Medtronic Inc to acquire orthopedic implant maker China Kanghui
Medical technology company Medtronic Inc has agreed to make payment of $816 million for orthopedic implant maker China Kanghui Holdings Inc.
The maker of heart-rhthym devices expands its fractures and spinal treatment business in the emerging markets. The Minneapolis-based company said in a statement, the pacemaker and spinal implant supplier will pay $30.75 per American depositary receipt in a transaction worth $755 million net of Kanghui’s cash.
The price is about 22% more than the most recent closing level for the ADRs.
Chris O’Connell, President of Medtronic’s Restorative Therapies Group said, “Kanghui brings Medtronic a broad product portfolio, a strong R&D and manufacturing operation, a vast China distribution network and an exceptional management team.” Mr. Chris also said, “The deal provides advantages in the fast-growing Chinese orthopedic segment, as well as a foothold in the emerging global value segment in orthopedics.”
The agreement will close in the next few months. According to the statement, the deal will help Medtronic widen its offerings in neurosurgery and orthopedic.
Medtronic, Inc is based in suburban Minneapolis, Minnesota. It is the world’s largest medical technology company and is also a Fortune 500 company. Medtronic has six main business units that develops and manufactures devices and therapies to treat chronic diseases including heart failure, Parkinson’s disease, urinary incontinence, obesity, chronic pain, diabetes and spinal disorders. Kanghui Medical is China’s leading orthopedic companies offering wide range of products in trauma, spine and surgical instrumentation. The company markets its products in China and in over 28 international markets.
Dexcom: changing the lives of people with type 1 diabetes
It is estimated that 9.3% of adults around the world are living with type 1 diabetes, which amounts to a total of 463 million people. A further 1.1 million children and adolescents under the age of 20 are living with the condition.
Unlike the more prevalent type 2 diabetes, where the body still produces insulin and symptoms develop slowly, people with type 1 diabetes need regular insulin injections or pumps, and must monitor their sugar levels frequently.
In recent years a number of remote glucose monitoring systems have become available that patients can use at home. These work with a sensor, usually placed under the skin, that measures glucose levels every few minutes. This information is then transmitted wirelessly to a device like a smartphone or tablet, which can then be shared with their clinician.
British actress Nina Wadia's son Aidan, 14, has type 1 diabetes, and has been managing his condition using Dexcom, a glucose monitoring system used by patients all over the world. Here Wadia explains how Dexcom has improved their lives.
As a parent of someone with type 1 diabetes, what is your day-to-day life like?
Being able to take a breath, think and pivot constantly without getting frustrated becomes an essential mindset because sometimes it feels like each day is determined to be different from the day before. Whatever worked yesterday is going to misfire today.
Which areas of yours and Aidan’s life are most impacted by diabetes?
The one thing that you have to fight hard to reclaim is spontaneity, especially when it comes to food and exercise. It’s only when this is taken do you realise how essential each one is. You can be flexible and there are no real limits, but only in the sense that a great athlete can be flexible without limits because they’ve trained super hard to be that way. So we’ve all had to become athletes when it comes to being spontaneous.
How has Dexcom helped you and Aidan?
Dexcom has brought future science fiction to real life today. The continuous glucose monitoring system is tiny, sits discreetly on his body and gives him a ten-day breather between sensor changes, so it's goodbye finger-pricking seven times daily.
Dexcom is totally active at a grass roots level and for Diabetes Awareness has pledged to donate £2,000 if #DexcomDiabetesStories and/or #DexcomWarriorStories is shared 200 times! I’ll be sharing more on social media and would love to hear how other families are winning their fights.
Maybe most importantly Dexcom is trying to introduce a reimbursement programme for type 1 diabetes patients which will give greater access to modern, life changing hi-tech. I want to spread the word on the importance of accessing it through this campaign.
If you compared your life today with how it was before Aidan was using Dexcom, what has changed?
It's always working, which lets him take his mind off diabetes for longer stretches. It also lets me get off his back. We both receive alerts so I no longer have to pester him by asking him what his number is, and especially importantly, I don’t have to wake him at night to prick his finger if I’m worried. Dexcom gave us back our sleep!