MedTech 100 roundup: Up-and-down week for industry

Medtech stocks highlighted the topsy-turvy nature of the market last week, but ultimately finished the seven days nearly unchanged.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.77 points at the end of last week (Aug. 14). Overall, medtech stocks saw a 0.13% increase from the 89.65-point total at the same time a week prior (Aug. 7).

On Aug. 13, the index reached 90.4 points, a total that nearly poked past the previous mid-pandemic high (90.45), which came just last week.

The most recent high mark represents just a -2.1% dip from the Feb. 19 high point of 92.32, while the tally at the end of the week marks a -2.8% decrease from that pre-pandemic high.

Meanwhile, the S&P 500 Index saw a 0.64% increase from Aug. 7 to Aug. 14, and the Dow Jones Index fared even better, rising 1.8% over the same period of time.

Medtech’s lowest point during the COVID-19 pandemic remains at …

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BREAKING: Thermo Fisher drops bid for Qiagen

Thermo Fisher Scientific (NYSE:TMO) announced today that its offer to acquire Qiagen (NYSE:QGEN) in an $11.5 billion deal has lapsed.

According to a news release, more than 107.5 million shares of Qiagen (47.02% of the issued and outstanding ordinary shares for the company) were validly tendered into the offer by the end of the acceptance period on Aug. 10, leaving the minimum acceptance threshold condition (66.67%) unsatisfied and lapsing the offer.

Thermo Fisher terminated the acquisition agreement and will receive a $95 million cash reimbursement payment from Qiagen in accordance with the agreement.

“Thermo Fisher is a disciplined acquirer with a strong track record of executing value-creating transactions,” Thermo Fisher chairman, president & CEO Marc Casper said in the release. “We remain extremely well-positioned to deliver on our proven growth strategy and continue to generate significant returns for our shareholders.”<…

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AdvaMed unveils COVID-19 diagnostic supply registry

AdvaMed announced today that it created a comprehensive national COVID-19 diagnostic supply registry to aid state and federal pandemic responses.

According to a news release, AdvaMed is launching the registry in partnership with 13 commercial diagnostics manufacturers: Abbott (NYSE:ABT), Becton Dickinson (NYSE:BDX), bioMérieux, Bio-Rad Laboratories (NYSE:BIO), Beckman Coulter, Cepheid, Hologic (NSDQ:HOLX), Ortho Clinical Diagnostics, Qiagen (NYSE:QGEN), Roche Diagnostics, Sekisui Diagnostics, Siemens Healthineers (ETR: SHL), and Thermo Fisher Scientific (NYSE:TMO).

The AdvaMed registry is designed to compile information from the diagnostic companies, along with public data, to create a centralized and standardized COVID-19 diagnostic supply registry to update on weekly numbers at state and national levels regarding molecular, antigen and serology tests shipped in the U.S.

AdvaMed said in the release that the registry will also help streamline communicati…

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Thermo Fisher boosts offer for Qiagen

Thermo Fisher Scientific (NYSE:TMO) has boosted its per-share offer price for Qiagen (NYSE:QGEN) after some shareholders reportedly balked at the original offer for the sample and assay tech company.

Thermo Fisher Scientific is now offering €43 per QGEN share, up from the previous €39 per share offer, at the same time that the companies have agreed to reduce the minimum acceptance threshold to 66.67% from the previous 75%. The deal remains valued at about $11.5 billion.

Shareholders in recent weeks had questioned the original per share offer, with Hedge Fund Davidson Kempner calling the offer “wholly inadequate,” according to Reuters.

Both companies’ boards have approved the acquisition.

Qiagen in March received an FDA emergency use authorization for a COVID-19 diagnostic test.

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