A Medical Device Daily
MicroVention (Aliso Viejo, California), a privately held developer of minimally invasive treatments for cerebral and vascular peripheral diseases, reported that it has entered into a definitive agreement to be acquired by Terumo (Tokyo), an international manufacturer of general hospital, cardiac, vascular and home healthcare products.
The all-cash deal, whose value was not disclosed, is slated for completion by March 31, subject to the receipt of required approvals.
MicroVention and its employees and management will continue to operate out of the company’s headquarters in Aliso Viejo.
“This is a tremendous opportunity for MicroVention to be part of a much larger and highly respected international organization and to accelerate the company’s growth through a broader platform for bringing novel interventional products to the market,” said MicroVention President and CEO R. Michael Kleine.
He added: “The acquisition of MicroVention will enable Terumo to immediately expand into the growing worldwide market for the endovascular treatment of cerebral aneurysms.”
Kleine pegged the current endovascular coiling market at an estimated $225 million, with expected double-digit growth over the next several years.
MicroVention, which has a global sales force and distribution network, develops hydrogel-coated and bare platinum coils and related devices for the minimally invasive, endovascular treatment of cerebral vascular aneurysms.
MicroVention said its 510(k)-cleared and CE-marked HydroCoil embolic system and MicroPlex coil system have proven to be highly effective for the treatment of cerebral aneurysms. The company also recently launched the V-Trak delivery system, a device used to easily detach coils within an aneurysm.
Stericycle (Lake Forest, Illinois), a provider of medical waste management and compliance services for the healthcare community, reported completing the acquisition of Sterile Technologies Group (STG; Dublin, Ireland), a pro-vider of medical waste management services in Ireland and the UK, for about $131 million, of which $114 million was paid in cash and $17 million was paid by assumption of debt.
Stericycle said the acquisition is expected to add about $46 million to its revenues this year.
In other dealmaking news,Akers Biosciences (Thorofare, New Jersey) said it has completed its acquisition of the assets of WNCK (The Woodlands, Texas).
The company said it will pay $410,000 in cash and provide 125,000 shares in addition to other considerations for the assets of WNCK. The total value of the acquisition is about $563,000.
Akers said it expects the acquisition costs to be recouped within 18 months through increased margins and greater unit sales.
WNCK distributes disposable alcohol breathalyzers in the U.S., and says that its Breath Scan product line has been one of the industry standards for the past 15 years. Its customer base includes law enforcement agencies, retail chains and the U.S. military.
Akers, which has been the sole manufacturer of WNCK’s products for the past five years, develops rapid, point-of-care screening and testing products designed to bring healthcare information both rapidly and directly to the patient or healthcare provider.