A Medical Device Daily
Ethicon (Somerville, New Jersey), a Johnson & Johnson (New Brunswick, New Jersey) company, reported that it has completed the previously disclosed divestiture of its Professional Wound Care business to One Equity Partners. Financial terms of the transaction are not being disclosed (Medical Device Daily, July 2, 2008).
Under the terms of the transaction, One Equity Partners has acquired the Professional Wound Care product portfolio, which contains such advanced wound care brands as Promogran Matrix Wound Dressing, Tielle Hydropolymer Dressing and Regranex (becaplermin) Gel 0.01%, a prescription treatment for lower extremity diabetic ulcers, as well as a portfolio of general wound care products.
Also included in the transaction is the transfer of the R&D and manufacturing facility in Gargrave, UK.
The Professional Wound Care business generated annual net sales of about $270 million in 2007.
The professional wound care product portfolio will be marketed and distributed by Systagenix Wound Management, a new company created by One Equity Partners. About 700 employees/contractors supporting the business will transfer to the new company.
In other dealmaking news, Revolutions Medical (RevMed; Mount Pleasant, South Carolina) reported that it has completed its merger with Clear Image (Lexington, Massachusetts) and now owns 100% of all its proprietary technological assets.
The company said this allows it to move ahead with the development and delivery of the platform for its MRI software technologies. RevMed's MRI software will be DICOM-compatible and should easily be adaptable to current picture archival computer systems (PACS).
Having MRIs viewed not only in black and white on current PACS but by using RevMed's color and 3-D automatic segmentation software could boost the reliability and confidence of radiologists, the company said.
RevMed first disclosed its plans to acquire Clear Image last year for $9 million (MDD, Feb. 1, 2007).