List of Medtech Divestitures Is Quickly Growing

LeMaitre Vascular is set to acquire Becton Dickinson’s Cardial business for about $2 million.

Omar Ford

October 25, 2018

1 Min Read
List of Medtech Divestitures Is Quickly Growing
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Sometimes it just comes down to finding the right fit. That seems to be the story in the medtech industry these days as companies are stepping up to acquire divested assets. The latest chapter in the divestitures story comes from Becton Dickinson & Co. The Franklin, Lakes, NJ-based company divested the assets of its Cardial business to LeMaitre Vascular for $2 million.

Cardial's product lines, including knitted and woven vascular grafts, valvulotomes and surgical glue, are now available through LeMaitre Vascular. Sales of the business during the latest 12-month period were €3.3 million, concentrated mostly in Europe.

LeMaitre Vascular said it expects the acquired business to contribute $0.3 million in sales and $1.6 million in operating income in 4Q18. The operating income contribution includes an estimated $1.7 million gain resulting from the excess of the value of the assets acquired over the purchase price.

In September, LeMaitre acquired the vascular clot management business of Applied Medical Resources Corp. for $14.2 million.

Other divestitures include Clearwater, FL-based Bovie Medical divesting its electrosurgical offerings to Specialty Surgical Instrumentation, a subsidiary of Symmetry Surgical, for $97 million.

Earlier this month, HJ Capital 1, the parent company of SeCQure Surgical, acquired the biosurgery business from Atrium’s owner, Getinge, for an undisclosed sum. Johnson & Johnson has also been through a string of divestitures.

About the Author

Omar Ford

Omar Ford is a veteran reporter in the field of medical technology and healthcare journalism. As Editor-in-Chief of MD+DI (Medical Device and Diagnostics Industry), a leading publication in the industry, Ford has established himself as an authoritative voice and a trusted source of information.

Ford, who has a bachelor's degree in print journalism from the University of South Carolina, has dedicated his career to reporting on the latest advancements and trends in the medical device and diagnostic sector.

During his tenure at MD+DI, Ford has covered a wide range of topics, including emerging medical technologies, regulatory developments, market trends, and the rise of artificial intelligence. He has interviewed influential leaders and key opinion leaders in the field, providing readers with valuable perspectives and expert analysis.

 

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