A 2021 rumor that Globus Medical and NuVasive were trying to reach a deal has become reality in 2023. The companies announced plans Thursday to merge in an all-stock transaction that will create the second largest player in the $13 billion spine market behind Medtronic. It remains to be seen if the proposed merger raises any anti-trust concerns, but company leaders say their lawyers are reviewing everything.
Abbott has agreed to acquire Cardiovascular Systems, a company that has long been considered one of the most attractive medtech M&A targets. But the pending acquisition is just one of a flurry of deals announced this week. Abbott agreed to pay $20 a share for Cardiovascular Systems, valuing the deal at $890 million. Cardiovascular Systems is best known for its orbital atherectomy systems in treating peripheral and coronary artery disease, competing with, or complementing other approaches like angioplasty and stenting.
GE HealthCare has been independent for less than two months and is already on its second deal in 2023. On Thursday, the company said it agreed to acquire Caption Health, a private company that specializes in using artificial intelligence to assist in conducting ultrasound scans.
And in case you missed our last Medtech in a Minute report...
GE HealthCare's first earnings call as a solo company gave investors many reasons to be confident in the company's growth outlook for 2023. The Chicago, IL-based company, which completed its spinout from General Electric in early January, expects to see between 5% and 7% growth this year.
Most of the large-cap medtech companies like GE HealthCare, Stryker, and Abbott are at least cautiously optimistic that supply chain pressures are beginning to ease. However, at least one big medtech company is leaning conservatively and expecting supply chain issues in 2023 to mirror that of 2022.
Expectations for a next-gen multiport robotic system from Intuitive Surgical have been building for multiple quarters. But instead of confirming expectations, Intuitive told investors last week that a next-generation multiport system will not be launched in 2023. The news left analysts scratching their heads and tanked the company's shares.