Is there something in the air, or do companies announce their M&A news in midsummer because of the dearth of other events? In the last two days we’ve seen KCI announcing the disposal of its Therapeutic Support business to Getinge, ConMed buying Viking Medical Systems, Teleflex buying LMA and Ingen buying SomaLife.
Elsewhere on M&A activity, MassDevice reminds us who’re the biggest spenders with J&J’s recently completed acquisition of Synthes putting them top of the list.
San Antonio’s Kinetic Concepts Inc.(KCI) has agreed to the divestiture of its Therapeutic Support business to Sweden’s Getinge group for a reported $275m in a deal which KCI will enable it to “focus on core growth, execution and realisation of our vision”. Getinge will slot the new business into its Extended Care portfolio and will be retaining its employees. Press release here.
ConMed clearly believes 3D camera systems are finally about to find a home in minimal access surgery with its acquisition, for a reported $20m, of Viking Medical Systems, developers of the only 3D standalone system to be both FDA cleared and CE marked. Press release here.
Finally, respiratory products company Ingen Technologies expects to close its deal in September to acquire SomaLife Consulting, a private Canadian “nutraceuticals” corporation that manufactures and sells new healthcare products for the sports industry and fitness markets. These products are sold worldwide, and include the Soma Youth Formula, Super-X Antioxidant, SomaVit Multi-Vitamin, Soma Omega-3, Soma IQ-150, SomaSport, and SomaPet (a dietary supplement for animals). The deal looks like its worth an initial $3M, so hardly on the radar compared with the other announcements. Press release here.
Source: Business Wire, MarketWire, MassDevice