MassDevice.com +3 | The top 3 medtech stories for February 1, 2016

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. Medtronic gets into renal care with Bellco acquisition

Medtronic said that it acquired renal care products make Bellco for an indisclosed amount and plans to fold it into a newly created renal care solutions division.

Fridley, Minn.-based Medtronic said Mirandola, Italy-based Bellco makes devices designed to treat end-stage renal failure, multiple organ failure and sepsis, including dialyzers and chronic and acute dialysis machines. The products are on the market in more than 50 nations, Medtronic said. Read more

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2. Medtech M&A madness: Abbott to pay nearly $6B for Alere

Abbott said that it agreed to put nearly $6 billion on the table for diagnostics giant Alere, saying it aims to become the leading point-of-care testing provider with annual sales of more than $7 billion.

Abbott Park, Ill.-based Abbott said it agreed to pay $56 per share for Waltham, Mass.-based Alere, marking a roughly 51% premium over the $37.20 Jan. 29 closing price for ALR shares. The stock was trading at $54.65 apiece in pre-market trading today, up 46.9%, before subsiding to $53.80 per share in early trading this morning. ABT shares were down -1.8% to $37.16 apiece in early activity. Read more

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1. Stryker to pay $2.8B for Sage Products ‘never event’ devices

Stryker said that it inked a deal to pay nearly $2.78 billion for Sage Products and its line of disposable devices designed to reduce so-called “never events” in intensive care and surgery settings.

Cary, Ill.-based Sage makes products for oral care, skin preparation & protection, patient cleaning & hygiene, turning & positioning and heel care. Sales for the company, which is owned by private equity firm Madison Dearborn Partners, grew 13% to $430 million last year, Stryker said. Read more

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