A Medical Device Daily
IPC The Hospitalist Company (North Hollywood, California), a national hospitalist group practice company, said that it has acquired three related hospitalist practice groups: Omni Medical Diagnostics (Fall River, Massachusetts); Nexis Healthcare (Taunton, Massachusetts); and Park Medical Associates (North Smithfield, Rhode Island).
The three practice groups have a combined annualized volume of about 65,000 patient encounters. Omni, Nexis and Park are all located in New England states where IPC already has an established presence.
Scott Wilson MD, “IPC provides us the financial, management and technology resources we need to maximize our growth opportunity and provide high quality care to the hospitals we serve. Given the increasing demands being placed on local practices by hospital systems, plus the uncertainties hospitalists face in today's healthcare environment, joining forces with IPC is the smart move for local practices such as ours.“
In other dealmaking activity:
• Charles River Laboratories International (Wilmington, Massachusetts) said that it has acquired Accugenix (Newark, Delaware), a provider of cGMP-compliant contract microbial identification testing, for about $17 million in cash. This acquisition strengthens Charles River's Endotoxin and Microbial Detection1 (EMD) portfolio of products and services by providing clients with state-of-the-art microbial detection services for manufacturing in the biopharmaceutical, medical device, nutraceutical and consumer care industries. The acquisition is expected to be neutral to earnings per share on both a GAAP and non-GAAP basis in 2012. In 2013, it is expected to represent approximately 1% of total net sales and be slightly accretive to both GAAP and non-GAAP earnings per share.
Accugenix is an acknowledged industry leader in species-level identification and strain typing of bacteria and fungi that are recovered from manufacturing facilities. The company has invested in proprietary library databases which allow it to identify over 5,000 species of organisms. Utilizing state-of-the-art and proprietary in vitro technologies, coupled with scientific expertise and analysis, Accugenix excels in providing accurate, time-effective and cost-effective microbial identification services required to meet internal quality standards and government regulations.
• Medisafe 1 Technologies (Jerusalem), a developer of patented technologies that physically prevent unauthorized administration of prescription medications, said that it is in advanced negotiations to enter into a non-exclusive perpetual license agreement to transfer rights for the full commercialization, marketing and distribution of its patented medicinal locking mechanism and bar-code matching system.
Terms of the sale include a one-time payment of $7 million. The perpetual license agreement is anticipated to be signed within 60 days, pending the results of a due diligence study by the intended buyer.
The patented technology physically prevents medication administration errors in hospitals. The device includes a syringe locking mechanism that works in concert with a bar-code reader and database system.
The device electronically confirms whether the syringe held by a medical practitioner contains the correct medication and dosage that has been prescribed to a particular patient, before allowing that medication to be physically administered.
“We hope to soon announce the closing of the perpetual license sale, which will enable the wider distribution of our technology, and to fulfill the principles of our business plan,“ said Jacob Elhadad, CEO of Medisafe 1 Technologies Corp. “The sale, if completed will infuse Medisafe with much needed capital to further develop and market our proprietary, life-saving devices.“