M&A
Enovis inks eCential takeover to develop surgical ortho robots
Enovis announced on Tuesday that it will acquire eCential Robotics for an upfront payment of €155 million (approximately $180 million), aiming to strengthen its orthopedic surgical robot business. eCential previously developed the Velys spine surgical robot for Johnson & Johnson. Enovis plans to launch a knee robot by the end of 2028 and a shoulder robot in 2029. BTIG analysts believe this move fills Enovis's most significant competitive gap.
Stryker to add rotator cuff repair tech with ZuriMED buy
Stryker announced on Monday that it has signed a definitive agreement to acquire ZuriMED, a company based in Zurich, Switzerland, specializing in rotator cuff tear repair augmentation technology. The terms of the transaction were not disclosed. ZuriMED's FiberLocker system received FDA approval in late 2024 for use in rotator cuff repair surgeries to apply a polyester patch that supports healing and prevents re-tears. Stryker stated that this move will strengthen its rotator cuff product portfolio and serve shoulder specialists in the sports medicine and joint replacement fields.
AMS secures shareholder support for planned sale to H.B. Fuller
Advanced Medical Solutions Group's shareholders have approved the proposed sale to H.B. Fuller for 715 million pounds, as disclosed by H.B. Fuller on Thursday. The approval removes a significant obstacle, with the takeover expected to close by the end of the year. The acquisition aligns with H.B. Fuller's strategy to grow its medical EBITDA to $100 million in the near term.
Thermo Fisher closes $1.1B sale of microbiology unit to PE firm
Thermo Fisher Scientific finalized the $1.1 billion sale of its microbiology business to Luxembourg-based private equity firm Astorg. The unit, which generated $645 million in revenue in 2025, will operate independently under new CEO Dirk Bontridder.
Teledyne inks $1.1B takeover of Varex Imaging
Teledyne Technologies announced it will acquire Varex Imaging for approximately $1.1 billion; the latter primarily produces X-ray imaging components. The deal is expected to close early next year, subject to regulatory approval.
IRhythm grows heart monitoring leadership with $288M VitalConnect buy
iRhythm announced on Thursday that it has reached an agreement to acquire VitalConnect for $287.5 million, aiming to obtain its VitalPatch wearable cardiac monitoring device and thereby enter the broader mobile cardiac telemetry (MCT) market. The CEO of iRhythm stated that the deal will enable the company to cover the entire MCT market, expected to bring an incremental market opportunity of approximately $500 million. The transaction is expected to close by the end of the year, earlier than the FDA approval of Zio MCT.
KKR to take Integer private for $5.7B
KKR will acquire Integer Holdings at approximately $127 per share, valuing the deal at about $5.7 billion, a premium of over 51% to the closing price on April 29. Integer's board has approved the transaction, which is expected to close by the end of the year.
Cardinal inks 2 acquisitions in bid to expand at-home services
Cardinal Health announced two acquisitions on Monday: the purchase of AdaptHealth's diabetes business for approximately $235 million and multi-specialty supply company Strive Medical for about $125 million. The deals will strengthen its home care business, which contributed $1.7 billion in revenue in the third quarter of this fiscal year, with profits up 34% year-over-year.
Tempus to buy cancer test maker Personalis for $1.5B
Tempus AI announced on Monday that it has agreed to acquire cancer detection company Personalis for $1.5 billion, at a price of $16.25 per share, representing a premium of approximately 6% over Friday's closing price. The companies expect the transaction to close by the end of 2026 or early 2027, subject to shareholder and regulatory approvals. The acquisition will complement Tempus's MRD testing product line and leverage Personalis's strengths in tumor-informed testing.
Medtronic completes SPR Therapeutics acquisition
Medtronic announced on Thursday the completion of its $650 million acquisition of SPR Therapeutics, adding the Sprint peripheral nerve stimulation device to its neuromodulation portfolio. Sprint is FDA-approved to provide 60 days of peripheral nerve stimulation for pain treatment. Medtronic's Chief Financial Officer, Thierry Piéton, stated in June that neuromodulation is a strategic priority for the company, and this acquisition will drive its entry into a segment growing at over 20% annually.