Slowly, But Surely, Gyrus Builds a Specialty Surgery Business
Over the past two years, UK-based Gyrus Group has been transforming from an electromedical business built on its PlasmaKinetic technology into a more focused surgical device play focusing on tissue management and, more specifically, head and neck surgery.
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Dealmaking in the device industry is occasional and incremental when compared with the level of activity in pharmaceuticals, the result of that industry's maturing into a handful of dominant players, not all of which see acquisitions as strategically critical to their long-term success. The less-than-robust public market for small device companies is both symptom and cause of the device dealmaking lull. Because the markets they target are generally too small to sustain years of significant growth, few investors are willing to invest in them as stand-alone companies. And without long-term investor support, smaller firms have few options other than to sell out to large companies and little negotiating leverage when they do so.
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Agency commissioner appeals to AMA audience to communicate message that FDA review decisions are based on good science.