A Medical Device Daily
Siemens (Munich, Germany) yesterday reported that with expiration of a cash tender offer expired at midnight, Oct. 31, it will accept all validly tendered shares of Dade Behring (Deerfield, Illinois) and that it expects to close the transaction on or about Nov. 6. The $7 billion purchase was first disclosed in July (Medical Device Daily, July, 26, 2007).
The depositary for the tender offer advised Siemens that as of the expiration of the offer, about 72,989,428 shares of common stock of Dade had been validly tendered and not withdrawn, which, together with about 2,663,344 shares to be tendered, represents about 94% of the outstanding common stock of Dade.
With the closing, Dade will be integrated into the existing business of Siemens Medical Solutions Diagnostics (SMS; Tarrytown, New York), a subsidiary of Siemens MedicalSolutions USA (Malvern, Pennsylvania).
“Becoming the leader in the laboratory diagnostics market enables Siemens to offer its customers a comprehensive portfolio of innovative solutions across the whole healthcare continuum — from prevention to diagnosis, to therapy and care,” said Erich Reinhardt, member of the managing board of Siemens and president/CEO of SMS. “There is no other company that can bring together the entire medical imaging, laboratory diagnostics and clinical IT value chain under one roof.”
Dade Behring offers products, systems and services for the needs of clinical laboratories.
Mediware Information Systems (Lenexa, Kansas), a provider of ClosedLoop clinical systems for blood and medication management, reported completing the acquisition of substantially all assets of Integrated Marketing Solutions (IMS; Baltimore), a provider of software products and services for blood and plasma donation centers to provide donor relationship management with web-based tools. The deal was first unveiled last month (MDD, Oct. 17, 2007).
Mediware will pay about $5.2 million in cash for the purchase, with an additional earn-out based on operational performance.
Kelly Mann, president/CEO of Mediware, said, “The addition of IMS enhances Mediware’s vision for ClosedLoop management of the blood supply and enables our mutual clients with increased capabilities. The integration of IMS’s relationship portals, with the clinical management capabilities provided in LifeTrak, will provide end-to-end donor center support and a ClosedLoop environment that streamlines donor center efficiency.”
Mediware develops blood and medication management software systems that encapsulate information supporting patient therapies and reinforce patient safety practices.
In other dealmaking activity:
• 3M (St. Paul, Minnesota) reported completing its acquisition of Lingualcare (Dallas), a customized, lingual orthodontic solution. The deal was first reported in October (MDD, Oct. 2, 2007). Terms were not disclosed.
Lingualcare develops lingual braces and digital tools to make treatment easier for doctors and patients. 3M said that Lingualcare complements its line of orthodontic solutions and broadens its Unitek aesthetic and digital orthodontic platforms.
• The Halifax Group (Washington) reported that that it has sold its majority interest in Maverick Healthcare (Mesa, Arizona) to Beecken Petty O’Keefe & Company (BPOC; Chicago), a private equity firm focused on healthcare. Terms were not disclosed.
Maverick is a provider of home healthcare products and services in the Southwest. Its products and services include home respiratory therapy, home infusion therapy and home medical/custom rehabilitation equipment through a network of 27 branch locations in Arizona, California, Colorado, New Mexico, and Nevada. It also operates eight sleep diagnostic testing facilities in Arizona and New Mexico.
Halifax says it specializes in partnering with managers and entrepreneurs to recapitalize and grow lower middle-market companies across a variety of industries.
• WiFiMed Holdings (Atlanta), whose holdings are providers of physician workflow solutions, said it will purchase CyberMedx Medical Systems (Dana Point, California), to become the third WiFiMed subsidiary. Terms were not released. The acquisition is expected to be completed by year end.
CyberMedx has developed the InteleNett family of wireless patient data management products for hospitals and the STATus Electronic Medical Data Exchange family of Internet-based telemonitoring device data management products for the home care and nursing home industries.
WiFiMed, through its wholly owned subsidiaries WiFiMed Inc. and EncounterPROHealthcare Resources, offers solutions enabling the documentation of physician/patient encounters through continuously updated technologies.
• Metabolon (Research Triangle Park, North Carolina), a discoverer of metabolomics-driven biomarkers, reported acquiring intellectual property from Cogenics Icoria, a subsidiary of Clinical Data (Newton, Massachusetts). Terms were not disclosed.
The portfolio includes issued and pending patents related to metabolomics methods and data analysis as well as carcinogenicity and toxicity biomarkers. Metabolon now owns all of the metabolomics-related intellectual property formerly owned by Cogenics Icoria. Clinical Data acquired Cogenics Icoria in 2005.