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1. [verwijderd] 14 augustus 2007 19:42

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   Acquisition Rumors Flying—ARTC and NUVA Cited
   By Robin Young August 13, 2007
   We love traders. They’ve accurately predicted about 20 of the last 3 acquisitions. With three orthopedic deals in as many weeks (DJO being bought by ReAble, Kyphon being bought by Medtronic, and IsoTis being bought by Integra), the trader’s rumor mills are a-poppin’.
   
   Here’s the latest!!
   
   Two California-based companies; ArthroCare and NuVasive are rumored to be among the next likely orthopedic buyout targets. Industry sources cited by the Financial Times in London (although we suspect stock traders may be factoring in here somehow) said that ArthroCare, in particular, is an increasingly attractive target as one of few remaining spine product manufacturers not already owned by other firms, and would be a good fit for Stryker or Zimmer.
   
   Adding fuel to the speculative fire was Stryker CEO Stephen MacMillan’s comments last month that it has a “very strong cash position”, and has the capability to do much larger acquisitions. That’s true. Stryker has about $1.6 billion in cash.
   
   Of course, J&J has about $5 billion in cash. And the private equity guys have about a trillion dollars in cash.
   
   But, never let the facts get in the way of a good story. The Financial Times soldiered on in its recent rumor story and pulled these threads together (again, we’re sure we can hear the traders talking). “MacMillan said during the Goldman Sachs Annual Global Healthcare conference last month that acquisitions by the listed Michigan-based medical devicemaker, would be in the several hundred million-dollar revenue range, as opposed to the billion-dollar range. “People are waiting to see what Stryker is going to buy; people have rumored ArthroCare,” added an industry investor. An industry banker also said ArthroCare would be a good fit for Stryker or Zimmer, but has not heard whether this scenario was indeed a live situation. A second industry banker also concurred that ArthroCare would be a good target for Stryker.
   
   Of course, we note that Stryker Spine grew a very strong 30% in the last quarter, +26% for the six months. Right now that division of Stryker seems quite capable of taking share from its larger rivals without the benefit of a purchase.
   
   The Financial Times went on to note that buyers may be lining up for the last remaining pure spinal implant plays—which basically boil down to two companies—NuVasive and Alphatec. The two key public spine players that are not pure-spine players are ArthroCare and Orthofix.
   
   All we can say to such rumors is: from your ink stained fingers to God’s lips.
   
   
   
   
2. [verwijderd] 14 augustus 2007 19:46

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   All we can say to such rumors is: from your ink stained fingers to God’s lips.
   
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