Deals and M&As this week: Imec, WBA, Generex Biotechnology

18 January 2019 (Last Updated January 18th, 2019 10:56)

Imec, Ghent University, Medtronic, and seven other partners of Horizon 2020 CARDIS project have developed a photonics-based medical device for screening arterial stiffness for easy identification of cardiovascular diseases (CVD).

Imec, Ghent University, Medtronic, and seven other partners of Horizon 2020 CARDIS project have developed a photonics-based medical device for screening arterial stiffness for easy identification of cardiovascular diseases (CVD).

The Horizon 2020 CARDIS project was initiated to develop a silicon photonics-based mobile, low-cost, point-of-care device for diagnosing cardiovascular diseases. European Union is funding the project under its Horizon 2020 programme.

Based on Laser Doppler Vibrometry (LDV) technology, the photonics-based device will help in easy identification of CVD with minimal physical contact with the patient. It was assessed in a clinical feasibility study involving 100 patients at the Georges Pompidou European Hospital in Paris, France.

Based in Belgium, Imec is a research and innovation hub focused on nano-electronics and digital technology. Medtronic is a medical device company based in Ireland.

Walgreens Boots Alliance (WBA) has entered a seven-year agreement with Microsoft to use digital technology to research and develop new methods of offering healthcare services.

Microsoft has agreed to provide its Cloud and artificial intelligence (AI) platform Azure and new retail solutions to WBA, as part of the agreement. It will also help WBA to achieve optimum customer reach and convenient locations, and provide outpatient healthcare services.

WBA intends to cover therapeutic areas such as preventative self-care and chronic disease management, through the partnership.

“Generex will pay stock valued at $1.4m, along with additional cash and stock consideration, upon satisfying certain commitments.”

The two companies also propose to deliver a low-cost and improved health outcome through a collaboration of healthcare and tech industries. They have agreed to invest in multi-year research and development (R&D) to develop healthcare solutions and set up joint innovation centres in certain important markets.

Based in the US, WBA is a global pharmacy-led health and wellbeing company and the biggest retail pharmacy, health, and daily living destination across the US and Europe.

Generex Biotechnology has agreed to acquire Pantheon Medical-Foot & Ankle and signed a letter of intent (LoI) for the same.

Generex will pay stock valued at $1.4m, along with additional cash and stock consideration, upon satisfying certain commitments.

Generex intends to add surgical devices to its commercial product portfolio through the acquisition.

Based in Canada, the acquirer company is an integrated healthcare company offering end-to-end solutions for patient-centric care from rapid diagnosis through delivery of personalised therapies.

The target company is engaged in manufacturing speciality orthopaedic surgery products and tools such as screws, plates, implants, and anchors for foot and ankle surgeries.