Wallaby Medical completed the acquisition of phenox for $542m.

Wallaby Medical, a medical technology company, completed the acquisition of phenox, a medical equipment manufacturing company, for $542m. "The acquisition is a natural next step in the relationship of both companies and a transformational step in achieving our vision of saving the most lives affected by stroke. The Wallaby-phenox combination will have deep roots in Europe and China, with a strong presence in the U.S., and a recent entrance into the Japan market. By combining the highly complementary product pipelines of the two companies, we will be able to offer a full spectrum of world-class interventional neurovascular products and solutions. The broadened product portfolio, enhanced R&D capability and expanded geographic coverage will provide Wallaby-phenox with an unparalleled competitive edge as we strive to become a global leader in the neurovascular market," Michael Alper, Wallaby Medical CEO.