Why Medtronic-Covidien Deal Will Lead To Strong 2015 Performance
By Eric Li
On Sunday, June 16th, 2014 medical device maker Medtronic (NYSE:MDT) announced its plans to buy Covidien (COV) for $43 billion in debt and stock, the largest transaction in medical device history. Each Covidien share was valued at $93.22, paid by $35.19 in cash and .956 Medtronic shares, representing a 29% premium to Covidien's closing stock price on June 14th. This will leave Covidien shareholders with 30% of the combined company, resulting in $850 million pre-tax cost synergies by the end of 2018.
The successful merger on January 27, 2015 marks Medtronic as the world's largest medical technology producer, surpassing the incumbent Johnson & Johnson (NYSE:JNJ). The closing price was $75.59 and shares are being traded on the NYSE under ticker "MDT".............continue reading
Deerfield Completes Purchase of IMRIS
Court approves transaction to investment management firm
MINNEAPOLIS, MN, August 19, 2015 – Deerfield Imaging (“Deerfield Imaging” or “the Company”) today announced completion of the acquisition of certain assets and liabilities of IMRIS Inc. (NASDAQ; IMRIS) Through this transaction, Deerfield Imaging purchased substantially all of the IMRIS® global imaging and service operations.
Deerfield Imaging is a wholly owned business of Deerfield Management Company, L.P. (“Deerfield”), a healthcare-focused investment firm that has been a lender to IMRIS since 2013. Deerfield was the prevailing bidder on July 24 in the sale of IMRIS Inc. through Chapter 11 proceedings. On August 12, the United States Bankruptcy Court for the District of Delaware approved the transaction..........continue reading
St. Jude Medical, Inc. recently announced that it has completed its acquisition of Thoratec Corporation.
In July 2015, St. Jude Medical ( Nasdaq: STJ ) announced its offer to buy Thoratec shares at $63.50 per share. The transaction is valued at about $3.3 billion.
Prior to the acquisition, St. Jude Medical’s heart failure portfolio included its CardioMEMS heart failure (HF) monitoring device, which received a limited FDA approval in 2014 specifically for use “in New York Heart Association (NYHA) Class III heart failure patients who have been hospitalized for heart failure in the previous year.”
Acquiring Thoratec augments that portfolio with Thoratec’s HeartMate II and Heartmate 3 LVADs (Left Ventricular Assist Devices), the CentriMag and PediMag Blood Pumps, and the Thoratec PVAD (Paracorporeal Ventricular Assist Device). The HeartMate II received FDA approval in 2008 for use in “patients awaiting further, perhaps more complex treatment, such as transplants” and in 2010 for use in “severe heart failure patients who are not acceptable candidates for heart transplantation.” Thoratec’s Heartmate 3 is a chronic mechanical circulatory support (MCS) device currently being considered for a CE Mark in Europe........Read more
markets its advanced robotic arm solution, joint specific applications for the knee and hip, and orthopedic implants for orthopedic procedures in the United States and internationally. The company offers MAKOplasty, a restorative surgical solution that enables orthopedic surgeons to treat patient specific osteoarthritic disease. It also provides robotic arm interactive orthopedic system (RIO) consisting of a tactile robotic arm utilizing an integrated bone cutting instrument; and a patient specific visualization component, which offers pre-operative and intra-operative guidance to the orthopedic surgeon, enabling tissue sparing bone removal, and accurate implant insertion and alignment.
In addition, the company offers MAKOplasty partial knee arthroplasty (PKA) products that enable resurfacing of one or two specific diseased compartments of the joint, preserving more soft tissue and healthy bone of the knee; and MAKOplasty Total Hip Arthroplasty, a surgical solution that enables orthopedic surgeons to perform total hip arthroplasty. MAKO Surgical Corp. was founded in 2004 and is headquartered in Fort Lauderdale, Florida.
As of December 17, 2013, MAKO Surgical Corp. operates as a subsidiary of Stryker Corporation. (NASDAQ SYK)
Key Executives for MAKO Surgical Corp.
