December''s Trade News Digest

08 December 2019

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Advanced Medical Solutions Acquires Biomatlante

Advanced Medical Solutions (AMS), a surgical and wound care specialist, has announced its acquisition of Biomatlante SA, a company that develops and manufactures surgical biomaterial and technology.

AMS has agreed a sum of €8 million (approximately £7 million) in cash, with a potential further up to €0.3m due over the next two years.

Chris Meredith, CEO of AMS, said: “This acquisition is in line with our strategy to acquire technologies that are complementary to our surgical portfolio and allow us to leverage our global routes to market. The acquisition grants AMS access to multiple new markets, including the synthetic bone substitutes market which is estimated at $0.5 billion. We are excited to welcome the Biomatlante team to AMS and look forward to working together with them to accelerate the commercial success internationally and to continue to develop the Biomatlante technology in a wide range of potential applications and indications.”


Private Equity Group to Purchase Lumenis for $1bn

 

Private Equity firm Baring Private Equity Asia (BPEA) has purchased Lumenis from Hong Kong based XIO Group for an value in excess of $1 billion.
Lumenis is one of the world's largest developers of aesthetic laser, as well as medical laser systems used within ophthamology, urology, and gynecology and also sells radio-frequency devices.

Yan Jiao, Managing Director of BPEA said "Lumenis has built a market-leading position by creating some of the most innovative technologies in the industry. It is a clear leader worldwide, especially in Asia - which recently emerged as the largest market for medical and aesthetic treatments. We look forward to working with the CEO, Tzipi Ozer-Armon and management team to support their global growth aspirations."

The deal should be completed early next year, subject to regulatory approval.


Medical Systems Technologies Acquired by DirectMed Parts & Service

Medical imaging component provider, Medical Systems Technologies has been acquired by DirectMed Part & Service, an MRI system parts and services firm.
“In our 10-year history of working together, we have trusted Medical Systems Technologies with our most complex electronic repair requirements,” Brad de Koning, CEO of DirectMed Parts & Service, said “This acquisition accelerates our plan to vertically integrate and control additional key component repair capabilities and quality metrics.”

The acquisition will help Medical Systems Technology to expand allowing it to grow its customer base and provide further resources.

“DirectMed Parts & Service is the perfect home for Medical Systems Technologies,” said Bruce Smith, Founder of Medical Systems Technologies. “My team will greatly benefit from DirectMed’s larger customer base, financial and operating resources, and commitment to supplying parts and services for the most recent technologies.”


Consort Medical agrees takeover with Recipharm AB

Swedish pharmaceutical company Recipharm AB has agreed a deal to purchase drug delivery devices manufacturer Consort Medical. 
In the terms of the deal, Recipharm has agreed to pay 1,020p in cash for each consort share, valuing its entire issued share capital at an estimated £505m.
Consort CEO Jon Glenn said “Consort’s strategy has been to focus on expanding its businesses into new markets and geographic territories and on developing our combined drug/device offering, Recipharm’s capabilities and footprint in drug manufacture will enhance both our Bespak and Aesica businesses.

We believe that customers of both businesses will value the offering and enhanced scale of the combined business.”

The sale is expected to be completed in the first quarter of 2020.

"Movers and Shakers"

Global healthcare company, Abbott has announced Robert B. Ford will succeed Miles D. White as CEO on March 31, 2020.

HealthTech firm Doctorlink has appointed Rupert Spiegelberg as its new CEO.

Orthofix, a global medical device company focused on musculoskeletal healing products, has appointed Kevin Kenny as president of its global spine business, effective Dec. 5.

Women's healthcare company,Concepta has appointed Penelope McCormick as CEO.