MDF Medical Instruments sells $3bn to Ireland – Irish Times

The Medical Instruments Group (MIF), which owns and operates some of the world’s largest medical equipment companies, has sold $3.5bn of its shareholding in the medical device maker Biostar to Ireland’s Anglo Irish Bank.MIF will retain a majority interest in the company, which has about 70 per cent of its market share in the US.

Biostar, based in Mountain View, California, said it had “a very positive, positive outlook for its future and a strong cash position” after receiving the investment.

Its share price has increased by over 10 per cent in recent weeks and now trades at about $8.70, about $100 more than its IPO price.

The deal was announced in a letter sent by Biostars chief executive John Boulton and senior vice president of finance Richard Pignatelli.

It comes after the company announced it had raised $5.2bn in funding from venture capital firms Andreessen Horowitz, Union Square Ventures, Kleiner Perkins Caufield & Byers and others.

Mif also said it would remain an investment vehicle for Biostara, as part of its strategy to become a diversified, global, sustainable technology company.

The news was greeted with optimism by some analysts.

The Irish stock market was the world leader for the first time last year, with a rally of 6 per cent, or $7.70.

In its letter, Boulson said that the combination of the two companies will allow Biostark to become an attractive investment vehicle in the future.

“We look forward to continuing to support our Biostarr brand through a diversification of investments that will deliver long-term value and growth,” he wrote.

The company has been heavily criticised by its customers, including a group of doctors who say that BiostAR’s prices have become too high.

The medical device makers have also been criticised for not providing enough information about its products.