A Medical Device Daily

Royal Philips Electronics (Amsterdam, the Netherlands) said it would acquire Emergin (Boca Raton, Florida). Terms of the deal were not disclosed.

Emergin, a private company with about 100 employees, develops software used to rapidly transmit medical alarm signals throughout hospitals. It will become part of the patient monitoring business unit within Philips' Healthcare sector.

The deal is expected to close in 4Q07.

Laser Energetics (Mercerville, New Jersey) reported a memo of understanding with Lantis Laser (Denville, New Jersey) to form a joint venture, on a 50/50 basis, to distribute its BrightStar Alexandrite laser for dental applications.

Laser Energetics said it received an order from Lantis Laser for an Alexandrite development laser, which will include a cost-effectiveness manufacturing study to tailor the compact laser for the dental market. The study and laser will be completed before the end of the year, the company said. Laser Energetics' primary role will be development, engineering, and manufacturing of the new laser package, which will be funded by the joint venture.

Robert Battis, CEO and chairman of Laser Energetics, said the company expects to sell BrightStar into the dental market at about $40,000 a package.

In other dealmaking news:

  • MedCath (Charlotte, North Carolina) reported the completion of the disposition of Heart Hospital of Lafayette (Lafayette, Louisiana) to the Heart Hospital of Acadiana (Lafayette). The aggregate price and other settlement amounts related to the transaction, which was structured as an asset sale, total $25 million, subject to post-closing adjustments, MedCath said. The hospital, opened in March 2004, consists of 32 inpatient beds, two catheterization labs and two operating rooms. MedCath in February reported a letter of intent to sell its interest in Heart Hospital of Lafayette to a group of physicians and investors (Medical Device Daily, Feb. 16, 2007). Heart Hospital of Acadiana is co-owned by Our Lady of Lourdes, a Lafayette community hospital and local physicians.
  • Community Health Systems (Nashville) reported that Barberton Citizens Hospital (Barberton, Ohio), a 311-bed acute care facility has been sold to Summa Health System (Akron, Ohio), a not-for-profit health system. Summa was a minority joint venture partner in the hospital, previously owning a 3.25% interest. Community Health calls itself the largest publicly traded hospital company in the U.S., operating general acute care hospitals in non-urban and mid-size markets throughout the country.
  • Revolution Health (Washington), a health company founded by AOL co-founder Steve Case, reported the acquisition of HealthTalk (Seattle), an online provider of chronic care information and programming. It also said it invested in SparkPeople (Cincinnati), which offers diet ideas, exercise plans and advice. Financial terms in the two transactions were not disclosed. HealthTalk will operate as part of Revolution Health Network, which encompasses RevolutionHealth.com, CarePages.com and the company's affiliations with drugstore.com and SparkPeople.com. HealthTalk.com provides in-depth, original multi-media health content to more than 1 million unique visitors per month. "We are building a platform that reaches the largest possible audience, and in the process want to build the largest health brand from a consumer standpoint," said Revolution founder Steve Case "Consumerism is going to become a driver in health care, which represents $2 trillion, or one-sixth of the economy. That segment is ripe for disruption, and the key disrupting force is consumers." Revolution Health Network is an online health community for people at all stages of health - from people seeking to improve everyday health and fitness to people managing acute conditions to people receiving care.