Cardinal Completes Cordis Buy
Dublin, Ohio-based Cardinal Health has completed its $1.9 billion acquisition of Johnson & Johnson’s Cordis cardiology and endovascular devices business. The deal will give Cardinal access to products in the cardiovascular, wound management and orthopedics fields. Integration efforts are expected to be completed over the next few years. The Cordis business will report to Don Casey, Cardinal Health’s medical segment CEO, who is a former J&J executive.
Medtronic to Halt Sales of Glucose Sensor
Medtronic is discontinuing sales of its Sof-sensor glucose sensor, effective Dec. 1. The devicemaker says the decision is not related to safety or performance issues, and technical support for the sensor will continue. The sensor is used with the Paradigm Real-Time insulin pump, Paradigm Real-Time Revel insulin pump and the Guardian Real-Time continuous glucose monitoring system.
TVA Medical Lassoes $15M in Funding
Austin, Texas-based TVA Medical has completed a $15 million Series C round of financing with the backing of new investors Baxter Ventures and Boston Scientific. Existing investors also joined the round. The investment will fund the continuation of clinical activities and accelerate market development of the EverlinQ EndoAVF System, a catheter-based technology designed to create hemodialysis access for chronic kidney disease patients.
ICU Medical Scoops Up Excelsior
San Clemente, Calif.-based ICU Medical has signed an agreement to acquire Excelsior Medical, a maker of devices used to disinfect and protect access into a patient’s bloodstream, for $59.5 million. ICU intends to sell the operating assets of Excelsior’s SwabFlush product and the prefilled saline and heparin flush syringes to Medline Industries for $27 million.
Hoya Buys Knecht & Müller
Tokyo, Japan-based Hoya has acquired prescription lens maker Knecht & Müller AG, expanding its footprint in Germany, Austria and Switzerland. Hoya produces eyeglasses, medical endoscopes, intraocular lenses and optical lenses, along with key components for semiconductor devices, LCD panels and hard disk drives. Terms of the deal were not disclosed. Following the acquisition, current Knecht & Müller Chairman Peter Müller will step down. Oliver Fischbach, general manager of Hoya Lens Germany GmbH, will take over his duties. Meanwhile, Igor Merhar, Knecht & Müller AG’s head of business development, will take over as country manager.
Novadaq Inks Deal With Arthrex
Novadaq Technologies has signed a co-marketing agreement with Arthrex, an orthopedic company. The agreement involves Novadaq’s Pinpoint upgrade kit, which allows the integration of its SPY imaging technology into Arthrex’s Synergy system, combining the fluorescence imaging and 4K white light endoscopic system.