September's Trade News Digest
We bring you up to date on the biggest financial deals, mergers, appointments and acquisitions in the Med tech Industry.
Heraeus Medical Components has announced its to acquire Via Biomedical
Heraeus Medical Components announced the acquisition of Via Biomedical, a medical device development and production company based in Minnesota.
Via Biomedical, an outsourcing partner for medical devices OEM companies, specialises in contract development, prototyping and the manufacturing of interventional medical devices such as catheters, balloons, stent delivery systems regularly used in cardiology, neurovascular, and peripheral vascular procedures.
“The acquisition of Via Biomedical is part of our continued investment to support our medical device customers in the vascular field,” said Heraeus Medical Components president Nicolas Guggenheim.
“Via Biomedical has an impressive track record with their engineering agility,” added David Ohmann, EVP of interventional solutions at Heraeus. “When you combine their strengths with our global reach and excellence in high-volume manufacturing, OEM medical device customers will be able to shorten development cycles and get innovative products to market faster.”
The terms of the acquisition were not disclosed.
Stryker acquires Mobius Imaging and Cardan Robotics
Medical Technology company Stryker has agreed a deal to acquire Mobius Imaging and its partner company Cardan Robotics for an initial $370m payment in cash, followed by an additional $130m in contingency payments for future developments.
Mobius, a medical imaging company founded in 2008, developed the Airo TruCT scanner that allows point-of-care imaging for neurosurgical, spinal and thoracic procedures as well as radiation oncology and accident and emergency departments.
Mobius' sister company, Cardan Robotics focusses on robotics and navigation technology for use during surgical and radiology procedures.
Stryker hopes the acquisitions will support the company's spinal division’s move into the intra-operative imaging market whilst complementing thier already established implant and navigational devices.
Stryker Orthopaedics and Spine group president Spencer Stiles said: “This acquisition brings expertise in advanced imaging and robotics as well as a robust product pipeline that adds to Stryker’s portfolio and will allow the Spine division to provide more complete procedural solutions, including sales, service, and support.
“We look forward to working together to advance Stryker’s mission to make healthcare better and accelerate our pursuit of category leadership in neurotechnology, orthopaedics, and spine.”
The deal is expected to close in the final quarter of 2019 and will be subject to any closing conditions.
Mayo Clinic Invests $1m in Medtech Startup
The Mayo Clinic has confirmed an investment of approximately $1m into a cardiac arrhythmia-detection startup company BioSig Technologies.
BioSig has completed its first in human study on its cardiac arrhythmia-detection system, Pure EP to determine the safety of the device during mapping ann ablation procedures.
The two companies have worked closely together for the past two years and the Mayo Foundation for Medical Education and Research also purchased 252,000 shares of BioSig common stock at $3.75 per share or $945,000 earlier this month.
When asked about the investment a Mayo Clinic spokesperson commented, “Mayo Clinic has collaboration with hundreds of medtech, biotech and life-sciences companies, and BioSig is one of them,” a clinic spokeswoman wrote in an email to Medical Design & Outsourcing. “While we acknowledge financial interest in BioSig, we do not disclose the specificities of our investment or financial arrangements with a company.”
"Movers and Shakers"
- Omar Ishrak is to step down as Medtronic CEO on 26 April 2020, following the end of the company’s current financial year
- Everstone-backed Everlife Appoints Raman Gandotra as Chief Executive Officer
- Innoblative Designs has named former Lumicell chief executive Kelly Londy as its new CEO
- Milestone Scientific announced the appointment of Brent W. Johnston as President of Milestone Scientific