When U.S. medtech companies acquire European firms, the deals tend to be worth much more than those of European firms taking over American concerns.
That’s according to a report by EP Vantage, which chalked the imbalance up to the fact that Europeanmedtech companies are generally smaller and less well-funded than their U.S. counterparts. Excluding Medtronic’s $50 billion purchase of Ireland’s Covidien, the biggest U.S. to Europe deals to date include:
- Johnson & Johnson’s $19 billion purchase of Synthes in 2012;
- Dentsply’s $14.5 billion merger this year withSirona;
- Baxter’s $4 billion takeover of Gambro in 2013;
- Thermo Fisher’s $3.5 billion purchase of Phadia in 2011.
In a technically in-Europe deal, Medtronic also agreed in May to buy Smith & Nephew’s gynecology unit for $350 million.
Novartis’ $51.6 billion staged takeover of Alcon, completed in 2010;The top five Europe-to-U.S. deals the service listed for 2010 to 2015 were:
- Endo International’s purchase of American Medical Systems in 2011;
- Covidien’s $2.6 billion acquisition of ev3 in 2010;
- Fresenius’ $1.7 billion of Liberty Dialysis Holdings in 2012;
- Grifols’ $1.7 billion purchase of Novartis’ blood transfusion business in 2013.
Endo later sold off the urology device business it landed through the American Medical Systems acquisition to Boston Scientific.
Read More: U.S. Medtech Is Taking Over in Europe
Nancy Crotti is a contributor to Qmed.
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