Top Device Companies

J&J To Buy Micrus For $480 Million In Race With Covidien, ev3

Johnson & Johnson plans to buy Micrus Endovascular and its devices for preventing stroke for $480 million. The purchase is seen as an effort by J&J to remain a strong competitor of Covidien in the neurovascular sector of the market. Covidien said the previous week it would buy ev3 for $2.6 billion to obtain the same type of products.Boston Scientific also is a significant player in the sector and could take advantage of the increased interest as it undergoes a restructuring effort. (Click here for more – a subscription may be required)

“J&J To Acquire Micrus To Bolster Stroke Lineup” – Wall Street Journal (7/13/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

Covidien Of Ireland Seals $2.6 Billion Buyout of U.S.-based ev3

Covidien and ev3 have sealed their deal that calls for Covidien to pay $2.6 billion for the maker of endovascular-surgery devices. Ireland-based Covidien said it exercised its option to buy newly issued ev3 shares after it had finished buying about 87.7 percent of outstanding shares. Minnesota-based ev3 is to be merged with Covidien’s vascular-products business. (Click here for more)

“Covidien Completes $2.6 Billion Purchase Of ev3” – AP (7/12/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

ev3 Settles With Shareholders Opposed To Covidien Buyout

ev3 settled a class-action suit brought by stockholders opposed to the U.S. company’s sale to the Ireland-based Covidien. ev3 said the shareholders dropped their suit after reaching agreement with Covidien lawyers in a county court in Minnesota. The plaintiffs alleged Warburg Pincus, the controlling shareholder of ev3, had agreed to the $2.6 billion buyout offer as a way to get out of its investment in the firm. The settlement, subject to Delaware Court of Chancery approval, requires ev3 to agree to amendments to the merger arrangement. (Click here for more)

“ev3 Settles Covidien Sale Shareholder Lawsuits” -

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

Covidien $2.6 Billion Bid For ev3 Faces Shareholder Blocking Suit

Covidien’s bid to buy ev3 for $2.6 billion hit a snag when an ev3 shareholder filed a suit to block the sale. The suit claims the friendly takeover was arranged so the major investor and controlling shareholder of ev3 could get its investment back by taking advantage of its controls the nine-member board. The suit also seeks class-action status to include other shareholders who complain the sale was made for reasons other than for the financial merits of the offer, and would violate other laws. (Click here for more)

“Shareholder Sues To Block ev3 Sale To Covidien” – Reuters (6/22/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

ev3 Gets Expedited FDA Review Of Device For Brain Aneurysms

ev3 has won an expedited review by the FDA for its Pipeline device for treating cerebral aneurysms. The company, targeted for acquisition by Covidien, received the speeded-up review designation based on a promise the device would prove capable of improving brain aneurysms. The device consists of a wire coil delivered via catheter to the aneurysm to encourage blood to the surrounding clot. (Click here for more)

“FDA to Expedite ev3’s Pipeline” – Mass Device (6/21/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

Covidien Negotiates $1.25 Billion Loan To Aid $2.6 Billion Buy Of ev3

Covidien is negotiating a $1.25 billion loan from Morgan Stanley to enable it to acquire ev3. The Irish buyer announced earlier it would pay $2.6 billion to buy the American device maker. Several other major U.S. and foreign lenders also are sharing in the unsecured loan to Covidien. (Click here for more)

“Covidien Taps Morgan Stanley For $1.25 Billion Loan To Buy ev3” – Finance & Commerce (Bloomberg) (6/11/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

Covidien Plans $2.6 Billion Acquisition Of ev3, Vascular-Device Maker

Covidien said it plans to take overev3 for $2.6 billion, giving the buyer added strengths in devices for strokes and peripheral vascular diseases. Covidien already specializes in vascular devices, but ev3’s are for non-heart and brain vascular problems, a segment of the field considered saturated with device makers. Covidien expects significant growth in devices for neurovascular diseases and those for peripheral vascular diseases over the next five years. (Click here for more)

“Covidien To Buy ev3 For $2.6 Billion In Vascular Deal” – New York Times (Reuters) (6/1/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

Ev3, Medrad To Combine Devices For Pilot Trial In Europe

Ev3 and Medrad Interventional have signed a deal for Medrad to combine the firms’ catheter and plaque-removing products for a clinical trial. Together, they plan a European study to see if using both products can treat narrowing of blood vessels. Medrad is to supply its Cotavance drug-eluting balloon catheter so ev3 can insert its SilverHawk and TurboHawk Plaque Excision Systems to eliminate plaque and allow free flow in blood vessels. (Click here for more)

“Ev3 Signs Supply Deal With Medrad” – Business Week (AP) (4/12/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

Ev3, NeuroVasx Work On Device Technologies For Brain Aneurysms

Ev3 and NeuroVasx, both Minnesota-based, are working on device technologies for treating brain aneurysms. Ev3 is the recent owner of Chestnut Medical Technologies, which makes the stent-like device, Pipeline, used to divert blood from an aneurysm. The technique is seen as an alternative to the more expensive platinum coils marketed by device makers such as Boston Scientific and Johnson & Johnson as less expensive than surgery. (Click here for more)

“New Ideas For Treating Aneurysms” – Minneapolis Star Tribune (9/13/09)

Click Here To Find Out Why Medical Device Manufacturers’ Employee Training Programs Are Under FDA Scrutiny?

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Market & Industry Briefs

Article preview reprinted from Medtech Insight - June 2009

Brief summaries of recent medtech market and industry developments. This month we cover new developments in the CRM industry, Barrx Medical's breakthrough on RF ablation for for Barrett's esophagus, and CMS' decision not to cover computed tomography colongraphy for colorectal cancer screening.