• FoxHollow Technologies (Redwood, City, California) said it has signed a definitive merger agreement to acquire Kerberos Proximal Solutions (Cupertino, California), a privately held company focused on the development of medical devices for the removal of thrombus from occluded arteries for $32 million in cash and stock. According to FoxHollow, Kerberos’ thrombectomy device is expected to complement its existing product offerings, which are designed to remove plaque from clogged arteries. Of the $32 million that FoxHollow has committed to the deal, about $13 million is expected to be paid in the form of stock. FoxHollow also may make earn-out payments after each of the second and third years following the transaction, based on 2-1/2 times that year’s sales less the value of all prior payments. The earn-out payouts may be made in cash or stock at FoxHollow’s sole discretion. The thrombectomy system developed by Kerberos includes a catheter with a trigger-like handle, which simultaneously rinses and aspirates thrombus from arteries. Thrombus is a common problem in many patients with coronary artery disease and peripheral artery disease. The Kerberos system, which is FDA-approved, can also deliver physician-specified therapeutic solutions to the site of the arterial blockage. The transaction is expected to close by the end of 3Q06 and will have minimal impact on FoxHollow’s revenue during the third and fourth quarters of this year, the company said.

• MIV Therapeutics (MIVT; Vancouver, British Columbia), a developer of biocompatible coatings and advanced drug delivery systems for cardiovascular stents and other implantable medical devices, said it has entered into an agreement to acquire Vascore Medical (Suzhou, China), a manufacturer of cardiovascular stents and other medical devices. MIVT proposed purchase calls for the payment of $1 million in cash and the issuance of 4 million restricted common shares, at a price of $1 per share, over a period of time and subject to release based on certain escrow milestones. MIVT said that the proposed acquisitions will provide it with extensive design, manufacturing and marketing capabilities. Vascore, founded in 2001, has been distributing its cardiovascular stents and other biomedical products throughout China since 2002.