A Medical Device Daily

Ivytan (Stockholm, Sweden) reported that it withdrew its previously disclosed public offer to acquire all shares of Q-Med (Uppsala, Sweden) at SEK 39 ($4.85) per share in cash last week because the conditions of the offer were not satisfied during the acceptance period that ended on Dec. 8.

Q-Med's board had rejected the offer in late November (Medical Device Daily, Nov. 26, 2008), saying it regarded the timing "to be opportunistic with respect to the current state of the financial market."

Q-Med is a biotechnology/medical device company that develops primarily medical implants. The majority of the products are based on the company's patented NASHA technology, for the production of stabilized non-animal hyaluronic acid.

The existing product portfolio includes Restylane for filling lines and folds, contouring and creating volume in the face, Macrolane for body contouring, Durolane for the treatment of osteoarthritis of the hip and knee joints, Deflux for the treatment of vesicoureteral reflux, VUR, (a malformation of the urinary bladder) in children, and Solesta for the treatment of fecal incontinence.

In other dealmaking news, Pediatrix Medical Group (Fort Lauderdale, Florida) reported that it has introduced additional physician subspecialty services in the Tampa Bay area with the acquisition of Florida Perinatal Associates, a maternal-fetal medicine group practice. Terms of the deal were not disclosed.

The seven physicians, who practice along with more than 27 clinical and administrative staff members, provide patient care at offices in Tampa, Clearwater and Sarasota, on Florida's West Coast, and in Brevard County on Florida's East Coast.

"We're excited about moving forward as part of Pediatrix to respond to increasing demand for maternal-fetal services throughout Tampa Bay, as well as to surrounding areas throughout west and central Florida," said Jeffrey Angel, MD, who founded Florida Perinatal Associates in 1992 and will serve as medical director for te practice. "We'll be able to work with Pediatrix's pediatric cardiology and neonatal subspecialists to provide a continuum of care model that should improve fetal and newborn health for patients in the communities we serve."

Pediatrix's national group practice already includes neonatal and pediatric cardiology physician subspecialists practicing in the Tampa Bay area. It paid cash for the practice, which is expected to contribute to the company's results immediately.

During 2008, the company has completed 13 physician group practice acquisitions including four neonatal, four maternal-fetal, three pediatric cardiology and two anesthesia group practices.

Pediatrix is a provider of neonatal, maternal-fetal and pediatric physician subspecialty services and recently expanded to include anesthesiology services.