• Accellent (Wilmington, Massachusetts), which calls itself the largest provider of integrated contract manufacturing and design services to the medical device industry, reported that it has signed a definitive merger agreement with affiliates of Kohlberg Kravis Roberts & Co. (KKR; New York) in a transaction valued at about $1.27 billion. As part of the transaction, members of Accellent management will partner with KKR by retaining a “significant” equity stake in the company. The parties said no changes are currently contemplated in Accellent’s strategy or operations.

• Angiotech Pharmaceuticals (Vancouver, British Columbia) reported that it has completed its acquisition of Afmedica (Kalamazoo, Michigan), a private company developing perivascular technology using the drug rapamycin to treat peripheral vascular disease, coronary artery disease and end stage renal disease. The company, which first disclosed the buy in September, said the Afmedica transaction strengthens its leadership in peripheral bypass surgery, where Angiotech is currently conducting human clinical studies with its paclitaxel-eluting Vascular Wrap product candidate and expects to present one-year safety data from its European trial next month at the Veith Conference in New York.

• Beckman Coulter (Fullerton, California) said it has signed an agreement to acquire all of the stock of Diagnostic Systems Laboratories (DSL; Webster, Texas), a provider of specialty immunoassays, including technology for reproductive endocrinology and cardiovascular risk assessment. DSL markets three reproductive endocrinology tests – Inhibin A and B, and anti-Mullerian hormone – along with holding exclusive rights to PAPP-A, a marker being evaluated for cardiovascular risk assessment.

• ev3 (Plymouth, Minnesota) said it has proposed acquiring all of the outstanding shares of Micro Therapeutics (MTI; Irvine, California) that it does not already own. ev3, through a wholly owned subsidi-ary, currently owns about 70.2% of MTI’s common stock. If the proposed exchange offer is successful, ev3 would issue about 6.6 million new shares of its common stock, bringing ev3’s total pro forma outstanding shares to about 56 million. MTI’s public stockholders would be offered 0.45797 of a share of ev3 common stock for each outstanding share of MTI common stock they own. Based on the $17.25 closing price of ev3’s common stock on Oct. 7, the offer represents a value of about $7.90 per share of MTI common stock, or about a 33% premium to the closing price of MTI’s sharse on Oct. 7. If the transaction is completed, ev3 would own more than 90% of MTI’s outstanding shares. ev3 is focused on endovascular technologies for the minimally invasive treatment of vascular diseases and disorders. MTI.is focused on neurovascular disorders of the brain associated with stroke.

• GenVec (Gaithersburg, Maryland) said it is attempting to sell the technology related to its myo-blast cell therapy program to treat congestive heart failure that was acquired through its 2003 merger with Diacrin (Charlestown, Massachusetts). GenVec said it would assign the assets to “a new company” in exchange for a royalty on all future product and process revenues. It said it has a potential buyer but did not disclose its name The company said that if a sale is not made, it will discontinue the program in order to concentrate on its core gene-based product candidates. GenVec said it would provide support to the myoblast program through Nov. 15, the anticipated deal closing date.

• Novoste (Norcross, Georgia) and Best Medical International (Fairfax, Virginia) reported that they have entered into an amended and restated asset purchase agreement whereby Best Vascular, an affiliate of Best, will acquire substantially all of the assets related to Novoste’s vascular brachytherapy (VBT) business and assume specified liabilities associated with those assets and the continued operation of the VBT business. The new agreement is an amendment and restatement of the previously disclosed asset purchase agreement originally entered into by the companies in August. The terms of the agreement had to be amended because the original deal between the two companies was contingent upon the closing of the previously announced merger between Novoste and ONI Medical Systems (Wilmington, Massachusetts). The deal with ONI was scrapped in late September after Novoste’s shareholders failed to approve the issuance of shares of Novoste common stock necessary to complete the merger with ONI. Best makes radiation products for the oncology, urology, neurology and gynecology markets. The consideration for the sale of the assets by Novoste to Best Vascular is the assumption by Best Vascular of various liabilities of Novoste related to its VBT business. In addition, unless previously settled, Best Vascular will assume any liabilities arising or incurred after the closing associated with certain patent infringement litigation currently pending against Novoste and Novoste will make a specified cash payment to Best Vascular in connection with its assumption of such liabilities.

• W. L. Gore & Associates (Newark, Delaware) said it has acquired device surface coating maker Carmeda (Uplands Vasby, Sweden). Carmeda has been a strategic supplier to Gore of heparin and heparin-related technologies for nearly 10 years. While the company said financial details and other terms of the transaction are confidential, it did say that the Carmeda leadership team and work force would remain in its existing facility in Sweden. Gore utilizes the CBAS coating in its Gore-Tex Propaten Vascular Graft.