A Medical Device Daily

PerkinElmer (Waltham, Massachusetts) reported it has completed the acquisition of SYM-BIO Lifescience (Shanghai) a provider of diagnostics instruments and related reagents, in a cash transaction valued at about $63.7 million.

The acquisition is expected to have no material impact on PerkinElmer's adjusted earnings per share for 2009 and be slightly accretive in 2010.

The acquisition doubles PerkinElmer's access to the hospitals market segment in China, offering a larger base from which to expand its prenatal and newborn screening business in the country, and provides the company with a significant local diagnostics manufacturing and R&D base as well.

The addition of SYM-BIO's infectious disease products also complements PerkinElmer's worldwide position in prenatal and neonatal screening, providing a new line of diagnostics for expansion of the company's regional and global offerings.

As part of the acquisition, PerkinElmer gains access to substantial manufacturing plant capacity in Shanghai and the surrounding area, where the company will be able to expand local production capabilities for a number of PerkinElmer products in China, in addition to the diagnostics portfolio.

PerkinElmer also reported that it has acquired the genetic screening business of Surendra Genetic Labs (Chennai, India) a laboratory that focuses on fetal, maternal and newborn health.

In other dealmaking activity:

• Cell Biosciences (CB; Santa Clara, California) reported that it has entered into a definitive agreement to acquire Alpha Innotech (San Leandro, California) for $1.50 per share, or nearly $17.9 million in cash, and will assume $2.1 million of outstanding debt, net of cash.

CB said this acquisition would significantly expand its protein analysis business to include a global infrastructure and a broad protein analysis product portfolio.

The combination of Cell Biosciences and Alpha Innotech would create a global protein analysis business with a broad product line featuring both traditional and novel protein analysis technologies. Virtually every protein research laboratory worldwide would become a potential customer for the combined entity.

The completion of the transaction is subject to customary terms and conditions, including approval by the stockholders of Alpha Innotech.

• Roche (Basel, Switzerland) and RiNA GmbH (Berlin) reported that they have agreed to transfer the complete Roche Applied Science RTS Protein Expression portfolio to RiNA GmbH, effective Sept. 15, 2009. RiNA will contribute its longstanding experience in the field of cell-free expression systems and continue production at the same quality standards defined by Roche. Responsible for sales, support, and distribution of the RTS portfolio worldwide will be 5 PRIME 5 PRIME GmbH of Hamburg, adding an enthusiastic, fast-growing global team of support, direct sales, and distributors. Both partners are committed to maintaining unchanged quality and price of RTS products.

• Biomagnetics Diagnostics (Orangevale, California) a developer of diagnostic systems and technology for HIV, hepatitis, tuberculosis, and malaria detection, reported its entry into the Integrated Optical Biosensor System (IOBS) market. IOBS are a relatively new classification of pathogen detection equipment which use advanced fiber optic-based technology to detect a wide variety of human and animal pathogens.

These devices are specifically designed to be field deployable and ultraportable allowing for very rapid detection of various viral and bacterial pathogens by relatively untrained personnel outside of the laboratory setting.

Biomagnetics Diagnostics is in advanced discussions with the developers of one of the most advanced intellectual property protected IOBS platforms in existence.

• VeriChip (Delray Beach, Florida) a provider of radio frequency identification (RFID) systems for healthcare and patient-related needs, and Steel Vault (also Delray Beach) a provider of identity security products and services, reported that VeriChip has agreed to acquire Steel Vault and form PositiveID Corp. to offer identification tools and technologies for consumers and businesses. In conjunction with the merger, VeriChip said it plans to change its name to PositiveID and continue to trade on the Nasdaq. PositiveID intends to change its ticker symbol to PSID upon closing of the transaction.

The formation of PositiveID represents the convergence of a pioneer in personal health records, VeriChip, with a leader in the identity security space, Steel Vault, focused on access and security of a consumer's critical data. The companies believe that joining personal health records and identity security solutions provides a solid foundation for organic growth and a strong, flexible platform for future offers.

Steel Vault stockholders will receive 0.5 shares of VeriChip common stock for every share of Steel Vault common stock held. The outstanding stock options and warrants of Steel Vault will also be converted at the same ratio. This merger is a stock–for–stock transaction, is expected to be a tax free exchange, and is expected to close in 4Q09.