Article preview from Medtech Insight - April, 2012
Brief summaries of recent medtech market and industry developments. This month we cover Covidien’s continuing buying spree, and other medtech M&A.
Article preview from Medtech Insight - April, 2012
The only predictable part of Covidien PLC’s acquisition strategy is there’s no sign of it slowing down. For the past five years, since its spin-out from Tyco International Ltd., the multinational device company has spent close to $5 billion acquiring public and privately held device companies, with more than $1 billion of that being spent just over the past six months on privately held Barrx Medical Inc., Newport Medical Instruments Inc., Reverse Medical Corp., Oridion Systems Ltd., and superDimension Ltd.
The string of purchases bulked up every one of Covidien’s existing medical device businesses. For example, Covidien’s most recent acquisition of Oridion Systems, maker of products to measure patient breathing, will fit into its Oximetry and Monitoring business unit, which already had been bolstered by the past acquisitions of publicly traded Somanetics Corp. and Aspect Medical Systems Inc. Meanwhile, the purchases of VNUS Medical Technologies Inc. and ev3 Inc., with the latter deal accounting for $2.5 billion of the capital spent, have successfully brought the company into the vascular and neurovascular markets.
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Medtech Insight newsletter provides insights into the technology and market developments (devices, instrumentation, biomaterials, gene therapy, tissue engineering, etc.) impacting a wide range of surgical and non-surgical clinical practices.
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