A Medical Device Daily

Greatbatch (Clarence, New York) reported that its subsidiary, Electrochem Commercial Power, has acquired substantially all of the assets of IntelliSensing (Orchard Park, New York) for about $3.9 million. IntelliSensing designs and manufactures wireless sensor solutions that measure temperature, pressure, flow and other critical data.

IntelliSensing’s products, powered by lithium batteries, are designed to operate in environments where wired sensors are undesirable or impractical. IntelliSensing’s portfolio will extend Electrochem’s product portfolio in existing markets to offer complete technology solutions that enable customers to manage their processes more effectively, including oil & gas services, military, aerospace and other industrial applications.

Unlike many other wireless sensor solutions, IntelliSensing’s products can measure both pressure and temperature all in one, helping reduce cost for customers by eliminating the need for two separate sensors. The ‘End-to-End’ system is based on open standards with user-defined settings, offering a total turnkey solution for customers to ensure signal integrity and system interoperability. Proprietary hardware designs are able to withstand the harsh environments in which Electrochem customers operate.

Electrochem, a subsidiary of Greatbatch designs lithium cells and battery packs.

Greatbatch, is a manufacturer of critical components used in medical devices for the cardiac rhythm management, neurostimulation and interventional radiology markets.

Crdentia (Dallas), a healthcare staffing company, yesterday reported that it has completed the acquisition of ATS Health Services (Jacksonville, Florida), a provider of temporary nurse and allied health staffing services to hospital, private practice, clinic, home care, corporate and occupational facilities in large metropolitan areas in Florida, Georgia and North Carolina. Terms of the transaction include $3.3 million in cash and 2.1 million shares of the company’s common stock valued at $700,000. The acquisition is expected to be immediately accretive to Crdentia.

ATS Health Services has six offices in Florida (including the hospital-based AFLEX program in Jacksonville), one in Georgia and one in North Carolina. ATS Health Services has plans to expand to five additional cities in Florida, and Crdentia will carefully review these plans throughout the coming months. ATS Health Services has traditionally been very strong in the home care market and has an excellent presence in the hospital staffing business. In addition, ATS Health Services has received certification by The Joint Commission under its Home Care Accreditation Program. Tim Jones, President of ATS Healthcare Services, has joined Crdentia’s senior management team and will be responsible for overseeing the acquired operations. The integration process has already begun.

In keeping with Crdentia’s strategy of focusing its operations in attractive Sun Belt markets, this acquisition increases the Company’s revenue base by 35% and allows Crdentia greater penetration of the important markets throughout the Southeast region of the U.S. Crdentia believes the acquisition will 1) provide critical mass to the company’s overall operations, 2) significantly increase operating and EBITDA margins and 3) improve its ability to continue to attract large national and regional contracts to add to the newly combined businesses. The acquisition will also bring additional experienced leadership to Crdentia’s growing management and recruitment teams.

Crdentia one of the nation’s leading providers of healthcare staffing solutions, is focused on recruiting talented national and international healthcare professionals to meet the ever-increasing employment needs of over 1,500 clients.

In other dealmaking news:

• BioLife Solutions (Bothell, Washington) a developer of hypothermic storage and cryopreservation media products for cells, tissues, and organs, said that it has outsourced product manufacturing, warehousing, and customer order fulfillment to Bioserv (San Diego), a subsidiary of UK-based NextPharma Technologies.

BioLife selected Bioserv following a detailed evaluation of several contract manufacturing services providers.

Bioserv is a contract manufacturing organization (CMO) providing aseptic and non-aseptic bulk formulation, filtration, filling and lyophilization services, plus packaging, labeling, validation, documentation services and controlled product storage.

NextPharma, is a provider of product development, contract manufacturing and distribution outsourcing services to the pharmaceutical, specialty pharmaceutical, generics and biotech industry.

BioLife Solutions develops hypothermic storage and cryopreservation media products for cells, tissues, and organs.

• XTend Medical (Sunny Valley, California) said the company has signed a letter of intent to purchase the 150 unit Castle Hill Retirement Village and Assisted Living Facility (Thousand Oak, California), in a primarily cash transaction.

Pending the completion of its due diligence and obtaining a long term institutional funding package, the company said it expects to close this acquisition within 30 days.

“We look at this transaction to be a great opportunity for the company to execute and further its business plan through acquiring patients for our healthcare products. The assisted living facility (Castle Hill) and its property are valued at $30 million dollars and it currently brings in $5 million in yearly revenue. Our plans are to secure a long term institutional financing to not only acquire the property and its business but also to build out a 90 room dementia center that will add another $12 million in yearly revenue.