M&As this week: Koninklijke Philips, Taeseung Consulting, Jiangsu Yuyue

11 May 2018 (Last Updated May 11th, 2018 14:55)

Koninklijke Philips NV has purchased NightBalance BV from private equity firm Gilde Healthcare Partners BV.

Koninklijke Philips NV has purchased NightBalance BV from private equity firm Gilde Healthcare Partners BV.

Based in the Netherlands, Koninklijke Philips is a developer and manufacturer of medical systems, while NightBalance, also based in the Netherlands, is a developer and marketer of devices for obstructive sleep apnea (OSA) treatment.

The acquisition will enable Philips to expand its sleep and respiratory care portfolio as well as expand its position in the home care market.

Taeseung Consulting has acquired 5.89% interest in IntroMedic Co Ltd by purchasing approximately 0.45 million shares.

Based in South Korea, IntroMedic is a medical devices manufacturer and distributor.

Varian Medical Systems Inc has completed the acquisition of Cooperative CL Enterprises, for an undisclosed sum.

Based in the US, Varian is a manufacturer of medical devices and software for treating cancer, while Cooperative CL Enterprises is a Taiwanese distributor of radiotherapy equipment.

The transaction enables Varian to work closely with its Taiwanese customers and provide advanced solutions and comprehensive services.

Jiangsu Yuyue Medical Equipment and Supply Co Ltd plans to purchase 38.37% interest in Shanghai Zhongyou Pharmaceutical Hi-tech Co Ltd for CNY537.28m ($84.5m).

“The transaction enables Varian to work closely with its Taiwanese customers and provide advanced solutions and comprehensive services.”

Based in China, Jiangsu is a medical equipment company, while Shanghai Zhongyou, also based in China, is a medical technology company.

CDH Investments intends to obtain 100% interest in Sirtex Medical Limited for A$1.9bn ($1.43bn).

The proposal is subject to multiple conditions, including approval by CDH’s investment committee and the approval of Australia’s foreign investment review board.

Based in China, CDH Investments is an asset management firm, while Sirtex is an Australian medical device company.

Chromedx Corp has signed an agreement to acquire UX Data Sciences Corp (UXD) in a share exchange transaction.

UXD will operate as a subsidiary of ChroMedX, following the acquisition.

Both Chromedx and UXD are medical technology companies based in Canada.

Permira Advisers LLP (Permira) plans to acquire a majority stake in Corin Orthopaedics Holdings Ltd (Corin) from Dea Capital Alternative Funds SGR SpA, Hunt Capital Group LLC, and other investors.

The investment will provide funds to advance the next stage of Corin’s development.

Based in the UK, Permira is a private equity firm, while Corin, also based in the UK, is an orthopaedic company.

Novanta Inc has completed the acquisition of UK-based inductive encoders supplier Zettlex Holdings Limited for an undisclosed sum.

Zettlex will operate as Novanta’s Celera Motion division, following the transaction.

Based in the US, Novanta is a technology provider to medical and advanced technology equipment manufacturers.