A Medical Device Daily

EDot.com (Miami) reported completing the purchase of privately held NanoViricides, a company targeting the use of nanotechnology for the treatment of major viral diseases such as HIV/AIDS, hepatitis C, influenza and Asian bird flu. Financial terms were not disclosed.

EDot.com said it would change its name to NanoViricides Inc. and transfer to the Over-the-Counter Bulletin Board as soon as it completes the required financial audits.

NanoViricides, a development-stage firm, says it is creating special-purpose nanomaterials for viral therapy and that it has exclusive license in perpetuity for technologies developed by Theracour Pharma for the five virus types, HIV, HCV, Herpes simplex, Asian (bird) flu and influenza.

A NanoViricide is a nanoparticle containing an encapsulated active pharmaceutical ingredient that targets a specific virus. When a NanoViricide drug particle enters the patient’s bloodstream, it immobilizes circulating virus particles and the active pharmaceutical ingredient before being injected into the virus by the NanoViricide particle, destroying it.

The company said it plans to develop novel NanoViricide drugs first against HIV, and anticipates that in 2006 it will license the products to major pharmaceutical companies.

NDCHealth (NDC; Atlanta), a provider of healthcare technology and information solutions, reported the sale of NDCHealth Holdings, the holding company for its German information management operations, to the 49% minority stockholder and former owner of this business.

NDC said that the proceeds from the sale would be used to pay down senior debt. The company said it would incur a loss from the sale of about $7.4 million, or 21 cents a diluted share, reflected in discontinued operations in the fourth quarter ended May 27. The company said that its debt balance, following use of net cash proceeds, would be about $260 million.

Walter Hoff, chairman and CEO of NDC, said that the transaction completes the company’s plan to spin off non-core assets, “in order to focus NDCHealth on the best U.S. market opportunities. We enjoy very strong competitive positions in four key sectors of the U.S. healthcare industry, and we look forward to leveraging our recently released products and services.”

The company also reported that the Internal Revenue Service agreed to NDCHealth’s settlement offer related to an audit of a claimed deduction from a divestiture in its FY01 income tax return. As a result, NDCHealth expects to record a $3.7 million tax benefit, or 10 cents a diluted share in fiscal 4Q05 related to the reversal of a tax reserve, to be reflected as part of the company’s discontinued operations.

NDCHealth develops systems and information management solutions intended to improve operational efficiencies and business decision making for providers, retail pharmacy and pharmaceutical manufacturers.

In other dealmaking activity:

My Medical CD (New York) reported being “in the final stages” of negotiations of a joint venture with the Imaging Technology Group (Irvine California), a company focused on document imaging.

My Medical said that the acquisition would take it “into the forefront of portable medical records . . . as well as complying with President Bush’s mandate to have all medical records portable by the year 2006.”

My Medical has developed an interactive mini-CD that contains an encoded personal medical history, its small size making it able to be carried in a wallet, pocket or purse. The CD can be read in seconds by emergency personnel; reduces the possibility of long-term complications from emergency treatment; acts as a gateway to the patient’s entire file with important updates; and puts the entire patient record at a physician’s disposal.

“The company’s approach is to sell to the patient – either directly or via an organization in which he is a member,” said Jim Hogan, My Medical’s president. “In the next few weeks we will be announcing several contracts.“

United Surgical Partners International (USPI; Dalas) reported signing a joint venture agreement with North Kansas City Hospital to develop and operate a network of freestanding ambulatory surgery centers in the Kansas City area. Terms of the deal were not disclosed. The joint venture purchased an ownership interest in two facilities located in the greater Kansas City area: Liberty Surgery Center, a two-OR and one procedure room facility, and Briarcliff Surgery Center, similarly with two ORs and one procedure room.

USPI has ownership interests in or operates 92 surgical facilities, 58 jointly owned with not-for-profit healthcare systems. The company also operates three facilities in London.

Priority Healthcare (Lake Mary, Florida) reported that it has closed the acquisition of the specialty infusion pharmacy and medical management operations of SpectraCare (Louisville, Kentucky). Terms were not disclosed.

Steve Cosler, president and CEO of Priority, said, “This acquisition will accelerate the growth of our specialty infusion business, which is an important component of our expanding services strategy.”

SpectraCare is a specialty infusion company with a medical management component. Since its inception in 1988, it has grown from a single location in Louisville to six pharmacies in four states. The company offers full specialty infusion services with its pharmacies and network management on a fee-for-services basis for managed care organizations under the name Care Continuum.

Priority provides complex therapies, related disease treatment programs, biopharmaceuticals and other services for patients, payors, physicians and pharmaceutical manufacturers. The specialty areas serviced include: oncology, gastroenterology, reproductive endocrinology, neurology, hematology, pulmonology, ophthalmology, rheumatology, endocrinology, infectious disease and nephrology, and ambulatory surgery.