• Boston Scientific (Natick, Massachusetts) reported the sale of Boston Scientific Santa Rosa (Santa Rosa, California), formerly known as TriVascular, to privately held TV2 Holding (Santa Rosa). The Boston Scientific unit holds equipment and intellectual property related to the TriVascular endovascular aortic repair (EVAR) program, acquired in 2005, and Boston Scientific discontinued its EVAR program in 2006. Sale terms include $30 million in cash, paid at closing, and a warrant allowing Boston Scientific to purchase a minority interest in TV2. The company said it sold the division as part of its effort to sell off non-strategic assets. The company reported late last year that it would lay off more than 2,000 employees globally in a restructuring.

• Diomed Holdings (Andover, Massachusetts) developer of the EVLT laser treatment for varicose veins, reported entering into an asset purchase agreement with AngioDynamics (Queensbury, New York) for the sale of Diomed's U.S. operations for a cash purchase price of $8 million. The assets subject to the agreement exclude the proceeds of Diomed's settlement of its '777 patent litigation with AngioDynamics, under which AngioDynamics agreed to pay $7 million, and the proceeds of Diomed's anticipated $3.6 million settlement with Vascular Solutions (Minneapolis) now pending bankruptcy court approval, as well as certain patents. Diomed filed an action against AngioDynamics in 2004. In mid-March, Diomed filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Massachusetts, Western Division. Since then, Diomed has been operating as a debtor-in-possession while pursuing the sale of its U.S. operating assets. Diomed said it expects to complete the asset sale to AngioDynamics within about 60 to 90 days and to sell its remaining assets in due course, subject to the approval of the bankruptcy court. AngioDynamics also agreed to pay $3 million in cash for certain assets of Diomed Ltd, the UK subsidiary of Diomed, which filed for insolvency administration under the laws of the UK contemporaneously with Diomed's bankruptcy filing in the U.S.

• MedCath (Charlotte, North Carolina) has acquired a 27.4% interest in a joint venture, Southwest Arizona Heart and Vascular Center (Yuma, Arizona), providing cardiac catheterization lab services to Yuma Regional Medical Center under a management and service agreement. The j-v will be owned by MedCath and Heart, Lung and Vascular Center of Yuma. MedCath will assume management of the j-v and add additional capacity to the facility and additional services to the community. MedCath acquired its 27.4% interest for $8.5 million. MedCath is focused on high-acuity services, primarily the diagnosis and treatment of cardiovascular disease. MedCath owns interests in and operates 10 hospitals with 663 licensed beds, and its subsidiary MedCath Partners provides services in diagnostic and therapeutic facilities.

• Medrad (Warrendale, Pennsylania), a subsidiary of Bayer HealthCare (Leverkusen, Germany), reported completing its tender offer for the outstanding shares of common stock of Possis Medical (Minneapolis). The deal, valued at about $361 million, or about $19.50 a share, was first disclosed in February. Medrad is a provider of medical devices and services that enhance imaging procedures, including a line of vascular injection systems, MR surface coils, patient care products, and equipment services. Medrad said it expects to merge with Possis "as soon as practicable," with Possis becoming a Medrad subsidiary. Possis provides mechanical thrombectomy devices used to treat narrowed or blocked arteries and veins.

• Pediatrix Medical Group (Fort Lauderdale, Florida) said that it has completed the acquisition of Children's Heart Center (El Paso, Texas), a pediatric cardiology physician practice. Children's Heart Center was founded by John Plowden, MD, who provides outpatient pediatric cardiology services from a single office location and treats patients at five El Paso-area hospitals. He joined Pediatrix to help his practice enhance patient services within the metropolitan area. Pediatrix's national group of pediatric cardiologists now provides patient services in 14 metropolitan areas across the country. Pediatrix is a provider of neonatal, maternal-fetal and pediatric physician subspecialty services and recently expanded to include anesthesiology services.

• ProMetic Life Sciences (Mount-Royal, Quebec) signed a letter of intent to acquire the American Red Cross's (ARC; Washington) common stock holding in Pathogen Removal and Diagnostic Technologies (PRDT), the joint venture established by ProMetic and ARC in 2002 to develop products to diagnose and reduce pathogens in blood, blood derivatives, biopharmaceuticals and other biological products. ProMetic said the transaction is a natural progression following commercialization of the P-Capt filter and the prion reduction resin that was fully licensed to ProMetic. ARC will receive a royalties derived from PRDT technology. In exchange, ProMetic will raise its ownership position in PRDT to 77% by acquiring ARC's 51% stake in PRDT.