After weeks of heated rumors, Baxter International Inc. and Hillrom Holdings Inc. reported they have reached terms on a blockbuster deal. Baxter will acquire Hillrom for $156 per share in cash, giving the transaction an equity value of $10.5 billion and a total enterprise value of $12.4 billion, after factoring in the assumption of debt. The deal is expected to close in early 2022. The acquisition continues the fast and furious pace of med-tech acquisitions in 2021, a sharp change from the lethargic deal flow seen in 2020. So far, the sector has seen 407 transactions this year, more than four times the 97 posted in the pharma segment. Read More
Health-tech startup Doctor Anywhere Ltd. (DA) has raised $88 million in series C fundraising, as the telehealth sector continues to be attractive for investors. The round is one of the largest private investments ever raised by a Southeast Asian digital health company and was led by growth equity investor Asia Partners. Novo Holdings, Philips, OSK-SBI Venture Partners, EDBI, Square Peg, IHH Healthcare, Kamet Capital and Pavilion Capital also participated. Read More
Rokit Healthcare Inc. received approval from South Korea’s Ministry of Food and Drug Safety (MFDS) for Dfurege, its artificial organ platform to treat diabetic foot ulcers. “We hope that having a South Korean approval for this platform will be a boost for our planned IPO,” Seok Hwan You, CEO at Rokit, told BioWorld. Read More
Abbott Laboratories, has acquired Walk Vascular LLC, a deal that brings two devices for peripheral thrombectomy to the Abbott portfolio for peripheral artery disease (PAD). Walk’s two Jeti peripheral thrombectomy devices are cleared in the U.S. for break-up and removal of soft emboli and thrombus, but are in trial for deep-vein thrombosis (DVT) as well, suggesting that Abbott Park, Ill.-based Abbott has availed itself of a technology that could take a big bite out of one of the deadliest and costliest of all circulatory system pathologies. Read More
Aatru Medical LLC has received FDA 510(k) class II clearance for a platform that turns its back on electro-mechanical components in other negative pressure wound therapy (NPWT) systems. Deployed for closed surgical incision applications, the Negative Pressure Surgical Incision Management System (NPSIMS) is a single-use, disposable platform that could help reduce the 20% of hospital infections attributed to surgical site infections (SSI). Read More
Even as the Biden administration pushes for drug imports from Canada as a way to help curb U.S. prescription drug prices, Canada is doubling down on its efforts to protect its supply of drugs and medical devices. Read More
New hires and promotions in the med-tech industry, including: Check-Cap, Femasys, Neuromod Devices, Orasure Technologies, Polarityte, Think Surgical, Vitrolife. Read More
Med-tech happenings, including deals and partnerships, grants, preclinical data and other news in brief: Amydis, Elekta, Element Materials Technology, Impact Analytical, Intelivation Technologies, Osso VR, Özyürek Mümessillik ve Dış Ticaret, Quidel, Somalogic, Thermo Fisher Scientific, Todos Medical. Read More
