Three upcoming transactions:
Medtronic aims to grow its presence in the enabling technologies and spine markets with the acquisition of Medicrea, a spine device company that includes artificial intelligence, predictive modeling and patient-specific implant offerings. Both companies’ boards of directors approved the transaction, which is expected to close by the end of 2020.
Stryker priced a $2.3 billion private offering of senior notes to finance the acquisition of Wright Medical Group, a device company focusing on orthopedic extremities and biologics. In April, Wright Medical shareholders gave conditional approval to sell assets to a Stryker subsidiary for $5.4 billion. The deal is set to close in the coming months.
Montagu Private Equity will acquire RTI Surgical’s original equipment manufacturer business in a $480 million cash deal. After the transaction closes, RTI Surgical will rebrand as Surgalign Holdings and President and CEO Camille Farhat will retire from the company. The deal is expected to close July 20.
More articles on devices:
7D Surgical radiation-free spine surgery system gets European approval
Medtronic to buy Medicrea for 22% above share price: 6 details
2 hospitals with new spine surgery programs
