Medical Devices Acquisitions in 2015

ALPHAEON Corporation has agreed to acquire substantially all assets of LENSAR, Inc. in a transaction valued at up to $59 million in cash, stock and assumed debt. The deal brings LENSAR’s femtosecond cataract laser technology into ALPHAEON’s lifestyle healthcare portfolio and expands ALPHAEON’s ophthalmology offering for its global network of ophthalmologists.

Patricia Industries, a division of Investor AB, agreed to acquire The Braun Corporation (doing business as BraunAbility), the U.S. market leader in wheelchair-accessible vehicles and wheelchair lifts. The deal, announced September 23, 2015, positions BraunAbility as a wholly-owned subsidiary of Patricia Industries to accelerate product innovation and global expansion; financial terms were not disclosed.

Anteo Diagnostics will acquire 100% of DIAsource ImmunoAssays SA for EUR15.4m (with a two-year vendor earn-out), expanding Anteo's product range, manufacturing capabilities and global distribution. DIAsource, headquartered in Louvain-la-Neuve, Belgium, reported EUR11.9m revenue in 2014 (EUR7.2m in H1 2015) and the combined business will total about 100 personnel; the deal is subject to financing and regulatory approvals.

Mi-Med Supply, a Vista, California–based medical supply provider, acquired Peaks & Plains Inc., a Spokane, Washington–based durable medical equipment and supplies retailer. The transaction, announced by advisor Generational Equity, closed April 30, 2015 and is intended to expand Mi-Med Supply’s retail offering and footprint on the West Coast, particularly in the Pacific Northwest.

Boston Scientific agreed to acquire Mountain View–based medical device company Xlumena, gaining the AXIOS and HOT AXIOS stent and delivery systems. The deal includes $62.5 million upfront, $12.5 million contingent on FDA clearance of HOT AXIOS and additional sales-based milestones, and is intended to expand Boston Scientific's endoscopy and EUS therapeutic capabilities and accelerate global commercialization of the AXIOS platform.

DePuy Synthes Companies has acquired Olive Medical Corporation, a Utah-based maker of high-definition visualization systems for minimally invasive surgery. The acquisition (financial terms undisclosed) adds arthroscopic visualization technology to DePuy Synthes' Mitek Sports Medicine portfolio and expands access to Olive Medical's solutions through DePuy Synthes' global distribution network.

Leixir Holdings, the Leixir Lab Group network, has acquired the dental laboratory solutions business of Knight Dental Group, Inc. Knight — an ISO 13485-certified full-service dental laboratory based in Oldsmar, Florida — will serve as Leixir's headquarters and center of technical competency as Leixir expands its North American network and market share.