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Device and diagnostics companies both suffered declines in fundraising compared with previous quarters. The biggest medtech acquisition was Stryker’s $1.4 billion buyout of MAKO, while in diagnostics BioMeriux’s $450 million purchase of BioFire topped the list.
Derived from Strategic Transactions, Elsevier Business Intelligence’s premium source for tracking life sciences deal activity, the Dealmaking column is a survey of recent health care transactions listed by relevant industry segment – In Vitro Diagnostics, Medical Devices, and Pharmaceuticals – and then categorized by type – Acquisition, Alliance, or Financing. This month’s column covers deals announced September through October 2013.
In the in vitro diagnostics world, flow cytometry is a highly specialized, labor intensive niche, aimed at sophisticated analysis of intact whole cells. Dako Cytomation was formed in July to try to make inroads into this field, which some see as an area poised for growth. The merger of Dako and Cytomation, however, has infuriated Dako's former partner, Partec, a small German company focused on industrial applications of flow. Partec, however, is coming up with a new strategy for expanding its limited presence in human healthcare.
The Dako-Cytomation merger gives both companies things they've wanted for some time. Denmark-based Dako, a leading global supplier of IHC reagents and systems, gets a solid instrument platform and a stronger presence in the US. US-based Cytomation, an aggressive maker of high-speed flow cytometry instruments, gets a world-class marketing partner and a high-quality reagent house. The businesses complement each other, with almost no redundancies, say both companies' CEOs.
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