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June 17, 2022
2 Min Read
Philip’s massive recall on ventilators and sleep apnea devices last year was ResMed's gain as it created “unlimited demand” for ResMed’s sleep apnea machines. Now the company is putting some of that extra capital into a $1 billion M&A. The company plans to acquire Medifox Dan, a fast-growing German healthcare software company. The deal is expected to expand ResMed’s SaaS business portfolio outside the United States and strengthen its position in healthcare software solutions for lower-cost and lower-acuity care.
After an acquisitive 2021, Boston Scientific has been relatively quiet this year on the M&A front. However, the Marlborough, MA-based company just announced an agreement to buy a majority stake (about 64%) in M.I. Tech. The deal is valued at about $230 million at current exchange rates. Based in Korea, M.I. Tech makes medical devices for endoscopic and urologic procedures. The company also developed the Hanarostent technology, a family of conformable, non-vascular, self-expanding metal stents, which Boston Scientific has distributed in Japan since 2015.
OrthoPediatrics, a company recently identified as one of the 25 most attractive medtech M&A targets, has inked a $33 million deal to acquire Pega Medical. Both companies are focused on developing orthopedic solutions for pediatric patients. Ryan Zimmerman, a medtech analyst at BTIG, said the deal would not only bolster OrthoPediatrics' growth, but would serve as a defensive acquisition that prevents others in the space from gaining scale. The deal, which is expected to close within the next few weeks, would be comprised of $31 million in cash and $2 million in stock.
And in case you missed our last Medtech in a Minute report...
BD and CerTest BioTec are teaming up to develop a molecular diagnostic test for the Monkeypox virus. The assay will use the BD MAX open system reagent suite to validate the CerTest Viasure Monkeypox CE/IVD molecular test on the BD MAX System. The assay will be available for BD MAX users and may help advance understanding of the global spread of the disease.
Illumina has cybersecurity vulnerabilities in some of the next generation sequencing software for its instruments, according to FDA. The agency released a notice June 2 about the affected software, which includes NextSeq 550Dx, the MiSeqDx, the NextSeq 500, NextSeq 550, MiSeq, iSeq, and MiniSeq. FDA said the cybersecurity vulnerability affects the Local Run Manager (LRM) software and an unauthorized user could exploit the vulnerability by: Taking control of the instrument remotely; operating the system to alter settings, configurations, software, or data on the instrument or a customer’s network; or impacting patient test results in the instruments intended for clinical diagnosis, including causing the instruments to provide no results or incorrect results, altered results, or a potential data breach.
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