MPO Staff01.02.24
Consolidation between suppliers or medical device OEMs have become commonplace. The industry's landscape is in a constant state of flux as specialized firms are absorbed by a peer organization. The factors driving this trend are numerous, and the outcomes enable access to new technologies, customers, regions, and/or capabilities.
Given how prominent these deals are within the medical device manufacturing community, this page will be a dedicated resource to provide a quick-glance utility to all the transactions that take place within 2024. Return often to stay abreast of the latest deals occurring within the industry and get a brief recap of the most important details.
Date of Announcement: May 1, 2024
Value: Not disclosed
Date of Announcement: April 30, 2024
Value: Not disclosed
Date of Announcement: April 29, 2024
Value: $310 million
Date of Announcement: April 29, 2024
Value: Not disclosed
Date of Announcement: April 11, 2024
Value: $787.5 million
Date of Announcement: April 5, 2024
Value: $13.1 billion
Date of Announcement: April 1, 2024
Value: Not disclosed
Date of Announcement: March 27, 2024
Value: Not disclosed
Date of Announcement: March 20, 2024
Value: £550 million ($700 million)
Date of Announcement: March 18, 2024
Value: Not disclosed
Date of Announcement: March 18, 2024
Value: Not disclosed
Date of Announcement: March 13, 2024
Value: $189 million
Date of Announcement: March 7, 2024
Date of Announcement: March 5, 2024
Value: $160 million
Date of Announcement: February 16, 2024
Value: Up to $45 million
Date of Announcement: February 6, 2024
Value: $300 million on a cash and debt-free basis.
Date of Announcement: January 29, 2024
Value: Not disclosed
Date of Announcement: January 24, 2024
Value: Not disclosed
Date of Announcement: January 19, 2024
Value: Not disclosed
Date of Announcement: January 18, 2024
Value: Not disclosed
Date of Announcement: January 11, 2024
Value: Not disclosed
Date of Announcement: January 10, 2024 (acquisition closed January 5)
Value: $140 million
Date of Announcement: January 8, 2024 (acquisition closed April 1)
Value: Not disclosed
Date of Announcement: January 8, 2024
Value: $3.7 billion
Date of Announcement: January 2, 2024
Value: $295 million at closing (with an additional $55 million payment to reimburse amounts to fund the POC business until the acquisition’s closing)
Date of Announcement: January 2, 2024
Value: Not disclosed
Given how prominent these deals are within the medical device manufacturing community, this page will be a dedicated resource to provide a quick-glance utility to all the transactions that take place within 2024. Return often to stay abreast of the latest deals occurring within the industry and get a brief recap of the most important details.
Veranex—HORUS Scientific
HORUS Scientific's North American capability complements Veranex's in-house pathology and histology services in Paris, fortifying the company’s pathology service line.Date of Announcement: May 1, 2024
Value: Not disclosed
Radformation—Limbus AI
Radformation, a developer of automation solutions for cancer care, acquired privately-held Limbus AI, a provider of automated contouring software for radiation therapy.
Date of Announcement: May 1, 2024
Value: Not disclosed
Value: Not disclosed
Medline—Ecolab's Global Surgical Solutions Business
The acquisition will provide Medline with sterile drape solutions for surgeons, patients, and operating room equipment. It will also add Ecolab’s fluid temperature management system to its portfolio.Date of Announcement: April 30, 2024
Value: Not disclosed
Hologic—Endomagnetics
Cambridge, U.K.-based Endomagnetics offers breast surgery localization and lymphatic tracing technologies.Date of Announcement: April 29, 2024
Value: $310 million
Solar Atmospheres—Certified Metal Craft Inc.
Solar Atomspheres has acquired San Diego-based Certified Metal Craft Inc. (CMC). CMC establishes Solar’s 6th nationwide location and bolsters its West Coast presence.Date of Announcement: April 29, 2024
Value: Not disclosed
STERIS Dental Segment—Peak Rock Capital
STERIS entered a definitive agreement to sell its Dental division to Peak Rock Capital private investment firm. STERIS might also receive an additional earn out of up to $12.5 million, subject to revenue targets of the Dental segment in fiscal 2025.Date of Announcement: April 11, 2024
Value: $787.5 million
Johnson & Johnson—Shockwave Medical
J&J will acquire all outstanding Shockwave Medical shares for $335 per share in cash. Shockwave is the first-to-market provider of intravascular lithotripsy (IVL) tech to treat calcified CAD and PAD.Date of Announcement: April 5, 2024
Value: $13.1 billion
Wytech Industries—Silvertip & Associates
Wytech Industries has acquired the assets to Silvertip & Associates, a metal finishing company located in Minneapolis, MN. With this acquisition Wytech expands its precision grinding capabilites.Date of Announcement: April 1, 2024
Value: Not disclosed
Medical Technology and Devices (MTD)—Ypsomed
MTD began a deal to acquire Ypsomed's pen needle and blood glucose monitoring businesses. The acquisition allows MTD to open new, strategic markets like Germany.Date of Announcement: March 27, 2024
Value: Not disclosed
Johnson Matthey—Montagu Private Equity
Johnson Matthey began an agreement to sell its Medical Device Components (MDC) business to Montagu. The company’s MDC business produces components for medical device manufacturers globally, with emphasis on precious metal alloys and nitinol.Date of Announcement: March 20, 2024
