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DuPont acquires Spectrum Plastics Group for $1.75bn

US-based DuPont reached a definitive agreement for the acquisition of specialty medical device maker Spectrum Plastics Group (Spectrum) from AEA Investors for $1.75bn. 

Spectrum serves medical device original equipment manufacturers (OEMs) in the electrophysiology, structural heart, surgical robotics, and cardiovascular markets. 

The proposed acquisition is complementary to DuPont’s existing product portfolio in the application areas of biopharma and pharma processing, medical devices, and packaging.

Source: Pharmaceutical Technology

Avertix Medical and BIOS to merge in $195m deal 

Avertix Medical (Avertix) has reached a definitive merger agreement with special purpose acquisition company BIOS Acquisition (BIOS). The business combination deal values Avertix at an enterprise value of $195m and is aimed at transforming it into a publicly traded entity listed on Nasdaq. It comes with a $40m minimum cash condition.

Source: Pharmaceutical Technology

Magenta Medical raises $55m for heart pump assistance device

Magenta Medical closed a $55m financing round led by OrbiMed. The funding, which had participation from existing investors New Enterprise Associates, Pitango VC and ALIVE – Israel HealthTech Fund, will go towards advancing clinical programmes in support of FDA approval of its percutaneous Left Ventricular Assist Device (pLVAD).

Source: Pharmaceutical Technology secures $50m for smartphone-powered kidney test raised $50m in Series D funding to accelerate the adoption of its smartphone-powered kidney test in the US. Schusterman Family Investments led the financing round, while participants also included Aleph and other existing shareholders. The Series D included a previously unannounced investment of $45m in February last year, along with the latest funding.

Source: Pharmaceutical Technology