• Cardinal Health (Dublin, Ohio) agreed to buy Viasys Health (Conshohocken, Pennsylvania) for about $1.5 billion and also assume Viasys debt of $50 million. Cardinal will make a cash tender offer to acquire all outstanding shares of Viasys common stock for $42.75 a share. Viasys is a global, research-based med-tech company focused on respiratory, neurology, disposable and orthopedic products. Cardinal said the acquisition will expand its clinical and medical product offerings for global, acute-care customers and, combined with its respiratory products business, will establish the company as a leader in the more than $4 billion respiratory care market. The acquisition will also provide a complementary products to Cardinal’s medical disposables business and leverage its hospital selling organization in the U.S.

• Eastman Kodak (Rochester, New York) reported completing the sale of its Health Group to an affiliate of Onex (Toronto) for up to $2.55 billion. The acquired business is continuing under the name Carestream Health. The sale was first disclosed in January. Kodak said it has received $2.35 billion in cash, and will receive up to $200 million in future payments if Onex achieves certain investment milestones. Kodak said it expects to retain the large majority of the initial $2.35 billion cash proceeds, using a portion of the proceeds to repay roughly $1.15 billion of its secured term debt. About 8,100 employees associated with the Health Group have transferred to Carestream Health.

• Greatbatch (Clarence, New York) agreed to acquire Enpath Medical (Minneapolis) for $14.38 a share in cash, or about $102 million, including assumption of debt. Greatbatch is a developer of critical components used in implantable devices and other demanding applications. Enpath is a medical products company that makes single-use medical device products for the cardiac rhythm management (CRM), neuromodulation and interventional radiology markets. Greatbatch said the deal complements its CRM business, provides ability to service the neurostimulation market and accelerates sales. The transaction is expected to close in late June and has been approved by the boards of both companies.

• Hillenbrand Industries (Batesville, Indiana) reported that its board approved a plan to separate into two independent publicly traded companies, with each positioned to capitalize on growth opportunities in their respective markets. Under the plan, Hill-Rom, the company’s medical technology business, would be spun out of Hillenbrand Industries through a tax free dividend of its shares to Hillenbrand Industries shareholders. Hill-Rom is a manufacturer and provider of medical technologies and related services for the healthcare industry, including patient support systems, non-invasive therapeutic products for a variety of acute and chronic medical conditions, medical equipment rentals, and information technology solutions. Batesville Casket would become the sole operating unit of Hillenbrand Industries and would continue to be publicly traded under the Hillenbrand Industries name. The separation is expected to be completed within nine months, Hillenbrand said that with the separation, Hillenbrand shareholders would own shares in both entities.

• Inverness Medical Innovations (IMI; Waltham, Massachusetts), maker of rapid diagnostic products, has acquired Benelux distributor Orange Medical (Tilburg, the Netherlands) in an all cash deal for about €4.2 million ($5.7 million). The acquisition of Orange Medical, which has companies in the Netherlands and Belgium, will increase IMI’s’ direct distribution network for its professional diagnostic products into Benelux, the company noted. IMI said the acquisition is consistent with its efforts to continue to improve margins by bringing distribution in-house

• Novadaq Technologies (Toronto), a developer of real-time imaging systems and image-guided therapies for the operating room, reported completing the purchase of all intellectual property, certain capital assets and inventory from Xillix Technologies (Richmond, British Columbia). Novadaq first disclosed the potential acquisition in April. Assets purchased include an auto-fluorescence and multi-modal imaging portfolio of 31 patents and multiple pending applications in the U.S., Japan and Europe and licensed rights to certain fluorescence imaging technologies. Novadaq paid Xillix C$3 million, of which $1,075,000 was paid in cash and $1,925,000 paid by issuing 224,883 shares, for $8.56 a share.

• Smith & Nephew (London), the global medical technology business, reported that its Advanced Wound Management business has agreed to purchase BlueSky Medical Group (Carlsbad, California) from its founders for an initial payment of $15 million. The company has also agreed to pay further milestones of up to $95 million to Blue Sky related to revenues and other events. Blue Sky develops chronic wound care products using negative pressure wound therapy and wound dressing kits.

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