A Medical Device Daily

Orthofix (Boston) reported it has sold the assets of its vascular business, including its AV-Impulse mechanical compression technology, to Covidien (Boulder, Colorado).

“Additionally, the proceeds from the sale of this business will allow us to further deleverage our balance sheet.“

“This transaction represents another important step towards focusing Orthofix on strategic market segments that represent long-term growth potential for the company,“ said Orthofix's CEO Alan Milinazzo. “Additionally, the proceeds from the sale of this business will allow us to further deleverage our balance sheet.“

As part of the sale, Orthofix has agreed to provide transitional services to Covidien for a period of up to five months. Additionally, under the terms of two supply agreements, Orthofix will provide Covidien with 2-years' worth of Impads used in conjunction with the compression therapy devices being sold, as well as with additional products relating to this business for a 90 day period.

In other dealmaking activity:

• Orthopaedic Synergy (East Taunton, Massachusetts) reported that it has entered into a letter of intent and period of exclusivity to acquire Praxim (Paris).

“The acquisition of Praxim SA will represent a continuation of the philosophy of the Orthopaedic Synergy group that good companies can be brought together and managed so that the combination of their individual strengths produce shorter product development cycles and more rapid growth in sales than each company could deliver on its own,“ Nik Nikolaev, chairman of Orthopaedic Synergy.

• TriTech Software Systems (San Diego) a provider of public safety and pre-hospital care software solutions, reported it received approval from Ortivus (Danderyd, Sweden)and TriTech shareholders to complete the acquisition of Ortivus North America. In conjunction with the acquisition, Ortivus North America will be renamed TriTech Emergency Medical Systems.

The acquisition enables TriTech to broaden its product offering to address its clients' entire operation – from first call to patient care reporting, billing and medical quality assurance. The company's EMS-focused products and well-earned reputation for high quality support give TriTech a powerful, single vendor offering that is unmatched by the competition.

With more than 2,200 customers and 200 employees, TriTech said that it is the fastest growing company in the EMS, Fire and Police marketplace. Its dominant presence provides greater resources to continue to provide cutting-edge solutions coupled with world-class customer service.