Value: £550 million ($700 million)
DirectMed Imaging—Titanium Medical Imaging
DirectMed Imaging has acquired Houston, TX-based Titanium Medical Imaging company. DirectMed Imaging can now offer customers around the world with immediate access to mission-critical inventory for all four major original equipment manufacturers (OEM), with expanded engineer training to include Canon/Toshiba MRI and CT equipment.Date of Announcement: March 18, 2024
Value: Not disclosed
Titan Medical—Conavi Medical
Titan and Conavi Medical have agreed to merge in an all-stock transaction. Titan will acquire all issued and outstanding Conavi shares, and Conavi shareholders will be issued common shares of Titan. The transaction will constitute a reverse takeover of Titan.Date of Announcement: March 18, 2024
Value: Not disclosed
Novanta—Motion Solutions
Novanta Inc. has completed its $189 million acquisition of Motion Solutions. With this Novanta adds complementary motion subsystem solutions to the company's product portfolio.Date of Announcement: March 13, 2024
Value: $189 million
Olympus—Taewoong Medical (RESCINDED)
After announcing the closing of the $370 million deal for Taewoong Medical on January 24, Olympus rescinded the acquisition on March 7 after discovering "data integrity issues" related to Taewoong products.Date of Announcement: March 7, 2024
Haemonetics—Attune Medical
The company began a deal to acquire Attune, maker of the ensoETM proactive esophageal cooling device, which offers esophageal protection during radiofrequency (RF) ablation.Date of Announcement: March 5, 2024
Value: $160 million
AngioDynamics—Spectrum Vascular
AngioDynamics sold its PICC, Midline, and tip location products to Spectrum Vascular. The combined portfolio generated about $43.5 million in annual sales during the company’s fiscal year 2023.Date of Announcement: February 16, 2024
Value: Up to $45 million
Trelleborg Sealing Solutions—Barron Group
Trelleborg Group has signed an agreement to acquire Baron Group advanced silicone components manufacturer through its Trelleborg Sealing Solutions business area,Date of Announcement: February 6, 2024
Value: $300 million on a cash and debt-free basis.
C2Dx—Cook Medical's Otolaryngology/Head and Neck Surgery (OHNS) Products
Shore Capital Partners partnered with C2Dx medical device company, have acquired Otolaryngology/Head and Neck Surgery (OHNS) products from Cook Medical.Date of Announcement: January 29, 2024
Value: Not disclosed
Arterex—Micromold
Arterex, a leading medical device developer and contact manufacturer, has acquired Micromold, Inc. The company is a supplier of custom precision micromolded parts to the medical industry.Date of Announcement: January 24, 2024
Value: Not disclosed
Cynosure—Lutronic
Lutronic adds intelligent laser and energy-based systems to Cynosure’s portfolio. The company has products for skin resurfacing and revitalization, hair removal, vascular lesion treatment, skin toning, and body contouring.Date of Announcement: January 19, 2024
Value: Not disclosed
Kindeva Drug Delivery—Summit Biosciences
Summit is an intranasal drug-delivery contract development and manufacturing organization (CDMO) and adds a 55,000-square-foot cGMP facility to Kindeva's nine existing facilities.Date of Announcement: January 18, 2024
Value: Not disclosed
CardioFocus—Galvanize Therapeutics' Electrophysiology Division
Included in the acquisition is the Centauri pulsed electric field generator, which has EU approval and is commercially available in the EU and U.K.Date of Announcement: January 11, 2024
Value: Not disclosed
Integer Holdings—Pulse Technologies
Medical device outsource manufacturer Integer Holdings closed the acquisition of Pulse Technologies, an engineering and contract manufacturing firm that focuses on complex micro machining of components for structural heart, heart pump, electrophysiology, leadless pacing, and neuromodulation devices.Date of Announcement: January 10, 2024 (acquisition closed January 5)
Value: $140 million
GE HealthCare—MIM Software
GE HealthCare entered an agreement to acquire MIM Software, a provider of medical imaging analysis and artificial intelligence solutions for radiation oncology, molecular radiotherapy, diagnostic imaging, and urology.Date of Announcement: January 8, 2024 (acquisition closed April 1)
Value: Not disclosed
Boston Scientific—Axonics
Boston Scientific began a deal to acquire Axonics for a purchase price of $71 per share. Axonics focuses primarily on devices to treat urinary and bowel dysfunction.Date of Announcement: January 8, 2024
Value: $3.7 billion
Roche—LumiraDx's Point-of-Care
Roche began a deal to acquire certain parts of the LumiraDx group that are related to the company’s Point of Care technology. The transaction is expected to close by mid-2024, at which point the acquired businesses will be integrated into Roche Diagnostics.Date of Announcement: January 2, 2024
Value: $295 million at closing (with an additional $55 million payment to reimburse amounts to fund the POC business until the acquisition’s closing)
Probo Medical—Alpha Source Group
Probo Medical—a provider of medical imaging equipment, parts, repair, and service—began a deal to acquire Alpha Source Group to expand its diagnostic imaging solutions platform.Date of Announcement: January 2, 2024
Value: Not disclosed