Less than two years after acquiring Sound United for $1.025 billion, Masimo Corp. plans to hive off the consumer audio subsidiary along with consumer health products such as its Stork baby monitor and Freedom smart watch and band. The “rushed” announcement made Friday “came after being informed that Politan intended to nominate directors this week,” said activist investor Politan Capital Management. Politan, which owns 8.9% of the company, secured two board seats in a highly contentious proxy battle last year and nominated two more on Monday morning.
Medtronic plc and Davita Inc. launched a new company this week centered on the assets and capabilities of Medtronic’s former Renal Care Solutions (RCS) division. Mozarc Medical US LLC brings Medtronic’s strategic plan to streamline its operations by spinning off several divisions one step closer to fruition.
PARIS – Diagnostic Medical Systems SA (DMS) is spinning off its medical imaging division into Asit Biotech NV. This agreement, between two firms listed on the Euronext exchange, involves French med-tech company DMS merging its flourishing medical imaging business with the Belgian biopharmaceutical firm and acquiring a controlling stake in the company.
Zimmer Biomet Holdings Inc. continued its transformation, disclosing Friday that it will spin off its spine and dental businesses into a separate, publicly traded company. The move will enable the independent company, identified as Newco, to pursue strategies and growth in spine and dental solutions that have not been a major focus for Zimmer Biomet, while allowing the latter to focus on high-growth orthopedic segments.
Bausch Health Companies Inc. has long been considering strategic options for its eye health business. But now that it has paid down $8 billion in debt and divested $4 billion in non-core assets, it expects that the time is now right to spin out the eye health business as a separate publicly traded entity.
Even as the volume of mergers and acquisitions in 2019 reached the highest level in the last 10 years, multiple big pharma companies are looking to get smaller, spinning off units into separate entities.