Medtech in a Minute: BD Pounces on Critical Care Opportunity, and More

BD Pounces on Critical Care Opportunity

Edwards Lifesciences had planned to spin off its critical care business to focus on its structural heart business. BD saw that news as an opportunity to expand its smart connected care portfolio and become a leader in advanced monitoring technologies. BD said earlier this week it will pay $4.2 billion for the business.

Giving up the Grail

Grail is expected to become an independent public company on June 24. Illumina plans to spin off the cancer blood testing company, which expects to trade on Nasdaq as “GRAL.” This will bring to an end a chapter of Illumina's history in which the company forged ahead with an $8 billion acquisition despite the deal being under investigation by antitrust regulators. Illumina will, however, maintain a minority share of 14.5% in Grail.

Steris Makes Workforce Cuts

Adding to a growing list of companies making workforce cuts in 2024, Steris said it will eliminate “less than 300 positions” to increase profitability and efficiency. The layoffs amount to about 1.7% of the company's global workforce of 18,000.