Three months earlier than an expected update on a deal, Becton, Dickinson and Co. reported its biosciences and diagnostic solutions business will combine with Waters Corp. in a transaction valued at $17.5 billion. The resulting enterprise will operate under the Waters name and use its trading symbol (NYSE:WAT). Waters CEO Udit Batra will head the combined company.

Zimmer Biomet Holdings Inc. reported it is buying orthopedic robotics maker Monogram Technologies Inc. for an upfront payment of $4.04 per share in cash, corresponding to an equity value of approximately $177 million and an enterprise value of about $168 million.

Alcon AG plans to acquire Lumithera Inc., adding its photobiomodulation (PBM) device designed to treat early and intermediate dry age-related macular degeneration (AMD) to the Alcon portfolio. The financial terms of the deal were not disclosed. The move continues Alcon’s strategic expansion in eye care, following on its recent acquisitions of Aurion Biotech Inc. and Lensar Inc.

Lunit Inc. reported a new collaboration with Microsoft Corp. July 2 to jointly develop medical AI programs accessible on Microsoft’s Azure cloud platform.

After making a significant strategic investment in Oxganox Ltd. earlier this year, Terumo Corp. returned to buy the company. This morning, the companies announced that Terumo would acquire Organox for $1.5 billion, marking Terumo’s entry into the organ transplant sector. The transaction is one of the largest exits ever for the U.K. med-tech sector.

The IPO market for med-tech companies continues to set new records. With one IPO closed the last week of June, two slated for the first week of July and another pending, 2025 will shortly exceed the total number of IPOs closed in the previous two years combined as well as the number completed in 2022.

Classically, the diagnosis of type 1 diabetes comes after a patient presents with unexplained weight loss, extreme thirst and frequent urination and a lab test reveals off-the-charts blood glucose levels. At the 85th Scientific Sessions of the American Diabetes Association in Chicago, researchers highlighted two options – a blood test and a machine learning model – for diagnosing the disease much earlier in its progression, when damage to the pancreas' beta cells could be slowed.

In a bid to boost its multiomics holdings, Illumina Inc. reported an agreement to buy proteomics technology company Somalogic Inc. from Standard Biotools Inc. for $350 million in cash, plus up to $75 million in near-term performance-based milestones and performance-based royalties.

Despite raising the price of its IPO twice, Caris Life Sciences Inc. left money on the table with a 33% increase in price as soon as trading commenced on the Nasdaq, though no one is squawking about raising nearly $500 million. The cancer diagnostics company initially priced its IPO at $16 to $18, then raised it to $19 to $20, before closing on a price of $21 per share. As management rang the bell for the start of trade on June 18, shares began trading at $28.

The 23andme Holding Co.’s saga came full circle with founder Anne Wojcicki regaining control of the bankrupt genetic testing company in a bidding battle against Regeneron Pharmaceuticals Inc.