A Medical Device Daily
Hologic (Bedford, Massachusetts) reported that the FTC granted early termination of the U.S. antitrust waiting period on Tuesday in connection with Hologic's previously reported tender offer for all of the outstanding shares of the common stock of human papillomavirus (HPV) test developer Third Wave Technologies (Madison, Wisconsin) in a deal valued at $11.25 a share, or about $580 million (Medical Device Daily, June 10, 2008).
The early termination of the waiting period satisfies one of the conditions to the tender offer. The tender offer remains subject to certain other conditions described in the offer to purchase.
The tender offer is scheduled to expire at midnight, EDT, on July 16.
Hologic is a developer of diagnostics, medical imaging systems and surgical products dedicated to serving the healthcare needs of women.
In other dealmaking news:
• The Company (Las Vegas) reported that it has completed the previously disclosed acquisition of MyScreenMD.com. The Company has acquired, through its medical technology subsidiary USA Medical Tech, all the assets of MyScreenMD.com, including proprietary hardware and software, industrial designs, intellectual property and web sites and URLs of the company, including www.MyScreenMD.com.
The shareholders of the company also have agreed to proceed with a change of name of the company to USA Medical Tech to more accurately reflect the major emphasis the company will be placing on its medical technical division. Additionally, the company's primary web site is changing to www.USAMedicalTech.com.
MyScreenMD is focused on developing and acquiring home-based medical diagnostic and testing equipment. All the devices and equipment will be designed to simply and easily transmit their results through any Internet-capable device to the company's medical web portal.
Albert Cook, MD, newly appointed CEO of the company, said, "The tremendous advantages that computers and the Internet have brought to so many other fields will now be able to be harnessed to streamline and simplify the collection of pertinent medical information from patients in the comfort of their home. We believe that our concepts and technologies will lead to significantly improved patient outcomes, along with serious savings and efficiencies for both providers and payors."
• Inspiris (Brentwood, Tennessee) a provider of care and care management services for frail and chronically ill seniors, reported that it has reached agreement to acquire Care Level Management (CLM; Woodland Hills, California), which provides physician care and care management services to enrolled patients in their homes on behalf of their respective health plans. Specific terms of the deal were not disclosed.
"Inspiris has been in the process of expanding our service line offerings to include frail, medically complex patients living in an individual home based setting. This acquisition accelerates our movement into this large, underserved market segment," said Mike Tudeen, president/CEO of Inspiris.
CLM filed for bankruptcy protection on May 5, largely as a result of the loss of a large CMS demonstration project in December 2007. During the proceedings, Inspiris said it worked closely with CLM's executive team as well as the U.S. Bankruptcy Court (Central District of California-San Fernando Valley Division), to ensure that services to a very vulnerable patient population were not disrupted.
The CLM acquisition will add 1,600 high-risk patients, more than 50 experienced employees, three new geographic markets, expansion of three current markets, and several new health plan customers.
Inspiris said the acquisition increases the number of patients under its care by more than 35%.