Embattled Masimo Corp. disclosed it received a non-binding term sheet offering $850 million to $950 million for a potential joint venture that would include its consumer health products and the Sound United business. In an 8-K filing with the U.S. Securities and Exchange Commission, Masimo said it intends to negotiate for a higher price.

Quest Diagnostics Inc. agreed to purchase Canadian laboratory testing giant Lifelabs Inc. from the Ontario Municipal Employees Retirement System for US$985 million (CA$1.35 billion), including debt, in a deal expected to close by the end of the year. Quest projects that Lifelabs, which will retain its brand, headquarters and management, will contribute US$710 million in the first 12 months after closing.

Alcon AG completed the acquisition of Belkin Vision Ltd. with an upfront consideration of $81 million with an additional $385 million in contingent payments. With the deal, Alcon gets its hands on Belkin’s U.S. FDA-cleared direct selective laser trabeculoplasty device, expanding its treatment options for patients with glaucoma.

Merit Medical Systems Inc. acquired the Esophyx Z+ device from Endogastric Solutions Inc. for $105 million in cash, adding a durable, non-pharmacological treatment for gastroesophageal reflux disease to its line-up of gastrointestinal products.

Boston Scientific Corp. continued its journey down the acquisition highway with its announced plan to acquire stroke products maker Silk Road Medical Inc. for $27.50 a share, or approximately $1.16 billion.

In 2023, med-tech deals culminated in the highest total deal value ever recorded by BioWorld MedTech, totaling $10.63 billion, a 33% increase from the $7.99 billion recorded in 2022.

Edwards Lifesciences Corp. is selling its critical care product group to Becton Dickison and Co. (BD) for $4.2 billion in cash, forgoing its previously announced plans to spin off the unit into a separate business. The transaction is expected to close before the end of the calendar year.

Surmodics Inc. reported plans to be acquired by private equity firm Golder, Thoma, Cressey, Rauner Inc. for $43 a share for a total equity valuation of approximately $627 million. The per-share acquisition price represents a 41.1% premium to Surmodics’ 30-trading day volume-weighted average closing price through May 28, 2024.

Nordson Corp. said it will buy Atrion Corp. for $460 per share in cash, representing a total equity value of approximately $815 million. The transaction enterprise value reflects a multiple of 20.2 times Atrion's 2023 EBITDA, and the $460 per share price represents a 15% premium to Atrion's 90-day average daily volume-weighted average stock price.

Despite the ongoing war, speakers at Biomed Israel this week reported that business and investment in Israel’s med-tech industry continues largely unchanged.