Zimmer Biomet Holdings, through its wholly-owned subsidiary, has acquired 1,406,151 shares of Medtech SA, a surgical robot company, from Ally Bridge Group at a price €50 ($55.15) a share. The transaction represents 58.77% stake in Medtech.
Zimmer has also announced that it will soon launch its wholly-owned subsidiary and mentioned the offer to acquire the remaining stake of Medtech at the same price, subject to AMF clearance.
The acquisition grants Zimmer access to Medtech's product portfolio, which includes two FDA-approved and CE-marked innovative robots for minimally-invasive brain and spine procedures (ROSA Brain and ROSA Spine) and also allows it to enter robotic development.
In a move to expand its laboratory products and services offerings, Sartorius AG has acquired US-based start-up ViroCyt, a virus quantification solutions provider, for a purchase consideration of approximately $16m.
The acquisition enables ViroCyt to further adopt novel approaches to virus quantification in the US and in international markets.
Switzerland’s implant, restorative and regenerative dentistry provider, Straumann Holding, has announced that it will exercise its conversion right and call option to acquire a controlling stake in South Korean implant manufacturer, Megagen.
The move follows Straumann’s agreement in March 2014 to purchase convertible bonds from MegaGen for a total of $30m. Pursuant to the agreement, Straumann has the right to convert the bonds into MegaGen shares.
An additional agreement allows the company to purchase additional shares in MegaGen to obtain a controlling stake.
Image: Medtech's ROSA Brain is an innovative robot for minimally-invasive brain procedures. photo: courtesy of Medtech.