• Agilent Technologies (Santa Clara, California) has agreed to pay $52 a share – or, roughly $1.5 billion – to acquire Varian (Palo Alto, California) in an all-cash deal that reflects a premium of roughly 35% to Varian shareholders. Varian is a supplier of scientific instrumentation and associated consumables for life science and applied market applications. Agilent, a measurement company, said the acquisition would broaden its applications and solutions offerings in life sciences, environmental, and energy and materials. It also expands its product portfolio into atomic and molecular spectroscopy; establishes a "leading position" in nuclear magnetic resonance, imaging and vacuum technologies; and strengthens its consumables portfolio, the company said.

• Aspect Medical Systems (Norwood, Massachusetts) has signed an exclusive U.S. distribution and technology licensing agreement with LiDCO Group (Cambridge, UK). Aspect will have exclusive rights to sell the LiDCOrapid monitoring system in the U.S. The LiDCOrapid system, comprised of a monitor and single-use disposable, is designed for use in the operating room to provide clinicians with accurate and immediate feedback on the patient's fluid and hemodynamic status. The agreement also allows for non-exclusive distribution of the LiDCOplus system and an exclusive license to integrate LiDCO and BIS technologies into a combined product for sale in the U.S.

Biomedical testing provider Beckman Coulter (Fullerton, California) reported the completion of its $780 million acquisition of Olympus' (Tokyo) lab-based diagnostics business. This acquisition, first reported in March, extends Beckman Coulter's leadership position in chemistry and automation, the company said. The deal was funded as follows: About $495 million in net proceeds raised from the issuance of two $250 million senior note offerings of 6- and 10- year maturities with 6% and 7% coupons, respectively; and about $240 million in a common stock offering comprised of approximately 4.7 million shares issued to the public at $53 per share, or $50.75 net proceeds per share.

• Cardium Therapeutics (San Diego) said it has completed the previously disclosed asset sale of its InnerCool Therapies (San Diego) business to Royal Philips Electronics (Best, the Netherlands) for $11.25 million, as well as the transfer of roughly $1.5 million in trade payables. Cardium's initial investment portfolio includes InnerCool Therapies, the Tissue Repair Company, and Cardium Biologics, medical technology companies primarily focused on the development of therapeutic products and devices for cardiovascular, ischemic and related indications.

• Covidien (Dublin, Ireland) has agreed to acquire Power Medical Interventions (PMI; Langhorne, Pennsylvania) in an all-cash deal worth roughly $64 million. PMI's first powered stapling platform, the SurgAssist, was introduced in 2001 and has been used in more than 45,000 procedures globally, the company noted. Covidien, which develops technology for advanced surgical procedures, considers itself a world leader in surgical stapling.

• Kensey Nash (Exton, Pennsylvania) said it has agreed to re-acquire the distribution rights, along with the trademark, inventory and other assets associated with the OsseoFit Bone Void Filler product line. The company and Biomet Sports Medicine (Warsaw, Indiana) agreed to terminate their existing OsseoFit distribution agreement. Following a brief transition period, Biomet will return distribution rights for the OsseoFit Bone Void Filler product line to Kensey Nash, including rights to future applications or indications for the technology. Kensey Nash will have exclusive worldwide rights to the OsseoFit Bone Void Filler product line, as well as future extensions of the technology including cartilage repair.

• Laboratory Corporation of America Holdings (LabCorp; Burlington, North Carolina) reported the successful completion of its $155 million acquisition of Monogram Biosciences (South San Francisco). LabCorp acquired Monogram pursuant to a cash tender offer followed by the merger of a wholly-owned subsidiary of LabCorp with and into Monogram. As a result of the acquisition, Monogram became a wholly-owned subsidiary of LabCorp.

In order to combine forces on expanding computer assisted detection (CAD) technology, software maker Merge Healthcare (Milwaukee) and Confirma (Seattle) have entered into a definitive agreement for Merge to acquire Confirma in an all-stock transaction. Confirma develops software to help physicians identify potential breast and prostrate tumors from MRI tests. The total value of the transaction is estimated to be $22 million, or about 5.6 million shares of Merge Healthcare common stock. Based on these amounts, it is estimated that Confirma investors will own about 8.5% of Merge post-acquisition.

• Misonix (Farmingdale, New York), a developer of minimally invasive ultrasonic medical device technology, which in Europe is used for the ablation of tumors and worldwide for other acute health conditions, reported the sale of its Labcaire (Clevedon, UK) subsidiary to PuriCore International (Malvern, Pennsylvania) for a total purchase price of up to $5.6 million.