Several private equity firms are weighing a buyout of medical device and diagnostics maker Beckman Coulter Inc. (NYSE:BEC), according to news reports.
Blackstone Group LP (NYSE:BX), Apollo Global Management LLC and Kohlberg Kravis Roberts & Co (NYSE:KKR) are among a handful of investment firms interested in the Brea, Calif.-based company after news surfaced that it was looking at strategic options, including a sale, according to Reuters.
Goldman Sachs Group Inc. (NYSE:GS) is running the reported sale, which began a few weeks ago with Beckman Coulter management wooing potential buyers, which could also include rival companies.
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
BEC share prices increased about 26 percent from $57.09 after news of a possible acquisition broke last week — its highest price in more than two years — but the stock was fetching less in late-day trading today, closing down almost 3 percent at $70.03.
The buyout interest comes at the tail end of a rough year for Beckman Coulter, in which it suffered through consecutive quarters of poor financial results, an expensive recall and the resignation of CEO Scott Garrett in September.
Losses turned into significant earnings for the company in its latest three-month period. Beckman posted third-quarter net earnings of $67.0 million, or 95 cents per share, on sales of $893.8 million during the three months ended Sept. 30. That compares with earnings of $1.5 million, or 2 cents per share, on sales of $822.8 million during the same period last year.
Related articles
Using Informed Awareness to Transform Care Coordination and Improve the Clinical and Patient Experience
This eBook, in collaboration with Care Logistics, details how hospitals and health systems can facilitate more effective decision-making by operationalizing elevated awareness.
- Private equity interested in Beckman – sources (reuters.com)
- “Report: Beckman Coulter Up for Sale, Considering $5 Billion Price Tag (BEC)” and related posts (dividend.com)
- Beckman Coulter Shares Soared: What You Need to Know (fool.com)
- Beckman Said to Explore Sale After Approach From Buyout Firms (businessweek.com)
The Massachusetts Medical Devices Journal is the online journal of the medical devices industry in the Commonwealth and New England, providing day-to-day coverage of the devices that save lives, the people behind them, and the burgeoning trends and developments within the industry.
