Bayer AG acquired Blackford Analysis Ltd., a British developer of artificial intelligence systems that help make diagnoses using medical images in the U.K. and U.S. The companies did not disclose any financial details. “This deal is part of our strategy to drive innovation in radiology, including the development and adoption of AI within the workflow, with the goal of ultimately improving patient care and advance our position in digital medical imaging,” Stefan Oelrich, a board member at Bayer AG and president of Bayer’s pharmaceutical division, told BioWorld.
Abbott Laboratories reported its plans to acquire Cardiovascular Systems Inc., (CSI), makers of an orbital atherectomy system, and will pay shareholders of CSI $20 per share. Analysts see the acquisition as a smart move for Abbott even though the purchase price represents a 50%-plus premium over the Feb. 8 closing price of $13.31, but the companies did not provide a date by which the transaction will close.
Globus Medical Inc. entered into a definitive agreement to buy Nuvasive Inc. in an all-stock transaction that will combine two leaders in the musculoskeletal industry into one of the largest companies in the spinal surgery market. While there are many companies in the spine market, the acquisition may still set off an alarm among regulators concerned about consolidation in the field. Both boards unanimously approved the deal.
Baxter International Inc. has joined forces with Miromatrix Medical Inc. to advance the development of bioengineered organs for patients with acute liver failure (ALF). Under the collaborative research agreement, Baxter will combine its Prismax system with Miromatrix's single-use bioengineered liver, miroliver, to provide external support to patients' native livers as they await transplant or potential regeneration.
Regenerative medicine company Relive Biotechnologies Ltd. acquired all operating assets of Germany-listed biotech company Co.don AG to expand its global footprint.
Maela SAS and Nouveal SAS reported plans to merge and become a leading player in the market for remote medical monitoring and patient pathway management.
Sysnav Healthcare SA and Roche Holding AG entered a new collaboration to develop digital endpoints for use in clinical trials of therapies for a range of neuromuscular disorders. The alliance combines Sysnav’s expertise in wearable technologies and movement evaluation with Roche’s clinical experience. It builds on an existing collaboration that led to the qualification of the world’s first digital endpoint, for evaluating therapies in development for Duchenne muscular dystrophy (DMD). They now aim to put that experience to work in widening its application to other disorders in which movement is a key parameter.
The volume of med-tech deals and M&As dropped in the fourth quarter of 2022, although it was a solid year for both types of transactions due to a growing interest in the digital health space.
Companion Spine SAS has acquired Backbone SAS, a company that develops implantable functional motion restoration devices for treating spinal disorders. The inclusion of Backbone's flagship medical device, Lisa – a lumbar implant for stiffness augmentation – completes the Companion Spine portfolio.
Shockwave Medical Inc. will acquire Neovasc Inc. for just under $108 million, if all terms of the deal are met. Shockwave will pay $27.25 in cash for each of Neovasc’s 2.71 million outstanding shares or approximately $73.78 million at close. Shockwave said the offer corresponds to an enterprise value of $100 million. Neovasc could receive an additional payment of up to $47 million, if the company’s Reducer system for refractory angina obtains U.S. FDA marketing approval within a specified time frame.
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