Deals this week: Thermo Fisher Scientific, Promepla, Rapid Medical


Medical equipment supplier Thermo Fisher Scientific intends to raise $802.62m in gross proceeds through a public offering of 2.875% senior notes due July 2037. To be issued at 99.76% of the principal amount, the notes will yield 2.891% upon maturity.

Concurrently, the company has priced another public offering to raise gross proceeds of $573.3m and 1.95% senior notes to raise gross proceeds of $802.62m.

Promepla and Cogentix Medical have signed an exclusive licensing agreement to launch an Endo-Urology product line in the US.

The product line, which includes a full suite of endo-urological devices such as ureteral access sheaths, gravity irrigation lines and nitinol guide wires, complement Promepla's existing urology product portfolio. The collaboration will leverage Cogentix's commercial activities to market the product in the US.

In a Series B financing round led by BRM Group and Shanghai-Israel Investment Fund, Rapid Medical has raised $9m.

The funds will be used to fund the commercialisation of Tigertriever revascularisation device and the Comaneci adjustable remodelling mesh – two of Rapid Medical’s minimally invasive stroke treatment and prevention products.

The round has also seen the participation of Winnovation and Gefen Capital.

Prefillable syringes supplier, Gerresheimer has secured an exclusive license from West Pharmaceutical Services for a syringe-safety solution, enabling the former to expand its portfolio of prefillable glass and plastic syringes.

Compatible with the licensee's well-established RTF (ready-to-fill) syringe portfolio, West Pharma's syringe-safety solution will be assembled on the syringe during the RTF production process.

"Bigfoot Biomedical will use the partner's FreeStyle Libre technology to develop the first personalised, user-friendly systems that will optimise insulin delivery without the need for finger stick calibration of a glucose sensor."

West Pharma manufactures and supplies prefillable syringes made of glass and plastics.

Rapid diagnostic testing solutions provider Quidel Corporation has signed a definitive agreement with Alere to acquire its Triage MeterPro cardiovascular (CV) and toxicology assets (Triage business), and the B-type Naturietic Peptide (BNP) assay business run on Beckman Coulter analysers (BNP business).

According to the agreement, the cardiovascular and toxicology business assets will be acquired for a cash consideration of $400m, while the assets relating to Beckman Coulter will be acquired for $40m in cash.

The acquisition will allow the acquirer company to diversify its business and secure a strong position in the point-of-care market.

Abbott Laboratories has signed a development and commercialisation agreement with Bigfoot Biomedical, a medical technology start-up based in California, US.

The agreement includes production and marketing of diabetes management systems developed by integrating Abbott Labs' FreeStyle Libre glucose sensing technology and Bigfoot Biomedical's insulin delivery solutions in the US.

Bigfoot Biomedical will use the partner's FreeStyle Libre technology to develop the first personalised, user-friendly systems that will optimise insulin delivery without the need for finger stick calibration of a glucose sensor.

Abbott will also supply its glucose measurement systems as exclusive sensors for Bigfoot's insulin delivery systems.