A Medical Device Daily
SunTech Medical (Research Triangle Park, North Carolina), a subsidiary of SunTech Medical Group (Oxford, UK), specializing in motion-tolerant, non-invasive blood pressure monitoring products and technology, has acquired an equity position in Empirical Technologies (Charlottesville, Virginia).Financial terms were not disclosed.
The acquisition gives SunTech access to intellectual property assets in continuous beat-to-beat, non-invasive blood pressure measurement.
“Our mission is to be the dominant supplier of blood pressure [BP] monitoring products and technology,“ said Dayn McBee, CEO of SunTech Medical. “We have filled another significant and strategic piece of our business. SunTech Medical's intimate knowledge of the blood pressure industry combined with Empirical Technologies Corporation's innovative technology creates a synergistic partnership.“
Empirical Technologies is a solution-based, hardware-oriented business with a staff, comprised of PhD and post-doctorial researchers. It reports holding 11 U.S. patents and one provisional application, and has received research funding from DARPA, NHLBI, US Army, Office of Naval Research and CCAT at CSU San Bernadino.
SunTech offers products for 24-hour ambulatory BP monitoring, cardiac stress blood pressure monitoring, customizable OEM blood pressure modules and blood pressure cuffs.
SunTech Medical is a holding company focused on medical diagnostics.
In other dealmaking activity:
• Tutogen Medical (Alachua, Florida), a manufacturer of sterile biological implant products made from human and animal tissue, reported that its CEO GuyMayer has been contacted by representatives of Zimmer Holdings (Warsaw, Indiana), it said, “to enter discussions“ on a range of potential transactions, which could include further investment by Zimmer in securities of Tutogen or its acquisition of some or all of Tutogen's outstanding common stock.
Mayer said, “We have made a great deal of progress in the past year in positioning the company for improved performance. We believe this approach by Zimmer is indicative of that progress. We look forward to considering any and all strategic options that will help us to expand the reach of our products worldwide and that will appropriately enhance value for our loyal shareholders.“
Tutogen utilizes its Tutoplast Process of tissue preservation and viral inactivation to manufacture sterile bio-implants used in spinal/trauma, urology, dental, ophthalmology, and general surgery procedures. The company's Tutoplast products are distributed worldwide by Zimmer Spine and Zimmer Dental , subsidiaries of Zimmer Holdings; Mentor; and through independent distributors and subsidiaries in the U.S. and other international markets.
• Ventiv Health (Somerset, New Jersey) said it has agreed to acquire Synergos (Woodland, Texas), a provider of clinical trial management services, particularly project management and monitoring, and investigator and patient recruitment.
Ventiv will acquire Synergos for $5.75 million in cash and stock, plus earn-out payments for exceeding specified financial targets. The transaction is expected to close at the beginning of April.
Synergos will operate under Ventiv's Clinical division, which provides regulatory services helping companies navigate the clinical development and regulatory approval processes.
Michael Hlinak, president of Ventiv Clinical Solutions, said, “In addition to covering a variety of indications, including cardiovascular, CNS disease, dermatology, infectious disease, musculoskeletal and oncology, we add synergistic services to the fold. These services include clinical trial monitoring, regulatory affairs, medical writing and full service clinical trial management.“
Ventiv said the acquisition will be immediately accretive to its earnings, with further details to be provided during the company's earnings call today.
Ventiv delivers customized clinical, sales, marketing and communications solutions through its three core business segments: Ventiv Clinical, Ventiv Communications and Ventiv Commercial.