BD and Apax Partners Forms Joint Venture to Launch Global Respiratory Business

BD and Apax Partners announced the launch of a joint venture – Vyaire Medical – a standalone, global respiratory solutions company. The closing finalizes the sale of 50.1 percent interest in BD’s Respiratory Solutions business to funds advised by Apax Partners, a leading global private equity firm. Vyaire Medical includes all business lines within BD’s Respiratory Solutions business, including Ventilation, Respiratory Diagnostics, Vital Signs and AirLife, and will have estimated annual revenue of over  $800 million. BD will retain a 49.9 percent minority interest in the new company.

BD’s Respiratory Solutions facilities will transfer to the new company, including locations in Yorba Linda, Calif.; Palm Springs, Calif.; Plymouth, Minn.; Mexicali, Mexico; Cotia, Brazil; Hoechberg, Germany and Shenzhen, China. The new company will employ more than 5,000 associates around the world.

BD plans to use net proceeds for share repurchases, subject to market conditions. In fiscal year 2017, due to the limited profitability of the business today, BD anticipates earnings dilution of approximately $0.10 to $0.14, net of share repurchases. The company expects to record a material tax loss on the transaction at the time of closing.

A press release is available from BD website.

Masimo continuous respiration rate Monitor CE approved

Masimo announced the CE Marking of RAS-45, a single-use adult and pediatric acoustic respiration sensor for rainbow Acoustic Monitoring® (RAM) of respiration rate (RRa®).

Continuous monitoring of respiration rate is especially important for post-surgical patients receiving patient-controlled analgesia for pain management. The Anesthesia Patient Safety Foundation (APSF) and The Joint Commission recommend continuous oxygenation and ventilation monitoring for all patients receiving opioid-based pain medications.1,2 RAM noninvasively and continuously measures respiration rate using an innovative adhesive sensor with an integrated acoustic transducer, such as Masimo’s RAS-125c and now RAS-45, that is applied to the patient’s neck. Using acoustic signal processing that leverages Masimo’s breakthrough Signal Extraction Technology (SET®), the respiratory signal is separated and processed to display continuous acoustic respiration rate (RRa). RRa has been shown to be accurate, easy-to-use, and reliable, and to enhance patient compliance.RRa may facilitate earlier detection of respiratory compromise and patient distress, offering a breakthrough in patient safety for post-surgical patients and for procedures requiring conscious sedation.

RAS-45 is designed to facilitate placement on and improve attachment to the neck, but with a smaller adhesive profile than the RAS-125c. It is flexible and uses a transparent adhesive. Like the RAS-125c, it operates with Masimo MX technology boards to measure RRa and display the acoustic respiration wave form. RAS-45 maintains the same performance parameters, range, and accuracy specifications as RAS-125c. Both sensors are for patients who weigh more than 10 kg.

Joe Kiani, Founder and CEO of Masimo, commented, “RAM harnesses the power of our breakthrough signal processing technology, using Masimo SET® and rainbow® technologies, and applies those achievements to a respiratory measurement derived from the sound of breathing. Studies have found that RAM RRa is more sensitive to detecting respiratory pause5 and yet easier for clinicians and patients to use.

A press release can be found from Masimo Website.

CardiacAssist Announces Rebranding as TandemLife

CardiacAssist, Inc. announced a rebranding of the privately-held company and will begin to do business as TandemLife as it rolls out several new product lines to hospitals worldwide. Following the FDA clearance of its TandemLung® oxygenator, the new TandemLife company is focused on making advanced cardiac and respiratory support technology available to more patients by providing medical devices that deliver on its mission of Life Support Simplified™.

In North America, less than 2% of patients who experience a cardiac or respiratory emergency currently receive care with advanced cardiopulmonary support, in part because the complexity of such therapy has restricted its use to only the largest, most advanced hospitals. With TandemLife, hospitals can deploy a single pump and controller platform upon which all of the company’s products operate, eliminating the need to train and certify hospital staff on multiple different systems. For cardiac support, a physician may choose the classic TandemHeart procedure, the ProtekDuo procedure available since late 2014, or the new TandemLife procedure, depending on each patient’s individual needs. Likewise, for patients experiencing respiratory dysfunction, either the TandemLife or TandemLung procedures may be appropriate. By offering multiple circulatory support options on a single platform, hospitals can turn to TandemLife as a premier, single-source provider of a comprehensive system to control healthcare costs without sacrificing the quality of care.

More nformation can be found from TandemLife website by clicking this link.

BD Sold Respiratory Business to Apax Partners

BD (Becton, Dickinson and Company) sold her Respiratory Solutions business to Apax Partners, with the latter as the majority owner of new Company.

BD announced in a press release, that —

‘BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, today announced a definitive agreement to sell 50.1 percent of its Respiratory Solutions business to funds advised by Apax Partners, a leading global private equity firm, and form a joint venture that will operate as a new, independent Company.

The new company will include all business lines within BD’s Respiratory Solutions business including Ventilation, Respiratory Diagnostics, Vital Signs and AirLife, and have estimated annual revenue of approximately $900 million. BD’s Respiratory Solutions facilities will transfer to the new company, including locations in Yorba Linda, Calif.; Palm Springs, Calif.; Plymouth, Minn.; Mexicali, Mexico; Cotia, Brazil; Hoechberg, Germany and Shenzen, China. The new company will employ more than 5,000 associates around the world. BD will retain 49.9 percent of the company as a significant but non-controlling minority owner.

The completion of the transaction is subject to pending regulatory approval, consultations with employee representative bodies in Europe and customary closing conditions.’

The press release can be found from BD Website by clicking this link.