It’s like a game of Pac-Man in the medical device industry lately with medical technology companies gobbling each other up.
The trend is spurred as companies try to expand their array of products and cope with increased downward pricing pressures from hospitals.
Already this year, two big industry acquisitions have been announced: Franklin Lakes, N.J.-based Becton Dickinson & Co. will acquire C.R. Bard in a $24 billion deal and Johnson & Johnson Inc. will buy Actelion Ltd. for about $30 billion.
The acquisitions continue a consolidation trend in the device industry that kicked off in 2015 when Medtronic Plc finalized its purchase of Covidien Plc for $49.9 billion. In 2016, Abbott Laboratories announced it was buying St. Jude Medical Inc.
The only question now is: Who’s next?
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