Zynex Acquires Kestrel Labs

Teledyne Technologies Acquires Varex Imaging in an ~$1.1B All-Cash Deal

August 10, 2026

Medical Devices

Teledyne Technologies Incorporated entered into a definitive agreement to acquire Varex Imaging Corporation for $18.90 per share in cash. The transaction is valued at approximately $1.1 billion (including Varex equity awards and net debt) and is expected to close in early 2027, subject to regulatory approvals and Varex stockholder approval.

Aurinia Pharmaceuticals to Acquire Kezar Life Sciences for $6.955 Per Share Plus CVR

March 31, 2026

Biotechnology

Aurinia Pharmaceuticals has entered into a definitive merger agreement to acquire Kezar Life Sciences in a cash tender offer followed by a merger. Kezar shareholders will receive $6.955 per share in cash plus a non-transferable contingent value right (CVR) tied to potential future milestones and proceeds from Kezar’s legacy assets/collaborations.

Altivera Medical Acquires Zynex Following Bankruptcy Resolution

March 27, 2026

Medical Devices

Zynex, Inc. has been acquired by Altivera Medical Holdings, LLC in a deal approved by the U.S. Bankruptcy Court for the Southern District of Texas. The acquisition follows Zynex’s Chapter 11 restructuring and resolution of pending government investigations.

Stratus Team Acquires Kestrel Engineering Group

February 10, 2026

IT Services

Stratus Team, LLC has acquired Kestrel Engineering Group, expanding Stratus’ geographic reach into the Northwest and Upper Midwest while deepening its industrial process facilities engineering capabilities. The combined teams will provide multi-discipline engineering and project delivery across the full project lifecycle for energy, oil and gas, metals, and chemicals clients, with Kestrel’s teams remaining in place.

Linden Capital Partners Acquires Alcresta Therapeutics

March 12, 2024

Medical Devices

Chicago-based private equity firm Linden Capital Partners has completed its acquisition of Alcresta Therapeutics from a group led by Athyrium Capital, with Bessemer Venture Partners, Frazier Healthcare Partners and HealthQuest Capital also selling (HealthQuest reinvested as a minority shareholder). Linden will work with Alcresta's management and a newly assembled board to support the commercial launch of the next-generation RELiZORB device and accelerate R&D and growth.

Vectrus Acquires Zenetex

December 28, 2020

Aerospace & Defense

Vectrus, Inc. agreed to acquire Zenetex for approximately $112 million (net of $11 million of expected tax benefits) to accelerate its converged infrastructure strategy and broaden capabilities in engineering, logistics, MRO, and security for defense and intelligence clients. The acquisition expands Vectrus' access to Intelligence Community and foreign military customers; Zenetex is headquartered in Herndon, Virginia and had roughly $200M in revenue with a backlog of over $700M.