Companies in the device and diagnostics spaces are familiar with how government agencies react to acquisitions that bolster the acquiring company’s product pipeline, but vertical mergers provoke a different set of regulatory concerns. The European Commission (EC) recently updated its guidelines for vertical agreements, a development that could hamper some EU corporate activity going forward.
Pfizer Australia Holdings Pty Ltd. has revised its offer to acquire digital health company Resapp Health Ltd. after results from an independent data confirmation study of its COVID-19 algorithm failed to meet Pfizer’s required sensitivity and specificity results.
Prognomiq Inc. secured access to 800,000 anonymized biological samples for analysis and detection of dynamic cancer biomarkers as part of a new partnership struck with Kahn-Sagol-Maccabi (KSM), the research and innovation center of Maccabi Healthcare Services, Israel’s largest health maintenance organization. The partnership will enable the creation of a biomarker platform the organizations hope will facilitate early diagnosis and improved outcomes for cancer patients using Prognomiq’s multiomics platform.
Medical device and analytics company Trajan Group Holdings Ltd. completed an AU$29.7 million (US$20.7 million) placement to fund the acquisition of Louisville, Kentucky-based Chromatography Research Supplies Inc.
Los Angeles-based cancer diagnostics company Nonagen Bioscience Corp. obtained CE marking for its Oncuria immunoassay for bladder cancer. The multiplex urine test is designed to detect the concentration of 10 proteins that are associated with bladder cancer in urine samples. Clinical studies found the test has a 93% sensitivity and 93% specificity for detecting bladder cancer. The test is also designed to predict whether people are more likely to respond to bacillus Calmette-Guérin (BCG) therapy, a first-line treatment for bladder cancer.
In May, Sidekick Health AB revealed an expanded partnership with New York-based Pfizer Inc. for autoimmune-related conditions. Now, it has joined forces with Eli Lilly and Co. to help patients battling breast cancer with its gamified platform. The companies plan to introduce the integrated digital therapeutic starting in July with the roll out beginning in Germany.
Boston Scientific Corp. signed an agreement to purchase a majority stake (64%) of M.I. Tech Co. Ltd. for $230 million. The publicly traded Pyeongtaek South Korea-based company manufactures device solutions used in endoscopic and urologic procedures. Boston Scientific has distributed M.I. Tech’s Hanarostent non-vascular stent in Japan since 2015. The deal marks Boston Scientific’s first acquisition of the year, following a busy spending spree in 2021.
Resmed Inc. has entered into a definitive agreement to acquire Medifox Dan GmbH, a German developer of out-of-hospital software solutions for providers in major settings across the care continuum, from software and services investor Hg. The deal – valued at roughly $1 billion – is expected to close by the end of the year, which is the end of the second quarter of Resmed’s 2023 fiscal year.
Pediatric orthopedics company Orthopediatrics Corp. has signed a $33 million deal to buy competitor Pega Medical Inc. As part of the deal, Orthopediatrics will acquire Pega’s Fassier-Duval telescopic intramedullary system. The implant is designed to treat bone deformities in children with osteogenesis imperfecta. Orthopediatrics will pay a $31 million upfront cash payment plus $2 million in stock – which includes certain restrictions for three years.
Samsara Vision Inc. signed a deal with China’s Lansheng Medical Corp. (Myvision) to bring Samsara’s next-generation visual prosthetic devices to mainland China, Macau, the Hanain Province, and Hong Kong.
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