A Medical Device Daily
Gamma Medica-Ideas (GM-I; Los Angeles/Oslo, Norway), a developer of imaging devices for the pre-clinical and clinical markets, reported reaching an agreement to acquire and merge operations with Advanced Molecular Imaging (AMI; Sherbrooke, Canada), which bills itself as the only company in the world delivering a fully digital APD positron emission tomography (PET) product for pre-clinical imaging. Financial terms of the deal were not disclosed.
Gamma said that the combined company will be “the first and only firm with a complete range of digital imaging technologies, including APD PET and GM-I’s recently unveiled CZT SPECT detector technologies, as well as the most advanced range of multiple modality imaging systems for drug discovery and medical research.”
Bradley Patt, PhD, co-founder and CEO of GM-I said the deal “will create the world’s first completely digital imaging suite, allowing us to provide innovative solutions to our molecular imaging customers. These solutions will streamline imaging protocols while improving data quality, resulting in a better insight into the biology and physiology underlying disease. Ultimately this should translate into more accurate diagnostic and treatment protocols.”
GM-I will have offices in Los Angeles, Oslo and Sherbrooke and said it expects to maintain a close relationship with AMI’s academic partner, the University of Sherbrooke , which has developed expertise in PET imaging.
GM-I’s products include the LumaGEM, a molecular breast imaging-based system for early diagnosis and treatment of breast cancer. The company said the digital gamma ray imaging technology in LumaGEM offers advances in resolution and contrast, allowing for identification of millimeter-sized breast cancers often missed by mammography, especially in dense breast tissue.
Braun GmbH (Kronberg, Germany), part of Procter and Gamble (P&G; Cincinnati), and Kaz (New York), have formed a partnership under which Kaz has acquired Braun’s thermometer and blood pressure monitoring business.
The partnership also includes a licensing agreement between the two companies, in which the products will be marketed by Kaz under the Braun name.
The business comprises Thermoscan digital thermometers and wrist blood pressure monitors and currently represents about 5% of Braun’s global sales. On Dec. 8 Kaz took over global responsibilities for these products.
The companies said the agreement was a decision by both firms enabling them to focus on their primary activities.
“With this decision, Braun will be able to further build its leadership role, accelerate growth and focus on innovation in our core categories,” says Bracken Darrell, president of Global Braun. “Kaz has successfully licensed P&G’s Vicks brand since 1995, and therefore we see them as an ideal trustworthy partner for Braun.”
“Adding Braun thermometers and blood pressure monitors as well as its strong brand equity to Kaz’s healthcare portfolio will be a key driver to further grow our worldwide business,” said Richard Katzman, CEO of Kaz, “Kaz is especially excited about the growth opportunities this brings to our European business.”
Kaz said it is currently the U.S. market leader in digital thermometers; with the addition of Braun Thermoscan it says it will become the” worldwide thermometer leader.”
Braun and its vendors will continue manufacturing thermometers and blood pressure monitors for a significant period of time after the transaction.
Following this transaction, there will be a transition period in which Braun will provide support to Kaz to ensure business continuity and maintain customer service.
In other dealmaking news: Pediatric Services of America (d/b/a PSA Healthcare; Norcross, Georgia) has agreed to acquire substantially all of the assets of Advanced Pediatric Care , a Texas corporation, including Advanced Pediatric’s pediatric nursing business in the Beaumont, Texas market.
The purchase price is about $600,000 in cash with Advanced Pediatrics retaining its accounts receivable. Advanced Pediatric’s annualized net revenue totals about $1.5 million.
The transaction is slated for completion in January 2007.
PSA provides pediatric home healthcare services through a network of 54 branch offices in 18 states, including satellite offices and branch office start-ups. Through these offices PSA provides a combination of services, including pediatric private duty nursing and pediatric day treatment centers