Medtronic, a medical technology solutions provider, has entered a definitive agreement to acquire Smith & Nephew’s gynaecology (GYN) business for a purchase consideration of $350m.
The acquisition will add GYN’s portfolio, which includes TRUCLEAR System, its critical medical technology platform for the removal of abnormal uterine tissue such as polyps and fibroids, to Medtronic. It will enable Medtronic to expand and strengthen its minimally-invasive surgical offerings.
Following the transaction, which is expected to be completed in August 2016, GYN’s business will become a part of Medtronic’s Surgical Solutions division.
Ondra Partners Ireland Limited and Davis Polk & Wardwell LLP are the financial advisor and legal advisor respectively, for the transaction.
Grifols, S.A., a pharmaceutical and chemical company, has invested $50m in Singulex to acquire 20% stake in the company.
Singuler is a developer and provider of single molecule counting (SMC) technology for clinical diagnostics and scientific discovery.
The investment also provides Grifols exclusive worldwide rights to commercialise and use Singulex’s technology for blood donor and plasma screening, enabling it to strengthen its diagnostics division.
To accelerate research, development and commercialisation of its technology, Purigen Biosystems has raised $18.2m.
Led by 5AM Venture Management LLC and Roche Venture Fund, the series A venture financing round has also seen the participation of existing investors, the Stanford-Startx Fund and Western Investments Capital LLC.
Based in the US, Purigen Purigen Biosystems develops technology platforms for the extraction and purification of nucleic acids.
Mazor Robotics, a robotic technology and product developer, has announced a public offering of its common stock.
The company will raise gross proceeds of up to $51.9m from the offering, which will be fully subscribed to by Medtronic, a leading Spine technologies and solutions company.
HTG Molecular Diagnostics and Bristol-Myers Squibb Company have entered a research agreement, which enables them to evaluate the potential for immuno-oncology molecular profiling in multiple tumour types.
The agreement also enables them to develop tools for molecular profiling research for immuno-oncology.