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Now that Philips Electronics has acquired Respironics for $5.1 billion, there's all kinds of speculation that the other key manufacturers in the sleep market might be ripe for the picking. News of the Respironics deal last week boosted the stock of both ResMed and Fisher & Paykel significantly. If you donâ€™t own these stocks individually, maybe they are part of your 401k or IRA accounts. If you are out of luck in both cases, remember, there's more to life than money.
Here's some of whatâ€™s the being tossed around in the mainstream media about the sleep market and the Respironics deal:
Just Like Heaven full movie NEW YORK (Associated Press) - Shares of Respironics Inc. hit an all-time
high Friday, Dec. 21, after Dutch conglomerate Royal Philips Electronics NV bid $5.1 billion for the respiratory medical device maker. The news also pushed shares of rival ResMed up sharply.
Respironics shares rose $12.21, or 23 percent, to close at $65.32, having
hit a new high of $65.54 earlier in the session and approaching the $66 per
share buyout offer from Philips. The purchase price represents a 24 percent
premium to Respironics' closing price Thursday.
The deal shone a brighter spotlight on competitor ResMed, which saw shares
rise $6.10, or 13 percent, to $53.09. The stock has traded between $38.34
and $56.16 over the last 52 weeks.
"We view the acquisition as good for Respironics, a positive for ResMed, and
a signal that M&A is still alive and well in medical technology," said BMO
Capital Markets analyst Joanne Wuensch, in a note to investors.
Dec. 24 (Bloomberg) -- Fisher & Paykel Healthcare Corp., the New
Zealand-based maker of breathing masks to treat sleep disorders, rose to a
three-month high in Wellington after the takeover of a rival stoked
speculation about more mergers.
The Auckland-based company jumped 3 percent to its highest since Sept. 20, after Respironics Inc., the world's largest manufacturer of the breathing devices, was acquired by Royal Phillips Electronics NV for $5.2 billion in cash.
Fisher & Paykel has about 7 percent of the market for products to treat
obstructive sleep apnea, a condition thought to affect as many as 12 million
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Americans. It is among a handful of companies with U.S. Food & Drug
Administration approval to sell OSA devices, along with Respironics and
Poway, California- based ResMed Inc.
``They definitely could be a takeover target because the OSA market is very attractive with its high growth,'' said Stephen Walker, who manages the equivalent of $107 million at Walker Capital Management Ltd. in Auckland, including Fisher & Paykel shares. ``The Respironics acquisition ups the valuations of the sector to anyone else interested in it.''
ResMed, which is the second-largest maker of sleep apnea products after
Respironics, surged the most in more than two years on the New York Stock
Exchange after JPMorgan Chase & Co. analyst Alexander Smith said it may also generate takeover interest. It climbed 6.5 percent on Australia's stock