Boston adds to furious deal-making pace

Snippets

At $925m up front, Boston Scientific’s acquisition of the remote cardiac monitoring technology group Preventice is the biggest medical device deal since... 10 days ago. The start to 2021 has been nothing short of spectacular, with M&A deals worth more than $10bn having been announced so far in January. And a trend is emerging: as with Hillrom’s purchase of Bardy Diagnostics two days ago and Philips’s $2.8bn acquisition of Biotelemetry last month, the technology in focus comprises wearable cardiac monitors and software allowing patients to be evaluated remotely. In Preventice’s case the tech includes short and long-term Holter monitors – a sort of portable electrocardiogram – as well as cardiac event monitors and mobile cardiac telemetry. The deal follows Boston’s preferred pattern, whereby it invests in the company first before buying it outright; the company first invested in Preventice in 2015, and currently holds an equity stake of around 22%. Preventice recorded net sales of $158m in 2020, up 30% – a notable contrast to Boston, whose unaudited 2020 net sales fell 8% to $9.9bn.

Medtech merger madness: 2021's M&A so far
 Date Acquirer Target Value ($m) Principal technology
Jan 4 Dentsply Sirona Byte 1,040 Dental - clear aligners
Jan 4 Hologic Somatex Medical Technologies 64 General & plastic surgery - cancer biopsy tech
Jan 5 Hologic Biotheranostics 230 In vitro diagnostics - cancer
Jan 7 Perkinelmer Oxford Immunotec 591 In vitro diagnostics - infection
Jan 12 Steris Cantel Medical 4,600 Sterilisation
Jan 15 Thermo Fisher Scientific Viral vector manufacturing business of Novasep 879 Viral vector manufacturing
Jan 19 Philips Capsule Technologies 635 Healthcare IT
Jan 19 Thermo Fisher Scientific Mesa Biotech 550 In vitro diagnostics - infection
Jan 19 Hillrom Bardy Diagnostics 375 Cardiology - remote heart monitoring
Jan 20 Haemonetics Cardiva 475 Cardiology - vascular closure
Jan 21 Boston Scientific  Preventice Solutions 925 Cardiology - remote heart monitoring
Note: only deals with known values. Source: EvaluateMedTech & company releases.

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