Sterling Healthcare Logistics announced Friday that it has acquired Aggregate365, a medical group purchasing organization. Sterling, a Las Vegas Nevada company was founded in 2013 and provides supply chain management technology solutions for the healthcare industry throughout North America. Aggregate365, founded in 2017, specializes in negotiating contracts from health systems to independent providers including physician buying groups, providing procurement support and contract management. With the acquisition of Aggregate365, Sterling is enhancing its portfolio of contracts and services that can be offered to all Sterling members.
Vizient will purchase the group purchasing organization Intalere from Intermountain Healthcare, the organizations announced Thursday. The acquisition comes with a commitment from Intermountain to use Vizient’s group purchasing portfolio; the Salt Lake City-based integrated system already uses Vizient’s cost and quality analytic tools. Although Intalere only accounts for around $6 billion in annual purchasing volume across its some 100,000 members compared to Vizient’s $100 billion, half are in the non-acute space, where there is opportunity for growth, Vizient CEO Byron Jobe said.
Teleflex Incorporated (NYSE:TFX), a leading global provider for healthcare supplies and services, today announced it has entered into a definitive agreement to acquire privately-held Z-Medica, LLC, an industry-leading manufacturer of hemostatic products. Under the terms of the agreement, Teleflex will acquire Z-Medica for an upfront cash payment of $500 million at closing, and up to an additional $25 million upon the achievement of certain commercial milestones.
Avidity Science announced Monday significant steps in expanding its global leadership in biomedical research solutions via the acquisition of Bio Medic Data Systems, Hydropac®, Lab Products, Inc., and Harford Systems. These investments expand Avidity’s portfolio of water purification and delivery products, control and monitoring solutions, and service capabilities to enhance its support of the global biomedical research community. “We are excited about this investment as it adds critical products, capabilities, and services to our industry-leading biomedical research portfolio,” said Doug Lohse, chief executive officer, Avidity Science. “Bio Medic Data Systems, Hydropac®, and Lab Products are recognized leaders in innovation, and we will now be able to offer the most comprehensive and technologically-advanced portfolio of products and services to support biomedical research around the world.”
Dutch medical supplier Mediq has been put up for sale by its private equity owner Advent in a potential 1.2 billion euro ($1.4 billion) deal, sources close to the matter said. Advent, which is working with Rothschild ROTH.PA and HSBC HSBA.L on the sale, has organised management meetings for prospective buyers, which have been asked to hand in non-binding bids in the first week of November, they said. Buyout groups such as CVC, Bain, BC Partners, Triton and Pamplona are expected to bid, they added.
HealthLynked Corp (OTC: HLYK), a global healthcare network focused on care management of its members and a provider of healthcare technologies that connects doctors, patients and medical data, today announced that it has acquired MedOfficeDirect, LLC (“MOD”), a Naples, FL based virtual distributor of discounted medical supplies selling to both consumers and medical practices. The acquisition includes aggregate consideration valued at up to $6.0 million.
STERIS plc (NYSE: STE) (“STERIS” or the “Company”) today announced that the Company has signed a definitive agreement to purchase Key Surgical, a portfolio company of Water Street Healthcare Partners, LLC, through a U.S. subsidiary for $850 million. STERIS anticipates that the acquisition will qualify for a tax benefit related to tax deductible goodwill. Adjusting for the present value of the anticipated tax benefit, the purchase price is effectively reduced to approximately $810 million. Key Surgical, founded in 1988, is a leading global provider of consumable products serving hospitals and surgical facilities. Annual revenue for Key Surgical in calendar 2020 is anticipated to be approximately $170 million, with adjusted EBIT of approximately $50 million.
Exxe Group, Inc. (OTC PINK: AXXA), a diversified company focused on synergistic acquisitions in critical, fast-growing industries, has acquired a controlling interest in Swiss medical supply company MMeditech GmbH. MMeditech’s primary revenue drivers are focused on the provision of globally sourced, high-use consumable medical supplies. These include hygiene products, syringes, bandages, and sterilization materiel.
Laborie Medical Technologies (LABORIE), a leading diagnostic and therapeutic medical technology company, in partnership with Signet Healthcare Partners, a growth equity firm specializing in healthcare investments, announced the close of the acquisition of GI Supply, a leader in specialty endoscopy and paracentesis products for gastroenterologists, colorectal surgeons, and interventional radiologists. GI Supply will continue to operate as an independent entity led by its CEO Kristi Dahlke, and its existing leadership team. Concurrently with the acquisition, Ashley Friedman, Managing Director at Signet Healthcare Partners, will join the board of directors at GI Supply.
Windjammer Capital (“Windjammer”) is pleased to announce it has signed an agreement with Patricia Industries, a part of Investor AB, to sell Advanced Instruments, LLC (“Advanced Instruments”, “AI” or the “Company”) for an enterprise value of $780 million. Founded in 1955 and headquartered in Norwood, Massachusetts, Advanced Instruments is a global provider of scientific and analytical instruments for the clinical, biotechnology, and food and beverage industries. The Company has a diverse portfolio of products, including freezing-point depression osmometers, jar systems for bacterial cultivation, automated cell counters, cryoscopes, pasteurization test systems, and testing standards and controls.
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