm.
Continuing its aggressive buying spree, Bruker Corp. entered into a definitive share purchase agreement with Tecfin S.à r.l. to acquire molecular diagnostics (MDx) company Elitechgroup SAS for €870 million (US$943.5 million), excluding the Elitech clinical chemistry business. The deal is expected to close in the second quarter of 2024 and will be funded with a mix of cash on hand and debt financing.
Zimmer Biomet Holdings Inc.’s Rosa robotics surgical assistant snapped up its fourth application with the U.S. FDA’s 510(k) clearance for use in shoulder replacement surgery. Over the past five years, the system has built a portfolio that includes partial and total knee replacement and total hip replacement.
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