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Medtech industry consolidation
TOPIC I
What impact is M&A consolidation activity having on the supply chain?
Charts, Charts baby
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Article
Examining the Medtech M&A Boom:
Global forces operating on the sector
© Copyright 2019
Data
Industry Data
Trends and Flows
With enterprise values (EVs) across all sectors at near all-time highs, it's no coincidence leverage levels have followed suit.
Livingstone curated a panel of CEOs, medical device manufacturers (OEMs), and private equity investors to discuss key drivers of the medtech M&A boom. We explored why medtech assets are trading at premium prices, asked how consolidation in the global medtech industry is impacting companies throughout the supply chain, and discussed what the future holds for medtech industry participants.
Karl Freimuth, partner and co-head of the US industrials practice at Livingstone moderated the discussion. Panelists included:
- Kevin Cordero, Stryker Craniomaxillofacial, Director, Clinical Research & Market Intelligence
- Hunter Craig, GTCR, Vice President
- Steve Sundberg, MedTorque, President & CEO
-
Chris Witham, Motion Dynamics, CEO
The panel addressed four headline topics involving the medtech sector, including i) industry consolidation, ii) risk factors, iii) growth & market opportunities, and iv) drivers of capital inflows & current M&A market conditions. Key highlights from the panel are outlined below.
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Risks facing medtech
TOPIC II
Rapid industry growth has introduced both opportunity and risk. What are the key risks facing executives today?
Medtech growth opportunities
TOPIC III
What is the next big thing in the sector from a technology perspective?
Market conditions & outlook
TOPIC IV
What are the drivers of capital inflows and robust M&A market conditions in the medtech sector?
Medtech: 2018 Year in Review & 2019 Outlook
2018 was a robust year for M&A activity in the medtech sector. Several noteworthy trades were completed in the sector including Avalign Technologies (orthopedic) acquired by Linden, DJO Global (orthopedic) acquired by Colfax, Integer’s orthopedic and surgical division acquired by Medplast / Viant, Cadence (broad portfolio of medical and surgical devices, diagnostics) acquired by Kohlberg, and Paragon Medical (surgical instruments and implantable components) acquired by NN Corporation.
Livingstone anticipates continued consolidation in the medtech sector with several companies expected to come to market in 2019.
Karl is a partner and co-head of Livingstone’s US Industrial practice, with particular transaction expertise in industrial technology, technical manufacturing, electrical equipment, medical device outsourced manufacturing, power generation, precision machining, capital equipment, and commercial & industrial services.
He has over 15 years of experience advising domestic and international mid-market companies on M&A transactions, debt and equity capital raises, and financial restructurings. Karl’s clients and counterparties have comprised multinational publicly-held corporations, entrepreneur and family-owned companies, private equity firms, and family offices investors. His experience also includes advising on numerous cross-border transactions.
Prior to Livingstone, Karl was a Vice President in Mesirow Financial’s Corporate Restructuring Group and a Senior Associate in KPMG’s Corporate Recovery practice.
Karl Freimuth
Partner, CHICAGO
+1 312 670 5909