The U.S. Federal Trade Commission (FTC) and the Department of Justice (DOJ) have issued the final version of their updated merger guidelines for corporations, concluding a process that took a scant six months to complete following the issuance of the draft.
Henry Schein Inc., long known primarily as a dental equipment distributor, added two deals to its 2023 roster that will expand its presence in the orthopedics market. The company agreed to acquire a majority interest in Trimed Inc., which focuses on solutions for treatment of the upper and lower extremities and entered into a strategic relationship with Extremity Medical LLC.
Carl Zeiss Meditec AG reported it plans to buy Dutch Ophthalmic Research Center BV (DORC) from investment firm Eurazeo SE for approximately €985 million (US$1.08 billion).
Zimvie Inc. will sell its spine business to private equity investor H.I.G. Capital for $375 million, a move that should clean up its balance sheet and allow it to focus on the more profitable dental business. The deal is structured as $315 million in cash plus a promissory note for $60 million with an interest rate of 10%, compounded semi-annually.
South Korean artificial intelligence software developer Lunit Inc. plans to acquire Volpara Health Technologies Ltd. for $193 million (AUD 292 million) by mid-2024, taking a global leap to the U.S. market and becoming an AI-based platform health care firm.
Integra Lifesciences Holdings Corp. agreed to acquire Acclarent Inc. from Johnson & Johnson’s Ethicon Inc. subsidiary for $275 million in cash at closing with a further $5 million contingent on achievement of certain regulatory milestones.
Kaneka Corp. has acquired Japan Medical Device Technology Co. Ltd. (JMDT), to expand its reach in the coronary stent business segment. Financial terms of the deal were not disclosed.
Japanese specialty global pharma Kyowa Kirin Co. Ltd. has agreed to buy out Orchard Therapeutics plc in a $387.4 million cash takeover that could jump $90 million to reach $477.6 million, contingent on the pending U.S. FDA approval of its EU-approved gene therapy, Libmeldy (atidarsagene autotemcel).
Japanese specialty global pharma Kyowa Kirin Co. Ltd. has agreed to buy out Orchard Therapeutics plc in a $387.4 million cash takeover that could jump $90 million to reach $477.6 million, contingent on the pending U.S. FDA approval of its EU-approved gene therapy, Libmeldy (atidarsagene autotemcel).
Harmony Biosciences Holdings Inc.’s agreement to acquire Zynerba Pharmaceuticals Inc. for $60 million cash plus as much as $140 million in contingent value rights (CVRs) didn’t register as one of the larger potential outlays recently, but Wall Street had questions about the term sheet just the same. Plymouth Meeting, Pa.-based Harmony is paying about $1.10 per share in cash for Zynerba, of Devon, Pa., plus one non-tradeable CVR tied to clinical, regulatory and sales milestones.
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