Haemonetics and Hillrom deals add to medtech’s 2021 M&A fever
Another day, another medtech deal. The strong start to M&A in medtech is showing no sign of slowing as Haemonetics yesterday unveiled a $475m up-front swoop for Cardiva Medical, confirming this January as the best for acquisitions in over 10 years. Haemonetics, whose shares have benefited from rising demand for plasma-based medicines, is adding to its hospital offering with the buyout. Cardiva’s main attraction is its Vascade MVP vascular closure technology, usually used after aortic catheter surgery and other procedures. Haemonetics' announcement comes hot on the heels of Hillrom’s $375m cash play for Bardy Diagnostics, in the hopes of integrating Bardy’s wearable bio-sensing technology into its existing cardiac devices portfolio. Some are putting the recent flurry of medtech deals down to the Covid-19 pandemic accelerating the trend for adopting digital technologies and connected care, as underlined by Philips’ recent $635m takeout of Capsule. However, more traditional companies like Haemonetics are looking to increase scale by adding complementary businesses to their core operations. With companies continuing to adapt to the new world order presented by the pandemic, M&A is likely to remain a key focus in 2021.