A Medical Device Daily

Telzuit Medical Technologies (Orlando, Florida) has acquired PDS Imaging (PDS; Orlando), a mobile ultrasound and cardiac imaging company.

The company said the transaction was financed through a combination of cash and Telzuit stock, but specific financial terms were not disclosed.

PDS is a Medicare-approved independent diagnostic testing facility (IDTF) company offering echocardiograms, ultrasound and other outsourced diagnostic services to physicians and healthcare facilities in Central Florida.

Telzuit said that the acquisition fulfills three goals: adding cash-flow positive mobile ultrasound and cardiac imaging business to its clinic operations; expanding its patient/physician target market; and providing access to a new patient base through credentialed IDTF. PDS's IDTF is in-network and credentialed with Medicare and most major private insurance groups.

Through the acquisition, Telzuit said it will gain direct access to an expanded physician base, with the ability to offer high-quality and affordable heart monitoring through its Statpatch wireless Holter monitor.

Telzuit said it is in the final stages of launching its first product, the Statpatch wireless heart monitor, a 12-lead wireless Holter monitor, which it says is new to the marketplace. Telzuit is building a dedicated intranet platform to handle several of the products it will be releasing, including the Statpatch. In addition the company operates several walk-in clinics in the Orlando area branded under Statcare.

Warren Stowell, CEO of Telzuit, said, “From a strategic standpoint both companies share a common mission of advancing the use and effectiveness of mobile medical technology . . . [PDS's] mobile imaging business operates in our geographic sweet spot, giving us direct access to a new pool of physicians that may have an immediate need for an affordable Holter monitoring service.”

PDS has operations from Tampa to Orlando. In 2005 it posted revenue of $1.1 million. It currently services 140 physicians in Central Florida, with an average run-rate of more than 12,000 patient encounters per year.

In other dealmaking,Windrose Medical Properties Trust (Indianapolis) reported acquiring three specialty hospitals for a price of $26.2 million. Windrose said it acquired the properties, with cash provided from available funds drawn from its line of credit with Huntington National Bank.

The three properties are Clearlake Rehabilitation Hospital (Webster, Texas), with 58,023 rentable square feet on six acres of land; Lafayette Specialty Hospital (Lafayette, Louisiana), with 53,184 rentable square feet; and Northeast Oklahoma Rehabilitation Hospital (Tulsa, Oklahoma), with 58,274 rentable square feet.

Each hospital is subject to a separate long-term master lease to affiliates of RehabCare Group (St. Louis), a provider of rehabilitation program management services for hospitals, nursing homes and other long-term care facilities.

Fred Klipsch, CEO and chairman of Windrose, said the acquisitions position Windrose “as a real estate solutions provider for health systems, physician groups and other specialty healthcare providers. Windrose now owns 92 medical properties in 13 states, aggregating approximately $724 million in acquisition value.”

Windrose develops and manages specialty medical properties.