Dr. Maurice R. Ferrér
Chief Executive Officer
Mr. Fritz L. LaPorte
Chief Financial Officer
Mr. Duncan H. Moffat
Senior Vice President of Operations
Mr. Menashe R. Frank
Senior Vice President
Mr. Lawrence T. Gibbons
Senior Vice President of Regulatory Affairs & Quality Assurance
Together with its subsidiaries, World Heart Corporation focuses on the development and commercialization of implantable ventricular assist devices (VADs) for adults, children, and infants suffering from heart failure in the United States. The VADs are mechanical assist devices that supplement the circulatory function of the heart by re-routing blood flow through a mechanical pump allowing for the restoration of normal blood circulation. The company’s products in development include PediaFlow VAD, which is a small magnetically levitated axial rotary VAD intended for use in infants and children; and MiFlow VAD, a miniature maglev rotary pump, intended to provide partial to full circulatory support in adult patients in an earlier stage of heart failure, as well as for late-stage heart failure patients. World Heart Corporation was founded in 1996 and is headquartered in Salt Lake City, Utah.
As of August 2, 2012, World Heart Corp. operates as a subsidiary of Heartware International Inc. (NASDAQ HTWR)
Key Executives for World Heart Corp.
Mr. Morgan R. Brown
Interim Principal Executive Officer
Mr. Jal S. Jassawalla
Chief Technology Officer and Executive Vice President
Dr. Bartley P. Griffith
Member of Clinical Executive Committee of Reliant Trial
Dr. James B. Young
Member of Clinical Executive Committee - Reliant Trial
Dr. James W. Long
Member of Clinical Executive Committee -Reliant Trial
develops, manufactures, and markets visualization solutions for minimally invasive surgery. The company offers 3DHD Vision System under the Viking brand, an advanced three dimensional (3D) vision system used by surgeons for minimally invasive laparoscopic surgery with applications in urologic, gynecologic, bariatric, cardiac, neurologic, and general surgery. Viking Systems, Inc. sells its 3DHD Vision System directly, as well as through distributors in the United States; and through its distributor network internationally.
The company also offers two dimensional digital cameras to third-party companies who sell to end users through their original design manufacturer programs and original equipment manufacturer programs. Viking Systems, Inc. was founded in 1998 and is headquartered in Westborough, Massachusetts.
As of September 24, 2012, Viking Systems, Inc. opertaes as a subsidiary of CONMED Corporation. (NASDAQ: CNMD)
develops flexible robot platforms for single-site surgical and interventional applications. The company develops robot platforms, which allow minimally-invasive procedures to replace open surgical procedures for various parts of the anatomy, as well as enable physicians to operate through non-linear circuitous paths from a single access point into the body. Its flexible robot platforms contain multiple open device channels to accept various flexible surgical and interventional tools, as well as on-board visualization. The company was formerly known as Cardiorobotics, Inc. and changed its name to Medrobotics Corporation in June 2011.
The company was founded in 2005 and is based in Raynham, Massachusetts. It has an operational facility in New England.
is a medical device company which focuses on developing surgical instruments for use in orthopedic procedures, such as hip, knee, spine, and skull-based surgeries; and other surgical sub specialties, including neurosurgery, spinal, and otolaryngology. It offers Navio PFS, which combines surgical planning and navigation platform that presents to the surgeon a virtual cutting guide with detailed visualization; and a hand-held robotic instrument, which enables the precision of robotics in the hand of a surgeon.
The company also offers surgical planning and navigation solutions that offer real-time feedback detailing implant placement, kinematics, and range of motion; and Robotics PFS for precision freehand sculpting.
Blue Belt Technologies was founded in 2003 and is based in Pittsburgh, Pennsylvania.
designs, manufactures, markets, and distributes orthopedic surgery products. The company offers adult reconstructive hip, shoulder, knee, and spinal implant products. It also provides orthopedic total joint, trauma, and spinal products; and orthopedic rehabilitation products for injury prevention and to treat patients with musculoskeletal conditions resulting from degenerative diseases, deformities, traumatic events, and sports-related injuries.
The company's products suit for various applications, patients, and surgeon requirements. It sells its products through a network of agents/distributors in Asia, Europe, Latin America, and the Middle East.
The company was founded in 1992 and is based in Austin, Texas. Encore Medical L.P. operates as a subsidiary of DJO Global, Inc
Key Executives for Encore Medical L.P.
Mr. Kenneth W. Davidson
Chairman and Chief Executive Officer
Mr. Paul D. Chapman
President and Chief Operating Officer
Mr. William W. Burke
Chief Financial Officer
Mr. Jack F. Cahill
President-Surgical Division and Executive Vice President
Mr. Scott A. Klosterman
President - Orthopedic Rehabilitation Division and Executive Vice President
engages in the design, development, manufacture, marketing, and servicing of image-directed surgical robotic systems for orthopedic surgery. The company offers ROBODOC Surgical System that includes ORTHODOC, a 3-D workstation for preoperative surgical planning; and the ROBODOC Surgical Assistant, a computer-controlled surgical robot that is utilized for precise cavity and surface preparation for hip and knee replacement surgeries. Its products are used for joint replacement surgeries in the United States and internationally.
