TPG Capital/Immucor - Top 10 medical device deals of 2011

Companies: TPG Capital/Immucor
Value: $1.97 billion

Scoop: Over the summer, Immucor, which makes tests to screen blood before transfusions, entered an agreement to be acquired by investment funds managed by TPG Capital in a deal worth just under $2 billion.

"Immucor has been at the forefront of improving transfusion medicine for nearly 30 years and has a proven track record of creating value," said then-President and CEO Joshua Levine. "Partnering with TPG will allow us to continue with our commitment to deliver innovative technologies that meet our customers' needs and improve patient safety."

Analysts were quick to praise the deal. Immucor is "a great franchise, it's got awesome margins and it's a cash machine that has no debt," David Turkaly, a Susquehanna Financial Group analyst, told Bloomberg at the time. "They have the best mousetrap, the best product for typing and screening blood, which is why they have a dominant share of the market."

Meanwhile, Avondale Partners analyst Daniel Owczarski commended Immucor for doing "a great job of automating the blood typing process and bringing in latest technologies to what used to be a manual process." Furthermore, "there is some competition but nothing that has been able to slow them down," he added, according to Reuters.

Subsequent to the announcement of the deal, former Medtronic ($MDT) chief Bill Hawkins (pictured) was tapped as the CEO.

TPG Capital/Immucor - Top 10 medical device deals of 2011
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