Financial Times reports that Embecta (Nasdaq:EMBC), the former diabetes unit at BD, hired advisers to look into a possible sale of the company. Shares of EMBC ticked up 16.5% to $15.34 apiece in early-morning trading today. The company has operated as a standalone, publicly-traded company since April 2022, when it completed its spin-off from BD. […]
Mergers & Acquisitions
Why Abbott acquired Bigfoot Biomedical and its smart insulin pens
When Abbott (NYSE:ABT) acquired Bigfoot Biomedical in September 2023, it took the final step to build upon a multi-year relationship. The medtech giant had a long-term, vested interest in Bigfoot, a maker of a smart insulin management system. It dates back to 2017, with Abbott even leading a financing round for Bigfoot in 2020. “We […]
Surmodics to be acquired by private equity firm for $627M
Surmodics (Nasdaq:SRDX) announced today that it agreed to be acquired by GTCR, a private equity firm with healthcare interests. Eden Prairie, Minnesota-based Surmodics develops a range of technologies, including drug-coated balloons and thrombectomy systems. Its SurVeil DCB received a long-awaited FDA approval in June 2023. The company also reported successful early clinical use of its […]
Ypsomed sells pen needle, blood glucose monitor business to focus on insulin pump
Ypsomed announced today that it agreed to sell its pen needle and blood glucose monitoring (BGM) businesses to Medical Technology and Devices (MTD). With the transfer of these businesses, Ypsomed plans to focus its diabetes care business on insulin pumps. Specifically, it looks to the further development and marketing of the mylife Loop automated insulin […]
Kindeva Drug Delivery acquires nasal spray company Summit Biosciences
Kindeva Drug Delivery announced today that it acquired Summit Biosciences, an intranasal drug-delivery company. Summit, a drug delivery CDMO, brings a track record of innovation in the unit dose nasal spray market. Kindeva believes the acquisition enhances its existing drug delivery capabilities by adding a new platform. This new platform enhances its ability to serve […]
Report: There’s still ‘mutual interest’ with EOFlow, Medtronic despite deal falling through
Business Korea reports that EOFlow CEO Kim Jae-jin is leaving the door open with regard to the company’s collapsed deal with Medtronic (NYSE:MDT). Medtronic announced this week that it terminated its $738 million agreement to acquire EOFlow, a maker of insulin patch pumps. The medtech giant cited “multiple breaches” of terms in the agreement as […]
Medtronic nixes $738M deal for insulin patch pump maker EOFlow
Medtronic (NYSE:MDT) filed a Form 8K with the SEC today stating that it terminated its agreement to buy EOFlow. The medtech giant struck a $738 million deal to acquire the Seongnam, South Korea-based insulin patch pump maker in May. EOFlow develops the EOPatch — a tubeless, wearable and fully disposable insulin delivery device. Medtronic’s SEC filing […]
Laborie acquires drug-coated balloon maker Urotronic
Laborie Medical Technologies announced today that it completed the acquisition of drug-coated balloon developer Urotronic. The companies struck an agreement last month for Laborie to buy Urotronic for up to $600 million. Urotronic developed the Optilume DCB used in interventional urology procedures. It treats urethral strictures and benign prostatic hyperplasia (BPH) or enlarged prostate conditions. […]
Novo Nordisk acquires all shares of drug delivery device maker Biocorp
Novo Nordisk today officially acquired 100% of the shares of Biocorp, the France-based drug delivery device maker’s CEO announced. Biocorp designs, develops and manufactures drug delivery systems and medical devices. Its offerings include Mallya, a Bluetooth-enabled smart add-on device for pen injectors. The Mallya smart sensor attaches directly to insulin pen injectors to make them […]
Cordis acquires drug-eluting balloon maker MedAlliance for up to $1.135B
MedAlliance announced today that Cordis acquired it for a total consideration that could reach up to $1.135 billion. The companies initially announced the planned deal in October of last year. Cordis, which develops interventional cardiovascular and endovascular technologies, made a $35 million investment last year. Its upfront closing payment totals $200 million, with achievement milestones […]
