• AstraZeneca (London) reported it is selling its Astra Tech (Mölndal, Sweden) dental company to Dentsply (York, Pennsylvania) for $1.8 billion. Dentsply said that it has committed financing in place from Morgan Stanley. The company intends to finance the transaction with a combination of cash on hand, commercial paper and long-term debt. The firm said that the transaction, which is expected to be completed before the end of 2011, is subject to receipt of approval from certain antitrust authorities.

• Cambridge Heart (Tewksbury, Massachusetts), a developer of non-invasive diagnostic tests for cardiac disease, said that it has reached an agreement with its OEM partner, Cardiac Science (Bothell, Washington), to include the company's proprietary Microvolt T-Wave Alternans (MTWA) Module on every new Q-Stress System sale beginning July 11. In order to maximize the commercial benefit of this initiative, Cambridge Heart and Cardiac Science have agreed to include the MTWA Module in all new Q-Stress Systems at no incremental cost through the end of 2011.

• Cynosure (Westford, Massachusetts) said it has acquired the assets of the aesthetic laser business of HOYA ConBio (Fremont, California), a subsidiary of Japan-based HOYA, for $24.5 million in cash. The acquisition expands Cynosure's product portfolio with the addition of HOYA ConBio's PhotoAcoustic energy technology, which uses high-speed energy waves to penetrate the skin in nanoseconds, minimizing the amount of heat in each procedure, according to the company. HOYA ConBio has an installed base of more than 3,200 aesthetic laser systems worldwide.

• Immucor (Norcross, Georgia), a provider of automated instrument-reagent systems to the blood transfusion industry, said it has entered into a definitive agreement to be acquired by investment funds managed by TPG Capital (Fort Worth, Texas) in a transaction valued at about $1.97 billion. The transaction is expected to close in the second half of 2011.

A group of private equity investors have officially offered to buy Kinetic Concepts (KCI; San Antonio) for $68.50 a share in a cash deal valued at $6.3 billion (including KCI's outstanding debt). KCI, a company that makes high-tech wound care products, went public in early 2004 through an initial public offering that raised nearly $621 million. The consortium is comprised of funds advised by private equity firm Apax Partners, together with controlled affiliates of Canada Pension Plan Investment Board (CPPIB) and the Public Sector Pension Investment Board (PSP Investments).

• Luminex (Austin, Texas) has closed its acquisition of EraGen Biosciences (Madison, Wisconsin), a developer in molecular diagnostic testing technologies for infectious disease and genetic applications, for $34 million in cash. Luminex expects the EraGen acquisition will add between $5 million and $7 million to 2011 consolidated revenue. EraGen makes molecular diagnostic testing for infectious disease and genetic applications. The acquisition provides Luminex with access to a complementary portfolio of molecular diagnostic assays based on a technology platform called MultiCode.

• Medtronic (Minneapolis) reported that it would acquire PEAK Surgical (Palo Alto, California) in a transaction valued at $120 million and Salient Surgical Technologies (Portsmouth, New Hampshire) in a deal worth a total of $525 million. PEAK specializes in surgical instruments based on its PlasmaBlade technology. The PEAK PlasmaBlade consists of a family of disposable cutting devices with insulation technology that offers the exacting control of a scalpel and the bleeding control of traditional electrosurgery with minimal thermal tissue damage. PSalient is the developer of the Aquamantys bipolar sealer for use in blunt dissection.

• PhotoMedex (Montgomeryville, Pennsylvania), a company that develops excimer laser, LED light systems and skin care products for dermatological applications has agreed to acquire Radiancy (Orangeburg, New York), a maker of home-use and professional aesthetic and dermatological devices. PhotoMedex will issue about 14.5 million shares of common stock to Radiancy shareholders.

• Qiagen (Venlo, the Netherlands) said it has entered into binding agreements to buy roughly 61% of Ipsogen (Marseilles, France), a company that develops molecular profiling and personalized healthcare diagnostics for a broad range of applications in the field of hematology. The company recently reported that it was in exclusive negotiations to purchase a 47% stake in Ipsogen from these shareholders for $101 million. Qiagen said at that time it would subsequently initiate a public tender offer for the remaining shares at the same price if the offer was accepted. The acquisition of Ipsogen will provide access to a broad range of assays covering 15 biomarkers used worldwide for the diagnosis, prognosis and monitoring of patients with various blood cancers, Qiagen said.

• Signal Genetics (New York), a predictive genetic testing company focusing on oncology, and DiagnoCure (Quebec City), a company that develops and sells cancer diagnostic tests, reported a collaboration agreement valued at $13.3 million over the first five years. The agreement aims to maximize the commercialization of the Previstage GCC Colorectal Cancer Staging Test, and further develop new genomic cancer tests in the field of personalized medicine.

Orthopedic devices major Stryker (Kalamazoo, Michigan) reported the successful completion of its $3.85 per share tender offer for its previously reported acquisition of Orthovita (Malvern, Pennsylvania). Stryker inked a deal on May 16 to buy Orthovita for $316 million in cash.

Wright Medical Group (Arlington, Tennessee) reported a supply and distribution agreement with ArthroCare (Austin, Texas). ArthroCare will supply Wright with products for soft tissue fixation of the foot and ankle based on ArthroCare's knotless suturing technology. The agreement with ArthroCare includes a line of tissue fixation devices based on ArthroCare's Opus knotless suture fixation technology, which Wright will distribute exclusively to foot and ankle surgeons worldwide.