A Medical Device Daily
Isonics (Golden, Colorado), a provider of solutions for the homeland security, life sciences, and semiconductor markets, re-ported that its Homeland Security and Defense (HSDC) subsidiary has entered into a definitive agreement with privately heldIscon Video Imaging (Watertown, Massachu-setts), which gives HSDC the right to acquire up to 51% equity ownership in the company in a series of defined investments based on successful completion of developmental and commercial milestones.
Iscon is developing patent-pending infrared imaging-based technologies for the noninvasive detection of objects hidden under clothing as well as technology for the determination of the chemical composition of such objects to identify explosives and drugs.
Isonics will assist Iscon in obtaining commitments for deployment of beta prototypes in a number of demonstrations in airports, public buildings or correctional facilities. The successful demonstration of an alpha prototype for Isonics' engineers led to this investment agreement.
The initial funding of $250,000 from Isonics will be used to manufacture the beta prototypes and support business development efforts.
“The fully developed version of the Iscon technology holds promise to be a stand-off detector for suicide bombers,” said Boris Rubizhevsky, Isonics' vice chairman and president of HSDC.
Iscon said it has received considerable interest in its efforts from both government and private entities in the U.S. and Europe and expects to have several pilot installations installed before the end of 2006.
Isonics has three business divisions: Homeland Security and Defense, Semiconductor and Life Sciences.
Bayer (Leverkusen, Germany) said it might raise its offer price for Schering (Berlin) as it seeks to salvage its EUR 16.5 billion ($20.4 billion) takeover bid for its fellow German drugmaker against competition from spurned suitor Merck (Whitehouse Station, New Jersey).
Bayer said in a statement that it was weighing buying more Schering shares on the market at prices above its offer of EUR 86 ($108.47) per share. If the company does that, all sellers of Schering shares would receive the higher price.
Merck now holds a 20.7% stake in Schering, according to a U.S. regulatory filing by Schering, and analysts have said it is unlikely that Bayer will obtain the required 75% of Schering stock by its Wednesday night deadline.
So far, Bayer controls about 60% of shares in Schering.
“Bayer is sticking consistently to its goal of attaining a three-quarters majority in Schering,” the company said.
Bayer's bid for Schering trumped a hostile EUR 14.9 billion ($18.7 billion) offer by Merck, which later said it was pulling out. Merck has yet to explain its motives in snapping up Schering shares over recent days.
MedLink International (Islandia, New York) re-ported that it has signed a letter of intent to acquire a majority interest inAnywhere MD (Atascadero, Calif-ornia). The specific financial terms of the deal were not disclosed.
The companies said they plan to “synergize and leverage” their technology platforms to advance the development of their respective products to better compete in the evolving health information technology (HIT) sector.
They also plan to combine research and development on a new ASP practice management application that will integrate both the MedLink EHR (electronic health records), including the MedLink Billing application, and the MedLink VPN (Virtual Private Network). This new combined solution will build upon the already existing MedLink Auto-Doc and Auto-Pilot applications and will seek to maximize the digital record keeping, storage and sharing solutions already available to point-of-care physicians, and offer such new features as enhanced utility and value in a more comprehensive secure one-stop digital record storage solution.
Anywhere MD develops software applications for mobile handheld devices. These mobile applications are designed to provide the physician with the most recent and accurate healthcare information at the point of care.