Dutch life sciences company DSM launches $360-mn bid for US firm Kensey Nash
04 May 2012
Dutch life sciences company DSM yesterday launched a $360 million takeover bid for US medical device maker Kensey Nash Corp in order to strengthen its biomedical business.
DSM is offering $38.50 a share in cash, a 33 per cent premium to Kensey closing price on 3 May. The offer values Kensey's outstanding shares, including about $15 million in equity options and awards, at around $335 million.
Exton, Pennsylvania-based Kensey, which has about 325 employees, focuses on regenerative medicine utilising its proprietary collagen and synthetic polymer technology.
It makes medical device parts in cardiology, orthopaedics, sports medicine, spine, trauma, craniomaxillofacial and general surgery.
Kensey has developed a leading arterial closure device using resorbable collagen, synthetic polymer technologies and device engineering expertise. The company has developed a large catalogue of technologies that are used to create high-quality products and devices.
Its mechanical devices, collagen processing and synthetic polymer technologies and products like bone mineral and extracellular matrix as also other products provide a solid foundation to develop an expansive variety of innovations in regenerative medicine.
Since 1984, Kensey claims that more than thirty million of its products have been successfully implanted in patients worldwide.
With more than 22,000 employees and annual sales of around €9 billion, NYSE Euronext-listed DSM is a science-based company active in health, nutrition and materials.