The company was incorporated in 2007 and is based in Sacramento, California.
provides robotics technology and software automation solutions for healthcare facilities. It offers CytoCare, an automated solution for compounding hazardous sterile intravenous (IV) preparations; and i.v.STATION, an automated solution for compounding non-hazardous IV preparation.
The company also provides TPNstation, an automated solution for compounding sterile parenteral nutrition; and MEDarchiver, an integrated and workflow automation solution for the management of various clinical and administrative workflow-driven tasks at healthcare facilities. In addition, it offers OMM, an oncology medication management platform for managing oncology medication workflow; i.v.SOFT that enables pharmacy technicians, IV room supervisors, and pharmacy directors to compound and manage the manual production of IV admixtures; and i.v.Room of the Future that enables the situational awareness of the IV medication management workflow across the patient-care continuum.
Health Robotics Srl was founded in 2006 and is based in Bolzano, Italy.
Key Executives for Health Robotics S.r.l.
Mr. Werner Rainer
Chairman and Chief Executive Officer
Mr. Fabio Fioravanti
Chief Technology Officer
Mr. Gaspar G. DeViedma
Executive Vice President of Sales & Marketing and Director
The company sells its products through distributors in Italy and internationally.
designs, develops, tests, and manufactures medical-devices for minimally invasive laparoscopic surgery and catheter based medical treatments. It offers Surgical System, a laparoscopic surgical platform that allows abdominal procedures to be performed through a single incision in the belly button; and MicroLap, an instrument for micro laparoscopy surgery.
The company was founded in 2006 and is based in Morrisville, North Carolina. It has operations in the United States and European Union.
develops nerve monitoring systems for robotic surgeons to locate important nerve tissues in minimally invasive robotic surgeries. It offers ProPep Nerve Monitoring System, a nerve monitoring system that allows surgeons to identify the location of and monitor the integrity of critical pelvic nerves in real time throughout robotic prostatectomy procedures.
The company sells its products through its direct sales force and distributors in the United States; and specialty medical device distributors in Austria, Germany, Belgium, France, Bulgaria, Cyprus, Greece, Czech Republic, Denmark, Finland, Hungary, Ireland, Israel, Norway, Romania, Slovakia, Slovenia, Sweden, Switzerland, the United Kingdom, and South America.
ProPep Surgical, LLC was founded in 2010 and is based in Austin, Texas.
Key Executives for ProPep Surgical, LLC
Mr. Jon Schiff
Co-Founder and Vice President of Sales & Marketing
operates as a medical device company that develops surgical robotic guidance technologies integrated to digital 3D imaging for the spine, brain, and musculoskeletal markets. The company’s products include a line of advanced spinal implants. Its technology enables surgeons to perform minimally invasive and percutaneous surgical procedures.
The company was incorporated in 2011 and is based in Phoenix, Arizona.
is a medical device company which develops biologically-guided radiation therapy systems for treating solid tumors in the body. It produces its products by leveraging its positron emission tomography that allows tumors to continuously signal their location during treatment.
The company was founded in 2009 and is based in Burlingame, California.
Key Executives for RefleXion Medical Inc.
Mr. Samuel Mazin
Mr. Akshay Nanduri
Vice President of Business Development and Director
develops medical devices for hair transplantation. It uses image-guided robotic technology to perform hair restoration by emulating the FUE technique. The company was founded in 2002 and is based in Mountain View, California.
is a privately held company that develops medical devices. EndoMaster was founded in October 2011 by Dr. Louis Phee, Assistant Professor at the school of mechanical & aerospace engineering, Nanyang Technological University, Singapore, and Ho Khek Yu, Professor at the National University Hospital in Singapore.
Global front-line developers in the medical devices and robotics fields have been involved with EndoMaster.
MASTER, EndoMaster’s Robotic System, is a robotic-assisted surgical system for endoscopy that enables surgeons to perform incision-less surgeries. The system has been developed based on the results of basic research undertaken at Nanyang Technological University.
EndoMaster Pte Ltd is headquartered in Singapore and does not have any Key Executives recorded.
is a start-up company which develops in vivo robotic surgical devices that can be inserted through a single incision in the navel. The robots perform multi-quadrant surgery. The company was founded in 2006 and is headquartered at Lincoln, Nebraska.
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