• Boston Scientific (Natick, Massachusetts) reported a variety of deals over the past month:

It said that it will acquire CryoCor (San Diego), a maker of a disposable catheter systems used to treat cardiac arrhythmias, for $17.6 million in cash, or about a $1.35 per share. The acquisition follows an agreement between the companies to pursue therapeutic solutions for atrial fibrillation (AF) via development of a console to deliver cryo-energy to Boston Scientific's cryo-balloon catheter. The company's cryo-balloon is being developed to provide a standardized method to isolate the electrical activity originating from the pulmonary veins, which are believed to be a source for the initiation and propagation of AF. "In the current development project, CryoCor's console demonstrated its ability to efficiently deliver nitrous oxide to our proprietary cryo balloon catheter," said Fred Colen, executive VP, operations and technology at Boston Scientific Cardiac Rhythm Management. CryoCor has receive hard-won approval for use of its Cardiac Cryoablation System for the treatment of right atrial flutter (AFl), a condition in which the upper chambers of the heart do not pump in synch with the lower chambers. It then entered its development agreement with Boston Scientific prior to its formal PMA approval for AFl. Last August, CryoCor became the first company to complete enrollment in a U.S. pivotal clinical study for the treatment of AF, raising questions as to why the company would sell. A clue may have surfaced last month when CryoCor said that its annual report on Form 10-K included an audit opinion with a "going-concern" qualification, a statement by CryoCor's independent registered public accounting firm expressing substantial doubt, based upon current financial resources, as to whether the company could continue to meet its obligations beyond 2008 without access to additional working capital, though it noted that the expected collection of $4 million from its collaboration with Boston Scientific would be sufficient to meet its anticipated cash requirements until 4Q08. Boston Scientific's Electrophysiology business makes cardiac ablation products designed to treat common cardiac arrhythmias.

Boston Scientific reported a licensing and development deal for MRI-safe technology with Surgi-Vision (Baltimore). The company will gain access to Surgi-Vision's development capabilities and obtain a license to its intellectual property for potential use in its implantable cardiac devices. The companies will jointly develop a commercial application of Surgi-Vision's technology. Terms were not disclosed. The two companies entered into a separate licensing and development agreement in the area of neuromodulation in December 2005. Surgi-Vision is focused on MRI-safety and MRI-guided therapeutic interventions for neuromodulation, cardiac EP and localized delivery of cell/drug therapies.

Boston Scientific also reported that it will acquire certain assets from Bovie Medical (Melville, New York), a maker of electrosurgical products. The acquired technology and patents relate to the use of conductive sintered steel as an electrode for radio frequency (RF) cutting and coagulation, intended to lower blood loss, quicken procedure times and provide cost savings for hospitals. Terms were not disclosed. Potential therapies for the acquired technology include liver, pancreatic and kidney tumor therapies along with orthopedic and blood vessel sealing. The process involves delivery of RF current and sterile saline for resection, hemostatic sealing and coagulation in open and laparoscopic surgery. The agreement replaces a previously signed distribution-and-marketing agreement between the companies for the technology's use in Boston Scientific's oncology business. As part of the new agreement, Bovie granted a license to Boston Scientific, until 2016, to uses outside of the previously listed fields.

• Opto Circuits (Bangalore, India) completed its previously reported $68 million acquisition of Criticare Systems (Waukesha, Wisconsin), a developer of digital thermometers, sensors, probes, pulse oximeters, patient monitoring systems, cardiac stents and catheters. Opto Circuits had previously acquired about 92.8% of the shares of Criticare common stock for $5.50 a share in cash and without interest. As the final step of the acquisition, Opto Circuits purchasing subsidiary has been merged with and into Criticare, effective April 10. Criticare is focused on making patient monitoring systems and non-invasive sensors for a range of hospitals and alternate healthcare environments.

• Pediatrix Medical Group (Fort Lauderdale, Florida) reported completing the acquisition of a pediatric cardiology practice in Pembroke Pines, Florida, serving northwest Miami-Dade county and western Broward county. Pediatrix paid an undisclosed amount of cash for the practice, expected to contribute immediately to earnings per share, it said. Pediatrix is a provider of neonatal, maternal-fetal and pediatric physician sub-specialty services and recently expanded to include anesthesiology services.