A Medical Device Daily

Serologicals (Atlanta) reported that it would acquire Linco (St. Charles, Missouri) for $64.5 million in cash plus an additional $10.3 million for land and buildings.

Linco, which has 109 employees, consists of two companies: Linco Research (LRI) and Linco Diagnostic Services (LDS). LRI develops kits that measure amounts of protein, hormones or other substances in the blood for researchers. LDS provides bioanalysis contract services for research and new drug development.

In 2004, Linco moved its LDS group into a new $6.8 million facility in Missouri Research Park in St. Charles County. Linco's LRI group is based nearby in the park.

Serologicals said that the acquisition will make it the No. 1 market leader, worldwide,inLuminex-based multiplexing products and services, used extensively in identifying and characterizing protein molecules during the drug discovery process, and for metabolic disease research.

The purchase comes on the heels of Serologicals' March 14 acquisition of UK-based Cytomy , a company with the largest portfolio of ion channel cell lines available today. Serologicals said that purchase allowed it to enter the ion channel market, an important area in drug discovery screening services.

These two acquisitions build Serologicals' research segment, establishing the company, it said, as a leader in the high-growth markets of multiplexing and drug discovery screening services.

Boston Scientific (Natick, Massachusetts) reported that it has made certain commitments to the Directorate-General for Competition of the European Commission as part of the European Commission's antitrust review of the company's merger with Guidant (Indianapolis).

It said that details of the commitments are confidential but they will become public when the commission completes its review and announces its decision. Boston Sci said that companies “often make commitments to resolve potential antitrust issues“ during a commission review.

The existence of commitments extends the typical five-week European Commission review period to up to seven weeks, which means that the European Commission review of the Boston Scientific/Guidant transaction will now formally conclude no later than April 13.

Boston Scientific said it still is seeking to close the transactions during the first week of April. And it noted that its commitments are not material to the Guidant transaction.

Boston Scientific also has entered into an agreement with Abbott (Abbott Park, Illinois) under which Abbott will acquire Guidant's vascular intervention and endovascular businesses, while agreeing to share rights to Guidant's drug-eluting stent program with Boston Scientific.

In other dealmaking activity:

• RoundTable Healthcare Partners (Lake Forest, Illinois), an operating-oriented private equity firm focused on the healthcare industry, reported that it has completed the sale of American Medical Instruments Holdings (AMIH) to Angiotech Pharmaceuticals (Vancouver, British Columbia) for $785 million in cash. The deal, which expands Angiotech's efforts from the drug/device arena more fully into the device side, was first reported in February (Medical Device Daily, Feb. 2, 2006).

AMIH is a specialty medical device manufacturer focused on three markets: interventional diagnostics, ophthalmology, and wound closure. It operates in 11 locations and employs more than 1,300 people. The seven manufacturing companies that comprise AMIH were formerly owned and independently operated by The Marmon Group. RoundTable acquired a majority interest in April 2003, and Marmon retained a minority interest.

Lester Knight, founding and managing partner of RoundTable, said, “Angiotech has been an outstanding partner to work with on this transaction. They are an excellent strategic fit with AMIH, providing new opportunities for its employees and its businesses.“

RoundTable is an operating-oriented private equity firm targeting companies in healthcare that fall within the expertise and experience of the firm's operating principals.

• Pacer Health (Miami), an owner-operator of acute care hospitals, medical treatment centers and psychiatric care facilities in the Southeast, reported that it has assumed the management and operation of Knox County Hospital (Barbourville, Kentucky), a 42-bed acute care facility.

Pacer signed a binding letter of intent with Knox County in early February to lease the facility with an option to purchase it during the contract period.

As part of the transaction, Pacer management said it paid $250,000 to Knox County to solidify the interim agreement and fund a portion of the hospital's debt. The agreement carries a penalty of $750,000 if either party terminates the contract during the bond refinancing period.

Knox County Hospital offers a suite of healthcare services, including nuclear medicine, surgical services, physical therapy, spiral computed tomography, mammography, 24-hour emergency services and a 16-bed nursing unit.

Pacer is an owner/operator of acute care hospitals, medical treatment centers, and psychiatric care facilities serving non-urban areas throughout the Southeast.