Just a week into 2021 and Hologic Inc. is planning another acquisition. The company announced that it has agreed to acquire the molecular diagnostics testing company Biotheranostics Inc. for roughly $230 million cash up front. This comes on the heels of completing the acquisition of Somatex Medical Technologies GmbH for about $64 million. The acquisition of San Diego-based Biotheranostics is expected to close in February 2021, pending antitrust clearance.
Perkinelmer Inc. is aiming to boost its infectious disease testing footprint with the acquisition of Oxford Immunotec Global plc for $591 million in cash. The purchase, reported Thursday, will allow Perkinelmer to expand its current offerings with solutions for tuberculosis (TB) detection. Perkinelmer shares (NYSE:PKI) hit a high of $162.16 Thursday morning, before closing at $160.53 – up 2.66% from the Wednesday’s close of $156.37.
Pixium Vision SA and Second Sight Medical Products Inc. have inked a definitive agreement through which the former will become the controlling shareholder of the newly combined company. The transaction also will result in the creation of a new entity that will focus on cortical stimulation through Orion. Second Sight is developing that product, which bypasses the diseased eye and could provide a new form of vision.
Flowonix Medical Inc. and Swk Holdings Corp. closed a $33 million financing that included $10 million in debt facility from Swk in addition to $23 million in a series B round led by returning investor Farallon Capital Management with support from several new investors. The financing will replace approximately $7.5 million in prior venture debt from Hercules Capital. It will also fund development of new products, entry into new disease markets, production expansion, and partnerships with pharmaceutical companies.
HONG KONG – Votis Subdermal Imaging Technologies Ltd. is developing a diagnostics solution that could prevent the loss of feet among India’s impoverished due to affects of peripheral artery disease (PAD). The company has entered an agreement with India’s Ii Ventures Pte. Ltd. (iiV) to develop a system to screen the largely rural Indian population for PAD.
Hologic Inc., which focuses on women’s health, said Jan. 4 that it has completed the acquisition of Somatex Medical Technologies GmbH for roughly $64 million. Based in Berlin, Somatex focuses on minimally invasive devices for tumor diagnostics, biopsy and interventional specialties. Somatex’s portfolio includes biopsy site markers and localization technologies, including Trumark markers. The company was previously owned by E-Med Solutions GmbH, a group of investors led by German private equity firm Westlake Partners.
Bayer Corp. and Veracyte Inc. are collaborating in the thyroid cancer space, with an eye toward identifying underlying genomic drivers, including NTRK gene fusions, within patients’ tumors. South San Francisco-based Veracyte offers the Afirma Genomic Sequencing Classifier (GSC) and Xpression Atlas (XA), which aims to help physicians in terms of thyroid cancer diagnosis and individualized care.
PARIS – Tilak Healthcare SAS is signing an ophthalmology partnership agreement with Novartis AG from Basel, Switzerland, to expand international distribution of its vision monitoring technology, Odysight.
Royal Philips NV is expanding its cardio footprint with the acquisition of Biotelemetry Inc., a manufacturer of remote medical technologies, for $2.8 billion, or $72 per share. The proposed deal, announced Friday, furthers Philips’ goal of providing integrated solutions across the care continuum, with Biotelemetry’s cardiac diagnostics and monitoring tools joining Philips’ line of hospital-based patient monitoring solutions. Philips expects the Biotelemetry business to contribute to sales growth and EBITA margin in 2021 and deliver double-digit growth and improve profit margins to more than 20% by 2025.