M&As this week: Medtronic, BioTelemetry, Labcyte
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M&As this week: Medtronic, BioTelemetry, Labcyte

01 Feb 2019 (Last Updated February 1st, 2019 12:12)

Medtronic has agreed to acquire EPIX Therapeutics for an undisclosed sum.

Medtronic has agreed to acquire EPIX Therapeutics for an undisclosed sum.

The acquisition will broaden the cardiac ablation portfolio of Medtronic by including EPIX’s flagship technology, DiamondTemp ablation system.

DiamondTemp is a closed-loop, temperature-controlled system that provides better feedback and control to doctors during an ablation procedure. The device will complement Medtronic’s cryoballoon technology, which is used to isolate pulmonary veins by using cryo energy.

EPIX’s wide range of tools enables efficient treating of cardiac arrhythmias patients.

The deal is expected to be complete by Medtronic’s fourth fiscal quarter.

Medtronic is a medical device company in Ireland. US-based EPIX is also a medical device company that focuses on designing and manufacturing catheter-based system.

BioTelemetry has agreed to buy Geneva Healthcare for a purchase consideration of $45m to be paid upfront and an additional $20m to be paid as performance-based earn-outs. The transaction is expected to close by the first quarter of 2019.

“The deal is expected to be complete by Medtronic’s fourth fiscal quarter.”

Geneva Healthcare provides a Cloud-based platform to collect data from the systems of various device manufacturers. BioTelemetry’s platform and services will be boosted by Geneva Healthcare’s platform.

The board of directors from each company has approved the acquisition.

Both parties are medical technology companies based in the US. BioTelemetry focuses on the development of remote and wireless medical technologies to deliver health information. Geneva Healthcare is a start-up that offers remote monitoring of implantable cardiac devices.

Beckman Coulter Life Sciences has acquired Labcyte, which will move to the Danaher Life Sciences platform of companies.

The acquisition gives Beckman Coulter access to Labcyte’s popular Echo® acoustic droplet ejection technology used in the company’s Echo Liquid Handlers. It will enhance Beckman Coulter’s workflow and integration capabilities.

Beckman is a scientific instruments company, which designs, manufactures and commercialises biomedical testing products. Labcyte is a medical device company that has developed acoustic liquid-dispensing technology.

Both companies involved in the acquisition are based in the US.