Quidel Corp. reported a definitive agreement to acquire Ortho Clinical Diagnostics Holdings plc in a nearly $6 billion deal expected to close in the first half of 2022. The $24.68 per share offered by Quidel represents a nearly 25% premium over Ortho’s closing price as of Dec. 22. Quidel will also assume $2 billion in debt. In addition, Laboratory Corp. of America Holdings (Labcorp) said it would acquire Baltimore-based Personal Genome Diagnostics Inc., which offers a portfolio of genomics-based liquid biopsy and tissue-based diagnostic products, for $450 million in cash at closing plus up to $125 million contingent on achieving specific performance milestones. That deal is also expected to close in the first half of 2022, pending approval by both companies’ shareholders.

Becton, Dickinson and Co. (BD) completed its acquisition of Scanwell Health Inc., its partner in development of the smartphone-enabled BD Veritor At-Home COVID-19 Test, just in time for increased demand driven by the Omicron surge in the U.S. and plans to make the tests available for free by the federal government as well as several states and large municipalities. Currently, most of the tests distributed by governments are made by Abbott Laboratories, which received emergency use authorization (EUA) for its at-home test in March 2021.

Although 2021 med-tech deal volume is 13% higher than last year, the deals represent less than half the value recorded in 2020. The industry has completed 1,576 deals, including licensings, collaborations and joint ventures, through mid-December of 2021. They are valued at $2.13 billion. A total of 573 M&As, on the other hand, have reached $144.75 billion, a 282% rise over 2020.

Royal Philips NV has signed an agreement to acquire Vesper Medical Inc., a U.S.-based developer of minimally invasive peripheral vascular devices. The deal expands Philips’s portfolio of technologies for the treatment of deep venous disease. The transaction is expected to be completed in the first quarter of 2022. Financial details were not disclosed.

Avanos Medical Inc. is acquiring Orthogen Rx Inc. for $160 million in a bid to strengthen its chronic pain portfolio. China led the contribution to India’s med-tech imports with  ₹91.12 billion (US$1.2 billion) worth of goods in the 2021 fiscal year (April 2020 to March 2021), according to an analysis of data from India’s Department of Commerce by the Association of Indian Medical Device Industry (AIMED). 

TORONTO – Cloud Dx Inc. has entered into an exclusive corporate agreement with Medtronic Canada ULC to provide the subsidiary of Medtronic plc virtual and remote patient monitoring (RPM) technology and services across Canada. Medtronic Canada will begin by integrating Cloud Dx’s Connected Health platform along the perioperative and complex chronic disease pathways that make up the country’s health care network.

Venus Medtech (Hangzhou) Inc. reported it has acquired 100% equity interest and corresponding equity in Cardiovalve Ltd. for $300 million. Or Yehuda, Israel-based Cardiovalve produces the Cardiovalve system, a transcatheter interventional replacement product for mitral or tricuspid regurgitation.

Becton, Dickinson and Co. (BD) reported it acquired Tissuemed Ltd., maker of the self-adhesive Tissuepatch surgical sealant. The terms of the deal were not disclosed. The transaction is not expected to have a material impact on BD’s fiscal 2022 financial results. Tissuemed reported 2020 revenues of £2.6 million (US$3.44 million) up from £1.7 million (US$1.32 million) in 2019 in a filing made in November 2020. Net profit was £1.06 million (US$1.40 million) up from £851,000 (US$1.124 million). BD has been on a purchasing binge in recent years with more than a dozen tuck-ins since the start of 2020.