A Medical Device Daily

McKesson (San Francisco) and Per-Se Technologies (Atlanta) reported that McKesson will acquire Per-Se, a provider of financial and administrative solutions for hospitals, physicians and retail pharmacies, in a deal valued at about $1.8 billion. McKesson will acquire all of the shares of Per-Se for $28 a share in cash.

McKesson said it expects to close the purchase in 1Q07, its fourth fiscal quarter. By the third year, McKesson said, it expects to realize pre-tax synergies of 50 million to $75 million. It said that while it will begin to realize synergies the first year, it expects to invest immediately in growing Per Se.

Excluding special items and including anticipated synergies, the acquisition is expected to be neutral to marginally dilutive to McKesson’s EPS in FY08.

McKesson said that Per-Se “fits directly” with its plan to lead in solving “the clinical, financial and business process challenges facing healthcare.” It said Per-Se will give it “the nation’s largest electronic pharmacy network connecting approximately 90% of U.S. retail pharmacies to other business partners to help manage key clinical, financial and administrative transactions for the pharmacist and payor.”

Per-Se reports a customer base of about 100,000 physicians in small practices, 17,000 hospital-affiliated physicians, 3,000 hospitals and 50,000 retail pharmacies.

John Hammergren, CEO and chairman of McKesson, said that a “complex reimbursement environment, a rapidly emerging market for physician office software, and the continued need for products and services to help our retail pharmacy customers compete more effectively and profitably, all create opportunities for McKesson to accelerate future growth.”

Per-Se provides practice management software to the small-office physician market and business management outsourcing services to hospital-affiliated and academic physician group practices, allowing McKesson, it said, “to market the combined products and services to physicians in groups of all sizes.”

In retail pharmacies, Per-Se adds retail claims management to McKesson’s capabilities and bolsters offerings in pharmacy management software.

In other dealmaking activity:

• Talecris Plasma Resources (TPR; Research Triangle Park, North Carolina), a subsidiary of Talecris Biotherapeutics , said it has agreed to purchase the “majority” of the plasma sourcing centers of International BioResources (IBR; LaFayette, Louisiana) in 21 states in the U.S., employing nearly 1,000. Financial terms were not disclosed.

TPR will incorporate the 58 centers acquired from IBR into its expansion plans in plasma sourcing. Of the 58 centers, 21 are licensed, 12 are operating and awaiting FDA approval for licensure, and 25 are under various stages of development.

Alberto Martinez, MD, president/CEO of Talecris Bio, said that by adding IBR, “we are better positioned to further ensure a reliable supply of our life-saving critical care products and meet our customers’ needs well into the future.”

TPR said it plans to complete the acquisition within 30 to 60 days, subject to regulatory approvals. It said it will integrate IBR employees into its organization and augment this staff with its other business units to accelerate the growth and development of the acquired platform.

Talecris said it has been “reviewing strategic options” to meet the demands for its plasma-derived therapeutic protein products, which relies on human plasma. Talecris produces therapies for rare diseases such as alpha-1 antitrypsin deficiency, primary humoral immunodeficiency disease, and hemophilia.

Talecris Biotherapeutics develops and produces treatments for people with life-threatening disorders in a variety of therapeutic areas including immunology, pulmonology and hemostasis.

• Encore Medical (Austin, Texas) reported completing its merger with a company newly formed and controlled by Blackstone Capital Partners (Blackstone).

The transaction was approved at a meeting of Encore stockholders on Nov. 2 (Medical Device Daily, Nov. 6, 2006). Encore stockholders will receive $6.55 in cash for each share of Encore common stock they hold.

With the merger, Encore also said it has accepted for purchase all of the $165 million principal amount 9.75% Senior Subordinated Notes, due 2012, of Encore Medical IHC, all tendered on or prior to 5 p.m., EST, Oct. 26. The settlement of the purchase of notes occurred with closing of the merger.

Encore’s common shares have ceased trading on the NASDAQ Global Market and have been delisted.

Encore manufactures orthopedic devices used for rehabilitation, pain management and physical therapy.

The Blackstone Group, a private investment and advisory firm, was founded in 1985.

• HealthSouth Rehabilitation Hospital (Wichita Falls, Texas), a joint venture partnership between HealthSouth (Birmingham, Alabama) and United Regional Health Care System , said it has acquired the 48-bed Wichita Valley Rehabilitation Hospital (Wichita Falls). Transaction details were not disclosed.

The partnership said it will consolidate services by closing the Wichita Valley Rehabilitation Hospital and provide rehabilitative services at the current HealthSouth Rehabilitation Hospital of Wichita Falls.

“This consolidation is consistent with our strategy to focus on the post-acute care sector and our core business of inpatient rehabilitative care,” said Mark Tarr, president of HealthSouth’s Inpatient Division.

United Regional Health Care System offers services such as a Lead Level III trauma center, cancer treatment, stroke and bariatric centers, cardiac and surgical services, a pediatric unit, Level II nursery and ancillary services.