M&As this week: Tiger X Medical, Straumann Holding, Patricia Industries AB

25 August 2016 (Last Updated August 25th, 2016 18:30)

Orthopedic medical device company, Tiger X Medical, and BioCardia, a regenerative medicine company developing novel therapeutics for cardiovascular diseases, have agreed to merge and form a combined entity, which will be called BioCardia.

Orthopedic medical device company, Tiger X Medical, and BioCardia, a regenerative medicine company developing novel therapeutics for cardiovascular diseases, have agreed to merge and form a combined entity, which will be called BioCardia.

The new company, which is expected to have $23m in cash at closing, will focus on ongoing Phase-III heart failure trials and will use the funds to commercialise and develop other product candidates and for other general corporate purposes.

Straumann Holding has agreed to acquire another dental implant company, Equinox Medical Benelux, in a transaction that is expected to be closed in September 2016.

"Equinox will gain access to Straumann’s resources, which will allow it to continue its development efforts and dynamic growth in the value segment."

Equinox will gain access to Straumann’s resources, which will allow it to continue its development efforts and dynamic growth in the value segment.

Straumann will benefit from Equinox’s networks, infrastructure and local expertise, which will enable it to enter the emerging Indian market where the demand for reliable, effective and affordable tooth replacement solutions is high.

In a bid to enhance its portfolio of wholly-owned subsidiaries in Nordics and North America, Patricia Industries AB, a subsidiary of Investor AB, a Swedish investment company, has agreed to acquire majority stake in Laborie Medical Technologies, an innovative medical devices provider, from Audax Private Equity.

Laborie Medical will become Patricia’s new subsidiary, following the transaction, which is expected to be completed in Q3 2016.