Ossur acquires Touch Bionics

Departments - FDA, Mergers, & Funding

3D surgical software approved; ResMed to acquire Brightree for $800M; FDA approves world’s smallest pacemaker; Ampronix acquires Perkins Healthcare Technologies assets; Stryker’s new acquisitions; completion of purchases

June 7, 2016

Ossur has acquired Touch Bionics Ltd., an upper limb prostheses and supporting services company, for $39 million. The acquisition allows Ossur to offer a complete bionic product portfolio to customers in the prosthetics industry. Synergies between the operations of Ossur and Touch Bionics are expected to be achieved during the next two to three years, ultimately increasing the pre-tax earnings margin of Touch Bionics to a level similar to Ossur.

“Touch Bionics has developed cutting edge upper limb technology and created a strong brand presence over recent years,” says Jon Sigurdsson, president and CEO of Ossur. “This acquisition is an important milestone for Ossur as it marks our entry into the upper limb prosthetic market. Ossur and Touch Bionics are committed to pushing the boundaries of bionic technology to enable amputees to live a life without limitations.” www.ossur.com

3D surgical software approved

The FDA has approved spineEOS, an online 3D planning software for spine surgery based on EOS stereo-radiographic 2D/3D imaging. The software is intended for treatment of adults suffering from degenerative or deformative spine conditions and pediatric patients with adolescent idiopathic scoliosis. Surgeons can create treatment plans to achieve optimal sagittal alignment from pelvic and vertebral 3D data obtained in the functional standing position from an EOS exam. Planned surgery and virtual post-correction 3D anatomy can be used to plan for the 3D shape and length of the spinal implants. Data can also be shared pre-operatively to engage patients in the intended course of therapy. It is also available in the operating room through a custom planning report. www.medtronic.com; www.eos-imaging.com

ResMed to acquire Brightree for $800M

ResMed officials have agreed to acquire privately-held Brightree, a business management and clinical software applications provider for the post-acute-care industry. Brightree’s cloud-based software helps customers improve clinical and business performance in home/durable medical equipment (HME/DME), home health, and hospice – all areas with high prevalence of sleep-disordered breathing, chronic obstructive pulmonary disease (COPD), and neuromuscular disease.

Brightree will continue to operate as a separate entity under the Brightree brand name, and will be managed independently, with its headquarters remaining in Atlanta, Georgia. ResMed expects Brightree employees, including President and CEO Dave Cormack, to continue in their current roles. www.resmed.com; www.brightree.com

FDA approves world’s smallest pacemaker

The U.S. Food and Drug Administration (FDA) has approved the world’s smallest pacemaker, the Medtronic Micra Transcatheter Pacing System (TPS), making it the first FDA-approved product with miniaturized pacing technology. Comparable in size to a large vitamin, the Micra TPS is small enough to be delivered through a catheter and implanted directly into the heart.

The Micra TPS attaches to the heart with small tines, delivering electrical impulses that pace the heart through an electrode at the end of the device. Unlike traditional pacemakers, it does not require leads or a surgical pocket under the skin, and responds to patients’ activity levels by automatically adjusting therapy. In clinical trials, the Micra TPS was successfully implanted in 99.2% of patients – 96% of patients experienced no major complications, 98.3% had low and stable pacing thresholds at six months, yielding projected average longevity for the device of more than 12 years. www.medtronic.com

Ampronix acquires Perkins Healthcare Technologies assets

Ampronix officials have announced the acquisition of two Perkins Healthcare Technologies’ product lines and service capabilities – the Perkins Scan Converter and Medical DVD Recorder lines. The Perkins acquisitions complement Ampronix’s growing image-enhancing product lines including SCANMAXX and DVMAXX.

“They have been very good products over the years and we are eager to continue our work with their medical imaging line,” says Nausser Fathollahi, Ampronix president and CEO.

“Perkins’ decision to sell some of its products and services included a careful evaluation of the other companies’ technical expertise and customer service,” says Richard P. Kincheloe, president of Perkins Healthcare Technologies. www.ampronix.com

Stryker’s new acquisitions; completion of purchases

Stryker’s acquisition of SafeWire’s product portfolio includes the Y-Wire guidewire and Tiger Jamshidi needle family for use in minimally-invasive spine surgery. The Y-Wire’s design mitigates potential wire-based complications, such as inadvertent advancement of the guidewire through bone, accidental pullout, kinking, or wire migration. The Y-Wire also reduces surgical steps and helps to optimize workflow for minimally invasive spine cases, and reduces patient and surgeon exposure to fluoroscopy.

Completing the acquisition of Physio-Control International Inc. adds monitors/defibrillators, automated external defibrillators (AEDs), and CPR-assist devices along with data management and support services to Stryker.

The completed acquisition adds Sage Products LLC solutions for oral care, skin preparation and protection, patient cleaning and hygiene, turning and positioning devices, and heel care boots.

The Synergetics USA Inc. all cash transaction by Stryker includes the Malis generator, Spetzler Malis disposable forceps, and Stryker’s existing Sonopet tips and RF generator. www.stryker.com

Livongo Health completes $44.5 million funding

Livongo Health officials have announced the completion of $44.5 million Series C financing that includes Merck Global Health Innovation Fund; Cowen Private Investments; Sapphire Ventures; Zaffre Investments, the investment arm of Blue Cross Blue Shield of Massachusetts; and Wanxiang American Corp., as well as existing investors General Catalyst, Kleiner Perkins Caufield & Byers, DFJ, and 7wire Ventures.

In recent months, Livongo Health’s growth trajectory increased significantly, driven by rapid adoption of its diabetes management solution among the country’s largest self-insured employers, payers, and healthcare providers. The new funds will be used to support that growth, accelerate the launch of new products and services, and expand into new market segments. www.livongo.com