Boston Scientific is whittling down the non-device portions of its BTG acquisition with another divestiture. The company agreed to sell the BTG Specialty Pharmaceuticals business for $800 million in cash to Stark International Lux, and SERB SAS. The deal is expected to close in the first half of 2021 and includes the transfer of about five facilities and about 280 employees worldwide.
LivaNova is selling its heart valve business to Gyrus Capital investment firm for $73 million. The divestiture is an attempt to bring LivaNova’s focus back squarely on its neuromodulation and cardiovascular businesses, and comes at a time when the company has been urged to make some massive changes. The deal is set to close in the first half of 2021.
Zimmer Biomet has been quietly reving up its M&A engine in the past month, most recently with a deal to acquire A&E Medical for up to $250 million in cash. The company agreed to pay $150 million at closing and $100 million in cash payable in 2021. A&E Medical has a portfolio of sternal closure devices – including sternal sutures, cable systems, and rigid fixation – along with a range of single-use complementary temporary pacing wire and surgical punch products. While it hasn't drummed up a lot of fanfare over its recent M&A activity, this deal acqually represents Zimmer Biomet's third recent acquisition. During its third-quarter earnings call, the company noted the acquisition of both Incisive and Relign for $80 million upfront and another $98 million in deferred and milestone payments.
And in case you missed our other recent Medtech in a Minute reports ...
Boston Scientific is retiring its entire Lotus transcatheter aortic valve replacement (TAVR) platform, citing complexities associated with the product delivery system. There is no safety issue for patients who currently have an implanted Lotus Edge valve, and the company emphasized that the recall is related solely to the delivery system. The company says it will now focus on its Acurate neo2 TAVR, its Sentinel embolic protection device, and other high-growth areas of its portfolio. It should be noted, however, that the Acurate neo2 TAVR system isn't expected to reach the U.S. market until 2024.
J&J has tapped an all-star team to develop its general surgical robotics platform, Ottava, which the company unveiled Thursday. The platform incorporates newer robotic technology as well as the integration of data capabilities intended to create an ecosystem best described as digital surgery. MD+DI spoke with Frederic Moll, MD, in advance of the big reveal about Ottava, and where the field that he helped pioneer 25 years ago is at today.
"What I think is most exciting about this phase of robotic surgery is it's not just about the hardware," Moll said. "It's the software, it's the data, it's the ability to learn and improve in ways other than having a mentor stand over your shoulder and tell you what you did wrong. There is just enormous potential in that."
Increased interest in telehealth helped Eko, a digital health specialist, raise $65 million in a series C round. The company has developed a platform of telehealth and AI algorithms for disease screening, and to launch a monitoring program for cardiopulmonary patients at home. Proceeds from the financing will be used to expand in-clinic use of the company’s platform of telehealth and AI algorithms for disease screening, and to launch a monitoring program for cardiopulmonary patients at home.
Stryker has closed on its $4 billion acquisition of Wright Medical. The move comes about a year after Kalamazoo, MI-based Stryker first announced it would acquire the orthopedics company. The rationale behind the deal was that it would help strengthen Stryker's position in the fast-growing trauma & extremities segment. However – the acquisition hit a snag after the Federal Trade Commission expressed anti-trust law concerns. To satisfy the FTC's concerns, both companies agreed to divest all assets related to finger joint implants and STAR total ankle replacements. The companies agreed to sell these assets to Carlsbad, CA-based DJO Global.