• Acacia Research Corp. (ARC; Newport Beach, California) reported that its Cardio Access subsidiary has entered into a license agreement with Medtronic (Minneapolis) covering patents relating to medical devices. The agreement resolves litigation that was pending in the U.S. District Court for the Eastern District of Texas with respect to certain Medtronic products. ARC's subsidiaries develop, acquire, and license patented technologies. They control more than 100 patent portfolios, covering technologies used in a wide variety of industries.

• CardioNet (Conshohocken, Pennsylvania) reported its entry into the cardiac clinical research services business and the acquisition of Biotel (Eagan, Minnesota). The two companies entered into a binding definitive merger agreement for CardioNet to acquire Biotel for $4.82 per share in cash, for a total transaction value of about $14 million. The acquisition of Biotel expands CardioNet's product portfolio with a recently approved wireless event monitor, enhancing CardioNet's leadership position in the rapidly emerging field of wireless medicine, the company said. With the acquisition, CardioNet said it now provides physicians and patients with the most comprehensive array of products for the diagnosis and monitoring of cardiac arrhythmias. The company's product portfolio will include Holter monitoring, wireless event monitoring and CardioNet's Mobile Cardiac Outpatient Telemetry, a system for wireless diagnosis and monitoring of cardiac arrhythmias. As part of the acquisition, CardioNet is acquiring Biotel's wholly-owned subsidiary, Agility Centralized Research Services (Chicago). Agility provides event, Holter and 12 lead ECG monitoring services to the medical device and pharmaceutical industries, as well as to contract research and academic research organizations worldwide.

• Cardiovascular Systems (CSI; St. Paul, Minn-esota), a developer of interventional treatment systems for vascular disease, has expanded its product portfolio by signing an agreement with Invatec (Bethlehem, Pennsylvania), a provider of interventional products, to market Invatec's PTA balloon catheter line in the U.S. CSI's flagship product is the Diamondback 360 Orbital Atherectomy System, a minimally invasive catheter system for treating peripheral arterial disease (PAD). Between 8 million and 12 million Americans suffer from PAD, which is caused by the accumulation of plaque in leg or foot arteries, reducing blood flow.

• Cetero Research (Cary, North Carolina) and Cardiocore (Bethesda, Maryland) reported a global strategic alliance to optimize the design, conduct and reporting of cardiac safety studies.

• Lumedx (Oakland, California) and Mennen Medical (Horsham, Pennsylvania) reported signing a partnership agreement to provide a total, integrated cath lab data solution and seamless stream of hemodynamic cardiovascular patient data. The agreement is part of both companies' desire to complement their individual product lines so that their mutual customers will enjoy a consolidated cath lab solution. Combining the CVIS and PACS software modalities of Lumedx with Mennen Medical's suite of hardware products for the cath lab, including its new hemodynamic system, the Horizon XVu, its patient monitoring and its EP recording systems into one integrated system will provide a unique market solution. This partnership is intended to help heart centers to perform cath lab procedures, using an efficient and flexible workflow and continuous clinical patient data from the holding area, throughout the procedure room and into the recovery room. Mennen Medical's new XVu System is embedded with an interface and analysis system. Combined with windows and an intuitive graphic interface, the system enables various layouts to suit both cardiac and peripheral angiography procedures, including the most advanced pediatric package that is available in the market.

• Medtronic (Minneapolis) said in mid-April that t had completed its acquisition of CoreValve (Irvine, California). The deal was first disclosed on Feb. 23. The agreement calls for an initial payment of $700 million plus additional payments contingent upon the achievement of agreed milestones. CoreValve develops percutaneous, catheter-based transfemoral aortic valve replacement products. Its CoreValve ReValving system is not currently available in the U.S. for clinical trials or for sale, the company noted.

• VeriChip (Delray Beach, Florida) has entered into a development and supply agreement with Medical Components (Medcomp; Harleysville, Pennsylvania) to develop and manufacture a RFID microchip for implantation into Medcomp's vascular access medical devices on an exclusive basis. The initial term of the agreement is five years, totaling more than $3 million over the life of the agreement, assuming successful completion of the development of the new, smaller microchip and Medcomp's receipt of approval from the FDA of the vascular port containing the microchip. VeriChip will receive a product development fee for the new, smaller RFID microchip, the development of which is expected to be completed within 90 days. Additionally, Medcomp will buy scanners from VeriChip for use by healthcare professionals nationwide in order to identify a patient's vascular port for correct medication dosage.

No Comments