December 9, 2021
While much focus has been placed on Boston Scientific's and Hologic's M&A streaks in 2021, BD has also been quite acquisitive this year. On Thursday, the company said it has acquired surgical sealant maker Tissuemed for an undisclosed sum.
The acquisition of Leeds, England-based Tissuemed expands BD's global offerings for surgeons outside of the United States. Tissuemed's lead product, Tissuepatch, is a sealant technology that bonds to tissue to help control internal bleeding or prevent leaks from surgical incisions. The technology's thin, flexible and transparent composition that is ready to use out of the package makes it ideally suited for a range of surgical sealant applications.
"This advanced sealant serves as a strategic complement to the BD products used in the operating room today — providing us with the opportunity to equip surgeons with a more robust, highly-integrated portfolio of surgical solutions," said Kevin Kelly, president of surgery at BD. "Integrating Tissuepatch into our business aligns with our commitment to continuously innovate in our core portfolio to help support minimally invasive surgeries."
BD noted that Tissuepatch is already trusted among surgeons due to its design, which enables strong adhesive and minimal swelling. This foundation provides the company with an opportunity to leverage its reach and clinical expertise to continue to innovate within the sealant technology category, which is expected to grow significantly over the next five to 10 years.
Earlier this month BD acquired Venclose, a chronic venous insuffiency treatment specialist, for an undisclosed sum. The Franklin Lakes, NJ-based company has announced several other acquisitions this year as well, including Tepha, and Velano Vascular. The company is also in the process of spinning off its diabetes unit into a separate public company.
BD recognized as a Medtech Company of the Year finalist
BD, one of our Medtech Company of the Year finalists, has also been busy strengthening its diagnostics arsenal this year. The company has secured an emergency use authorization (EUA) from FDA for a new molecular diagnostic test for both SARS-CoV-2 and Influenza A and B; an EUA for the BD Veritor System, a rapid antigen test for SARS-CoV-2 and Influenza A and B; and a collaboration with Scanwell Health that has resulted in an EUA for the BD Veritor At-Home COVID-19 Test. The company also saw pandemic orders for vaccination needles and syringes reach 2 billion injection devices.
The company is also partnering with the Biomedical Advanced Research and Development Authority (BARDA), as part of the U.S. Health and Human Services Office of the Assistant Secretary for Preparedness and Response, after earning a contract for development and FDA 510(k) clearance of five new combination tests including deetection solutions for SARS-CoV-2, Influenza A and Influenza B, respiratory syncytial virus (RSV), Middle East Respiratory Syndrome (MERS), seasonal coronaviruses, and novel or emerging coronaviruses.
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