Ceribell Inc. launched its initial public offering of more than 10.6 million shares of common stock at $17 and steadily saw the trading value rise, before closing just over $25 on Oct. 11 per share. Ceribell, which developed a portable electroencephalogram for use in intensive care and emergency department settings, expected to gross $180.3 million from the IPO excluding any exercise of the underwriters’ option to purchase additional shares. The IPO will close on Oct. 15.
Radiopharmaceutical company Telix Pharmaceuticals Ltd. is continuing its buying spree to shore up dominance in the radiopharmaceutical market with its latest acquisition of RLS Radiopharmacies for $250 million to expand its U.S. manufacturing presence and establish a next-generation radiometal production network.
Creo Medical Group plc entered into an agreement to sell a 51% stake in its European consumable business to Chinese medical device distributor, Micro-Tech Co. Ltd. for approximately €36.7 million (US$41 million) in cash on a cash free, debt free basis.
Merit Medical Systems Inc. reported it is buying the lead management assets of Cook Medical Inc. for $210 million in cash. The Cook products consist of lead extraction devices and other lead management products.
Days ahead of its contentious annual shareholders’ meeting slated for Sept. 19, Masimo Corp. established partnerships with two big players – Google LLC and Qualcomm Technologies Inc. – to significantly expand and support the ecosystem for Wear OS smartwatches by developing a next-generation smartwatch reference platform for original equipment manufacturers.
A Delaware chancery court decreed that Johnson & Johnson Inc. owes investors in Auris Health Inc. more than $1 billion over allegations that J&J had undercut Auris products after the 2019 acquisition of Auris. The outcome highlights the hazards of acquisitions of companies that are competitive in a particular product space, but a shift in FDA policy regarding robotic surgical systems may have also played a role in this outcome.
Getinge AB agreed to acquire Paragonix Technologies Inc. for $477 million, including upfront and earn out payments. The deal marks Getinge’s entry into the global organ preservation and transportation market, a rapidly advancing field driven by rising transplant volumes, technological innovations and evolving clinical practices.
Stryker Corp. continued its aggressive M&A program this year with the planned acquisition of Vertos Medical Inc. Vertos offers a minimally invasive lumbar decompression (Mild) solution for chronic lower back pain caused by lumbar spinal stenosis. The announcement brings Stryker to six deals so far this year: Société d'Etudes, de Recherches et de Fabrication (SERF) SAS, Mfphd LLC, Artelon Inc., Molli Surgical Inc., Care.ai Inc. and now Vertos. Financial terms were not disclosed for any of the transactions.
Johnson & Johnson aims to add a fourth cardiac business to its portfolio in less than two years with the acquisition of V-W aveLtd., which makes the Ventura interatrial shunt system for the treatment of heart failure. J&J will pay $600 million up front and an additional $1.1 billion contingent on meeting specified regulatory and commercial milestones. The deal is slated to close before the end of the year.
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