TE Connectivity to Acquire the Creganna
Switzerland-based TE Connectivity is acquiring Creganna Medical for $895 million in an all-cash transaction. Creganna, headquartered in Ireland, designs and manufactures minimally invasive delivery and access devices serving original equipment manufacturers. The acquisition establishes TE as a leading supplier to the fast-growing minimally invasive interventional medical device segment, the company says. Creganna, which is owned by Permira Funds, reported sales of roughly $250 million in 2015.
LivaNova Snags Japanese Approval
Japan’s Pharmaceuticals and Medical Devices Agency has approved LivaNova’s new generation of full-body magnetic resonance imaging-conditional pacemakers, according to the company. KORA 250 SR and DR pacemakers allow patients to undergo MRI scans on any region of the body. KORA 250 also features the automatic MRI mode, which makes scans safe for patients with pacemakers. It automatically detects the MRI scanner’s magnetic field and ensures appropriate pacemaker operation during the scan. After the scan, the device automatically returns to its initial configuration. As a result, KORA 250 minimizes the amount of time that patients experience MRI mode.
Intersect ENT Lands Designation
InEk, the German Institute for the Hospital Remuneration System, has assigned NUB Status 1 for reimbursement of Intersect ENT’s mometasone furoate implants for 2016, the company announced. The purpose of the NUB process is to support the introduction of innovative medical products by allowing a limited number of participating hospitals to receive reimbursement. NUB Status 1 is the highest priority designation available, and was only assigned to a minority of product submissions for 2016, Intersect ENT says.
Mauna Kea Expands Deal With Fujifilm China
Mauna Kea Technologies has expanded its partnership with Fujifilm China to commercialize the Cellvizio confocal laser endomicroscope for gastroenterological and pulmonary applications. With the recent Chinese FDA clearance for Cellvizio 100 series, Fujifilm China now is positioned to launch Cellvizio for bilio-pancreatic applications as part of its leading endoscopic ultrasound range of products, Mauna Kea says. “With our recent agreement with Cook Medical for urologic applications, we continue to further expand our strategic partnerships for a wide range of therapeutic applications for our unique endomicroscopy platform,” says Sacha Loiseau, founder and CEO of Mauna Kea.
Insulet to Divest Diabetes Supplies Business
Insulet is selling its Neighborhood Diabetes supplies business to mail order medical supply company Liberty Medical for $5 million in cash. The deal is expected to close in the first quarter of the year. Insulet adds that the transaction will enable the company to direct its resources toward driving continued growth of its OmniPod insulin management system. Danielle Antalffy of Leerink Research says in a note that the move is a positive one, as it allows Insulet to focus on Omnipod while shedding a slower growth business.