A Medical Device Daily

Alliance Imaging (Anaheim, California), a provider of diagnostic imaging services, reported that funds managed by Oaktree Capital Management, and MTS Health Investors have agreed to purchase about 24,501,505 shares of the company's common stock from a fund managed by an affiliate of Kohlberg Kravis Roberts & Co. (KKR) for about $153.1 million or $6.25 per share.

Upon completion of the transaction, Oaktree and MTS will own in the aggregate about 49.7% and KKR will own less than 3% of the outstanding shares of common stock of the company.

The company is not selling any shares in the transaction.

In connection with the transaction, Oaktree and MTS have entered into a governance and standstill agreement with the company pursuant to which, among other things, they are prohibited, for a period of three years after closing of the transaction, from increasing their combined beneficial ownership of Alliance beyond 49.9% of the outstanding shares of common stock without the prior consent of a majority of independent directors.

Upon completion of the transaction, three of the company's directors affiliated with KKR will resign from the company's board of directors and each of its committees, three nominees of Oaktree and MTS will join the board and the board size will remain at seven directors, unless modified by an affirmative vote of two-thirds of the directors then serving.

Oaktree and MTS have agreed to reimburse the company up to $1.25 million of expenses upon completion of the transaction. In connection with the transaction, Oaktree and MTS are not entering into any management fee arrangement with Alliance.

HemCon Medical Technologies (Portland, Oregon) has completed a $12 million private equity financing. The financing is provided by Camden Partners Holdings and Torch Hill Partners.

With completion of this transaction, HemCon will be expanding its Board of Directors to seven, and Richard Berkeley, managing member of Camden Partners, will immediately assume one of its two director positions.

HemCon develops technologies to control bleeding and infection resulting from trauma or surgery. HemCon products are designed for use by military and civilian first responders, as well as medical professionals, in hospital, dental and clinical settings where rapid control of bleeding is of critical importance.

In other financing news:

• Datatrak International (Mayfield Heights, Ohio), a technology and services company focused on global eClinical solutions for the clinical trials industry, reported that it agreed to the terms of a private placement financing with a group of institutional investors. Net proceeds from the private placement are expected to be around $8,797,000 (after deducting the commissions and certain expenses of the placement agents).

The financing will consist of the sale of 1,986,322 common shares at a price of $4.75 per share. The terms of this financing include the issuance of five-year warrants to purchase a total of 297,948 common shares at $6 per share to investors in the private placement, and the issuance of five-year warrants to purchase a total of 29,795 common shares at $6 per common share to the placement agents who assisted the company in the private placement.

• CompuMed (Los Angeles) a medical informatics company developing imaging technology for cost-effective analysis and monitoring, said it has closed a $2 million private placement consisting of 4,167 shares of preferred stock and warrants to purchase 4,166,500 shares of common stock. The warrants have an exercise price of 30 cents and expire on March 12, 2012. The shares of preferred stock will convert into 8.34 million shares of common stock.

The company's core products include the OsteoGram, which is an automated, computer-aided diagnostic system for the rapid screening, diagnosis and monitoring of osteoporosis.

• The Quantum Group (Wellington, Florida) reported that it has closed on $3 million of convertible debt financing. The terms of the financing will be disclosed in a Current Report on Form 8-K shortly to be filed with the Securities and Exchange Commission, the company said.

The Quantum Group is one of Florida's largest community-based healthcare provider systems.