A Medical Device Daily
HAPC (New York) said it has filed a preliminary proxy statement with the Securities and Exchange Commission in connection with the definitive agreement to acquire InfuSystem (Madison Heights, Michigan), a wholly owned subsidiary of I-Flow (Lake Forest, California).
On Oct. 2, HAPC reported that it had entered into a definitive agreement to acquire InfuSystem. Under the agreement, HAPC will acquire all the outstanding shares of InfuSystem from I-Flow for $140 million (Medical Device Daily, Oct. 3, 2006).
InfuSystem said it has nearly 20 years of experience supplying patients with external ambulatory infusion pumps.
HAPC is a “blank check” company recently formed for the purpose of acquiring, through a merger, capital stock exchange, asset acquisition or other similar business combination, one or more operating businesses in the healthcare industry.
In other dealmaking news: Vibra Healthcare (Mechanicsburg, Pennsylvania) said that it, along withB.A. Healthcare (also Mechanicsburg), has completed the acquisition of the Warm Springs Hospital System (San Antonio). The system owns and operates three hospitals, a specialty head injury facility, eight outpatient centers, and provides contract management services to a number of acute care hospitals and nursing homes.
The transaction was financed by Medical Properties Trust. The operating company, Post Acute Medical, is a newly formed joint venture between Vibra Healthcare ’s (also Mechanicsburg) subsidiary, Lonestar Healthcare , and B.A. Healthcare, a specialty hospital company founded by Anthony (Tony) Misitano.
Vibra Healthcare is a specialty hospital provider focused on the development of freestanding long-term acute care and medical rehabilitation hospitals. With the addition of the Texas hospitals, Vibra will operate thirteen hospitals with 732 beds in seven states.