A Medical Device Daily
Greatbatch (Clarence, New York) reported that its tender offer for all of the outstanding shares of common stock of Enpath Medical (Plymouth, Minnesota) expired, as scheduled, at midnight, June 5.
In the offer, about 5,790,211 shares of Enpath stock were validly tendered and not withdrawn (including about 437,345 shares delivered through notices of guaranteed delivery), representing about 90.1% of Enpath’s outstanding shares.
Greatbatch, which first reported its intention to acquire Enpath for $102 million in cash plus the assumption of debt in May (Medical Device Daily, May 1, 2007), said it has accepted all shares that were validly tendered for payment pursuant to the terms of the offer and payment for those shares will be made promptly in accordance with the terms of the offer.
Greatbatch also reported a subsequent offering period for all remaining shares of Enpath common stock to permit shareholders who have not yet tendered their shares the opportunity to do so. The new offering period will expire at midnight on Friday, unless further extended. During the subsequent offering period, the same $14.38 per share cash consideration offered during the initial offering period will be paid and all shares validly tendered will be accepted and promptly paid for as they are tendered.
Greatbatch said it expectsto complete the acquisition through a short-form merger without a vote or a meeting of Enpath Medical’s shareholders, after which Enpath Medical will immediately become its subsidiary of Greatbatch. It expects the merger to occur on or about June 15.
Enpath makes percutaneous delivery systems and stimulation leads technologies. Its products include venous vessel introducers, articulating and fixed curve delivery catheters, epicardial and endocardial stimulation leads, and other products for use in pacemaker, defibrillator, catheter and infusion port procedures as well as neuromodulation markets.
In other deal news:
• SuperArray Bioscience (Fredrick, Maryland) reported that it has entered into a polymerase chain reaction (PCR) license agreement with Applied Biosystems (AB; Foster City, California). Under the agreement, SuperArray will develop, manufacture and distribute worldwide new Real-Time PCR and PCR-related reagents.
SupeArray said the agreement enables it to offer optimized reagents and kits for PCR and Real-Time PCR that utilize SYBR Green and probe-based methods. It also allows the company to develop Real-Time PCR reagent products and technologies and to pass on rights to customers in the research field for the performance of Real-Time PCR.
The foundational patents covering the PCR process expired in the U.S. in 2005 and Europe in 2006, but several other patents remain in force. These surviving patents that have been licensed to SuperArray on a non-exclusive basis cover, for example, enzyme compositions and certain Real-Time PCR methods and kits.
• In a move designed to enhance its surgical solution suite, McKesson (San Francisco) reported it has acquired an intellectual property license from DocuSys (Mobile, Alabama) for its anesthesia information system, Horizon Anesthesia Management. The solution offers an automated anesthesia documentation record that provides information to help clinicians avoid medication errors.
The agreement will enable McKesson to support and develop the anesthesia application, which has sold for the past four years under private label, and integrate the application with the company’s surgical management solution, Horizon Surgical Manager, and extend the patient’s electronic health record in support of improved patient safety.
“With 95% of medication given in the operating room administered via anesthesia, automatic tracking and documentation of this component of the surgical event is essential to higher quality patient care and appropriate levels of data capture,” said Duncan James, group president, Health Systems Solutions, McKesson Provider Technologies .
• Merit Health Systems (Louisville, Kentucky) reported acquiring Mountainside Hospital (Montclair, New Jersey), offering a services that include a 24/7/365 emergency department, women’s services, cancer, orthopedics and cardiology programs, a sleep center and a weight-loss surgery center of excellence.
Merit reported that C. Barry Dykes will be joining Mountainside as CEO effective June 1. Dykes comes to Mountainside from Desert Regional Medical Center (Palm Springs, California).
Merit is a private hospital management company focused on owning and operating urban and suburban community hospitals.
• Southern Home Medical Equipment (SHME; Spartanburg, South Carolina) has completed the acquisition of the Lafayette, Louisiana branch of Evangeline Medical and Nursing Supply . Evangeline Medical and Nursing Supply currently has two other locations in Ville Platte and Oakdale, Louisiana.
Evangeline Medical is a provider of diabetic footwear in Louisiana. SHME is a holding company with a focus on medical equipment operations in the Southeastern U.S.
• Health Management Associates (HMA; Naples, Florida) reported an agreement to sell two acute care hospitals to Wellmont Health System (Kingsport, Tennessee).
This transaction is expected to be completed on or before Aug. 1, subject to various regulatory approvals.
HMA said it expects to use the proceeds of the sale for general corporate purposes.
The hospitals being sold are 80-bed Lee Regional Medical Center (Pennington Gap, Virginia) and 133-bed Mountain View Regional Medical Center (Norton, Virginia).