Johnson & Johnson (J&J) agreed to acquire circulatory support device maker Abiomed Inc. for $380 per share in cash, corresponding to an enterprise value of $16.6 billion and a more than 50% premium on the share price as of the market close on Oct. 31. Abiomed shareholders will also receive a non-tradeable contingent value right that entitles them to $35 per share in cash, if certain milestones are met. That would bring the premium to 60%. Read More
BMC Medical Co. Ltd. raised ¥1.918 billion (US$264 million) on the Shenzhen Stock Exchange. Its shares opened on Nov. 1 at ¥230 per share, surged more than 140% in the middle of the day and closed at ¥290. Read More
The U.S. CMS has peeled back a proposed 4.2% rate cut in the home health payment draft rule for calendar year 2023, replacing it instead with a 0.7% increase in overall payments for home health services, a category that affects sales of durable medical equipment and home infusion therapy items. That change was insufficient to mollify the National Association for Home Care & Hospice (NAHC), which argued that the final rule will nonetheless severely hit home care providers and leaves NAHC with no choice but to take its concerns to Capitol Hill. Read More
Israeli technology startup foundry Team8 Labs Ltd. has established a new digital health arm aimed at building and scaling digital health companies. The company plans to create six to eight digital health care companies over the next five years, infusing each with $5 million to $10 million in seed money plus additional resources and services. Read More
Shortages of medical devices were not particularly topical before the COVID-19 pandemic, but they have dotted the landscape in the past three years despite the U.S. FDA’s best efforts to manage such issues. The agency recently announced that tracheostomy tubes are now among the device types that are in a state of shortage, a problem created by a paucity of the raw materials used to manufacture these items. Read More
New hires and promotions in the med-tech industry, including: Bluewind Medical, Brain Scientific, Co-Diagnostics, Inc., Cytek Biosciences, Ionpath, Myriad Genetics, Personalis. Read More
Med-tech happenings, including deals and partnerships, grants, preclinical data and other news in brief: Accuray, Angiodynamics, Bearpac, Beweld, Boston Scientific, China Isotope and Radiation, CNNC High Energy, Gateway Genomics, Myriad, Sherlock Biosciences, Siemens Healthineers, T2 Biosystems, Tolobio, Varian. Read More
Regulatory snapshots, including global submissions and approvals, clinical trial approvals and other regulatory decisions and designations: Cerus, Curvafix, MIM Software. Read More
