• Accuray (Sunnyvale, California) has completed its $277 million acquisition of TomoTherapy (Madison, Wisconsin). The companies claim the deal would create the premier radiation oncology company, offering best-in-class technologies to fight cancer. The combined company is focused on developing, manufacturing and selling personalized, leading-edge treatment solutions that revolve around the patient. Accuray first reported it would acquire TomoTherapy back in March. Corporate headquarters will remain in Sunnyvale, California, but the company will maintain a significant presence in Madison, Wisconsin, where TomoTherapy's headquarters were located. Euan Thomson will continue to serve as president/CEO of Accuray.
• Brainlab (Munich, Germany) said it has entered into a definitive agreement to acquire Voyant Health (Tel Aviv, Israel). Voyant's core technology, TraumaCad, allows orthopedic surgeons to access patient images online and to plan and digitally template surgical procedures from anywhere – the clinic, the home, the hospital or the operating room. Another key technology is VoyantLink, which makes it easier for hospitals and care providers to obtain diagnostic images from their referral network.
• Devicor Medical Products (Pleasant Prairie, Wisconsin), a company of private equity firm GTCR, said it has signed an asset purchase agreement with Neoprobe (Dublin, Ohio) to acquire the neoprobe GDS portfolio of products. Devicor currently provides distribution and marketing services to Neoprobe for the gamma detection systems covered by this agreement. Financial terms of the agreement include $30 million cash at close plus up to an additional $20 million in royalties based on revenue milestones. The sale is subject to approval by Neoprobe's shareholders and is expected to close shortly after the shareholders' meeting in August.
• Hologic (Bedford, Massachusetts) has acquired Chinese medical products distributor TCT International (Beijing) for $135 million in cash. Hologic said that it expects the acquisition will generate $10 million in revenue and help boost earnings per share. Under the terms of the deal, $35 million of the purchase price will be deferred for one year. The pact also includes a two-year contingent earn out, which allows a higher payment based on TCT's revenue growth. TCT employs more than 500 people. Its business will be integrated with Hologic's international operations, the company said. TCT distributes Hologic's ThinPrep Pap Test, related instruments and other diagnostic and surgical products.
• Insulet (Bedford, Massachusetts) said that it has acquired Neighborhood Diabetes (ND; Woburn, Massachusetts) a durable medical equipment distributor specializing in direct to consumer sales of diabetes supplies including pharmaceuticals and support services, for about $63 million in cash. ND serves more than 60,000 customers with Type 1 and Type 2 diabetes primarily in the northeast and southeast regions of the country with blood glucose testing supplies, insulin pumps, pump supplies and pharmaceuticals.
• Kensey Nash (Exton, Pennsylvania) said it has acquired the assets comprising the product lines of Synthes's (West Chester, Pennsylvania) Norian subsidiary for $22 million in cash. Norian manufactures a portfolio of orthobiosurgery products which are exclusively distributed globally by Synthes. As part of a long-term supply agreement, Kensey Nash will manufacture the Norian products, and Synthes will exclusively distribute the products worldwide. In addition, the companies entered into a R&D agreement to create certain related future products. The company made an initial payment of $11 million, financed with cash on hand at the closing, and will make an additional $11 million payment, also expected to be financed with cash on hand, at the earlier of either the transfer of manufacturing to the Kensey Nash facility or 18 months after the closing.
• Merge Healthcare (Chicago) has agreed to acquire Ophthalmic Imaging Systems (OIS; Sacramento, California) for roughly $30.3 million. OIS shareholders will receive 0. 1693 share of Merge Healthcare common stock for each share of OIS common stock. Upon the closing of this merger, Merge Healthcare will add ophthalmic imaging and informatics to its current portfolio of enterprise imaging solutions for radiology, cardiology and orthopaedics; a suite of products for clinical trials; software for financial and pre-surgical management, and applications that fuel the largest modality vendors in the world.
• Stryker (Kalamazoo, Michigan) has agreed to buy privately-held extremity devices maker Memometal Technologies (Bruz, France) for $150 million in cash, plus an additional payment of $12 million contingent upon meeting specific milestones. Memometal makes products for extremity indications with annual sales of roughly $30 million. The entity is strengthening its foothold in the rapidly growing global extremity devices market with a broad range of foot, ankle, hand and wrist implant products, the company noted. The transaction, which is subject to customary closing conditions, is expected to consummate in third-quarter 2011. Upon fruition, the deal is expected to be neutral to the company's adjusted earnings per share for 2011.
Thermo Fisher Scientific (Waltham, Massachusetts) will acquire Phadia (Uppsala, Sweden), an allergy and autoimmunity diagnostics company, for €2.47 billion (or roughly $3.5 billion) in cash. Thermo says it plans to buy Phadia from European private equity firm Cinven in a transaction expected to be completed in the fourth quarter. Thermo said the deal is expected to be immediately accretive to its adjusted earnings per share and accretive by 26 cents to 30 cents a share in 2012. Phadia will be part of Thermo Fisher's Specialty Diagnostics business within its Analytical Technologies Segment. Phadia has about 1,500 employees globally.