Mergers and Acquisitions

Thermo Fisher Scientific , a world leader in serving science, has agreed to acquire life sciences company Life Technologies Corporation for approximately $13.6 billion. Thermo expects the move will create the ultimate customer partner and enable it to expand more rapidly, especially in emerging markets.

Buying one’s distributor is not uncommon in the medical device business, and can be a good thing for all parties. Smith and Nephew’s acquisition of PCE should give it greater control of market activities in Brazil…. and higher margins.

Angiotech Pharmaceuticals, Inc. has entered into a definitive agreement to sell certain of its subsidiaries, comprising Angiotech’s Interventional Products Business, to Argon Medical Devices, Inc., for $362.5 million in cash consideration. Angiotech expects the transaction will close prior to the end of April 2013.

J&J company Cordis Corporation, has announced it has completed the acquisition of Flexible Stenting Solutions, Inc., a leading developer of innovative flexible peripheral arterial, venous and biliary stents. Terms of the deal have not been disclosed at this time.

Lumbar spine device company TranS1 Inc., has entered into a definitive agreement to acquire Baxano, Inc., a privately-held medical device company that develops solution for restoration of spine function.

Massachussetts medtech companies Pavilion Medical Innovations L.L.C. and STD Med, Inc. are jointly forming a new entity, Saphena Medical, Inc. Saphena will progress its platform Endoscopic Vein Harvesting technologies, its OnePass™ system achieving single-step, minimally-invasive harvesting of veins used for coronary artery bypass grafting.

Vascular device company AngioDynamics has exercised its option to purchase certain assets of Microsulis Medical Ltd. including a leading microwave ablation technology and its worldwide distribution rights.

Whatever the reasons Given Imaging had for exploring a sale, the Israeli manufacturer of the famous Pill-cam has decided the time isn’t right to progress the idea. So for now it’s back to the job of dominating its therapeutic niche through more development, more acquisitions and hopefully more regulatory approvals.

UK pharma outfit, Shire plc , is to acquire Lotus Tissue Repair, Inc., a privately held biotechnology company developing the first and only protein replacement therapy currently being investigated for the treatment of dystrophic epidermolysis bullosa (DEB). DEB is a devastating orphan disease for which there is no currently approved treatment option other than palliative care.

A new company, CardioLogical Solutions, has been formed from the merger of Emboline and VasoStitch, to provide a comprehensive suite of technologies. The focus will be on addressing the three biggest and most pressing clinical needs to make TAVR procedures truly percutaneous and safer.

Covidien has announced a definitive agreement to acquire CV Ingenuity. The companies expect to complete the acquisition in the first calendar quarter of 2013.

Smith & Nephew plc has completed the acquisition of substantially all the assets of Healthpoint Biotherapeutics for $782 million in cash, financed from Smith & Nephew’s existing cash resources and bank facilities.

Baxter International Inc. will acquire Swedish dialysis products company Gambro AB for a total consideration of a mere 26.5 billion SEK (approximately “a mere” $4.0 billion USD)

Volcano Corporation has signed an agreement to acquire Crux Biomedical, a privately-held company that has developed a highly differentiated inferior vena cava (IVC) filter—the Crux VCF System—to treat pulmonary embolisms (PE’s).

Smith & Nephew plc is so keen to cement its place in wound care that it is acquiring bioactive debridement specialist company Healthpoint Biotherapeutics for $782 million in cash, which is reportedly over 4x revenue and 71x earnings.

Sorin’s investment in HighLife SAS will fund development of an innovative percutaneous mitral valve replacement technology, over which the Italian heart company will retain an option to buy.