MassDevice.com +3 | The top 3 medtech stories for August 26, 2015

Say hello to MassDevice +3, a bite-sized view of the top three medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.

 

3. Abbott denies St. Jude Medical buyout report

Abbott denied reports that it’s prepping a $25 billion offer for St. Jude Medical, but the rumor nevertheless propelled STJ shares up YY% this morning.

Investors were sparked by a Financial Times report of the potential offer. Abbott is working with banks on a cash-and-stock proffer, the newspaper report, citing people familiar with the situation. A deal between Abbott and St. Jude, which already jointly sell their cardiovascular products, would give the new entity stronger ground in negotiations with hospital customers, the newspaper reported. Read more

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2. Cardinal Health to buy NaviHealth for $410m

Cardinal Health said it paid $290 million for a majority stake in post-acute care management firm NaviHealth, in a 4-year deal worth $410 million.

The $290 million payout gives Dublin, Ohio-based Cardinal a 71% share in NaviHealth, the company said. NaviHealth’s Brentwood, Tenn.-based management team will continue to lead the business and principal investor Welsh, Carson, Anderson & Stowe will hold on to its stake, Cardinal Health said. Read more

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1. Greatbatch to buy out Lake Region Medical for $1.7B

Greatbatch said that it agreed to acquire Lake Region Medical for $1.73 billion in cash and stock.

Terms call for Frisco, Texas-based Greatbatch to pay $478 million in cash and some 5.1 million shares of stock (which closed at $49.89 per share, making that portion of the offer worth another $254.4 million). Greatbatch said it also agreed to assume $1 billion worth of Wilmington, Mass.-based Lake Region Medical’s debt Read more

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