Health Care Deal News: Spotlight on Medical Devices- August 2012
There were a handful of medical device acquisitions in July, but all of them were relatively small. Teleflex Incorporated (NYSE: TFX) purchased Hotspur Technologies, a developer of innovative catheter-based technologies aimed at restoring blood flow for patients with obstructed vessels. Hotspur developed the VisioValve Injection System. The upfront payment was $15 million, plus regulatory and revenue milestones. The Hotspur technologies will broaden and strengthen Teleflex’s portfolio of products.
In another small deal, Milan, Italy-based Sorin Group (MIL: SRN) purchased California Medical Laboratories, which manufactures and distributes a complex range of cannulae, catheters and accessories for cardiac surgery. Its products are sold in more than 45 countries, and it had revenues in 2011 of about $8 million............Want to read more? Click here for a free trial to The Health Care M&A Information Source and download the current issue today