Report: EU to clear Zimmer's $13B Biomet deal
March 18, 2015 by MassDevice
Zimmer is set to secure conditional approval from European Union regulators for its proposed $13.35 billion takeover of rival Biomet, 2 people with knowledge of the matter said today.
Zimmer, which would become the No. 2 player in the $45 billion global orthopedics market after the acquisition, revised its concessions to the European Commission last month, saying they were generally consistent with an earlier package. Read more
Philips mulls 2016 IPO for lighting biz as bidding war heats up
March 20, 2015 by Brad Perriello
Royal Philips yesterday said it’s considering an initial public offering next year for its legacy lighting business, even as it reviews bids from private equity shops and a new suitor from Asia.
“The separation is currently intended to be effectuated through an initial public offering, but other options will continue to be reviewed,” the Dutch conglomerate said. A shareholders meeting is scheduled for May 7. Read more
Heraeus acquires guidewire maker NeoMetrics
March 19, 2015 by Mark Hollmer
A German maker of medtech materials is buying up a smaller Minnesota rival in an agreement that will expand its product roster.
Heraeus Medical Components, a Minnesota-based unit of Germany’s Heraeus Holding, isn’t disclosing financial details about its plan to snatch up NeoMetrics, a Plymouth, Minn.-based operation that designs and manufactures medical device guidewires and other components. Read more
Pyott out after Actavis closes $70B Allergan buyout
March 18, 2015 by Mark Hollmer
Actavis closed its $66 billion buyout of Allergan yesterday, but the new entity will have to do without the services of former Allergan CEO David Pyott.
Dublin-based Actavis said this week that the European Commission approved the merger, removing the deal’s final hurdle. Read more
Australian PE shop acquires Simplify Medical
March 23, 2015 by Brad Perriello
Simplify Medical said it was recently acquired by Australian private equity shop M.H. Carnegie for an undisclosed amount, as it gears up for a U.S. clinical trial of its MRI-safe artifical cervical disc.
“We invested in Simplify Medical because we believe they have a better option for treating patients in a growing market in spine. We are working with the company to accomplish their mission of providing non-metallic, MRI-friendly, anatomically appropriate cervical artificial discs to patients worldwide,” M.H. Carnegie managing director Mark Carnegie said in a statement. Read more
The post ZMH set to acquire EU approval for $13B Biomet deal | The week in medtech M&A appeared first on MassDevice.