Cordis Corp. entered an agreement to acquire M.A. Med Alliance SA (Medalliance) in a transaction valued at up to $1.135 billion. Cordis will invest $35 million initially and provide an upfront payment of $200 million at closing in 2023. Meeting regulatory milestones will kick in $125 million and commercial milestones through 2029 are tied to an additional $775 million.
Synaptive Medical Inc. and Panaxium SAS have inked a deal to bring high-resolution, real-time, artificial intelligence (AI)-assisted cortical mapping to neurosurgeons. Under the collaboration, Synaptive’s Modus V robotic exoscope technology will be integrated with Panaxium’s ultra-flexible iontronic electrocorticography (ECoG) platform.
In an expansion that will surely have other companies wondering why they didn’t move on the opportunity first, Icad Inc. partnered with Solis Mammography to identify cardiovascular risk based on incidental information commonly found in mammograms—and generally ignored.
Orthofix Medical Inc. and Seaspine Holdings Corp. signed a definitive agreement to combine in an all-stock merger of (near) equals. Following the close, Orthofix shareholders will own approximately 56.5% of the company and Seaspine shareholders will own approximately 43.5%. The new company’s name will be announced prior to the transaction’s anticipated first quarter of 2023 closing.
Getinge AB reported a partnership with Medtronic plc for the Radiant stent, the first covered stent indicated for chimney endovascular aneurysm repair (ChEVAR). This new balloon-expandable stent graft for renal arteries obtained CE mark approval on Sept. 20.
The University of Texas MD Anderson Cancer Center and Radiopharm Theranostics Ltd. have launched Radiopharm Ventures LLC, a joint venture (JV) that will develop radiopharmaceutical therapies for cancer. Radiopharm Theranostics owns 51% of shares in the new entity, while MD Anderson owns 49%.
An administrative law judge has decreed that the acquisition of Grail Inc., by Illumina Inc., would not represent a suppression of competition in the market for multicancer early detection (MCED) tests, clearing a way for an acquisition that was initially valued at more than $7 billion.
Second Sight Medical Products Inc. completed a reverse merger with Nano Precision Medical Inc. which leaves the controversial visual prosthetics company holding 23% of the new company, now called Vivani Medical Inc. The deal brings together two unlikely partners, with Nano Precision targeting development of miniaturized, subdermal drug implants for chronic diseases such as diabetes, while Second Sight has focused on bringing its Orion visual prosthetic device to market. The company now trades on the Nasdaq under the symbol VANI.
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