A Medical Device Daily

Laboratory Corporation of America Holdings (LabCorp; Burlington, North Carolina) said it has entered into a definitive agreement to acquire all of the outstanding shares of Esoterix (Austin, Texas), a provider of specialty reference testing, for about $150 million in cash. The transaction, which is subject to regulatory approval, is expected to close in 2Q05.

"We are pleased to have the opportunity to join with an organization like Esoterix, a leading laboratory services company focused on innovative diagnostic science, superior customer service, and inventive new products," said Thomas Mac Mahon, LabCorp's chairman and CEO.

He said the addition of Esoterix, "including the highly regarded brands like Cytometry Associates, Endocrine Sciences, Colorado Coagulation Consultants, and Allergy Testing Labs, further enhances our position as the scientific leader in the laboratory industry. Our plan is to let these excellent laboratories play a key role complementing our existing businesses in these important testing areas after the merger."

Esoterix's testing menu includes hematopathology consultations, flow cytometry, cytogenetics, immunohistochemistry, coagulation, fluorescence in situ hybridization (FISH), molecular genetics and tumor markers. The company has nine laboratories in the U.S. and one in Western Europe.

LabCorp is a developer of diagnostic technologies. It offers clinical assays ranging from blood analyses to HIV and genomic testing.

Vital Images (Minneapolis), a provider of enterprise-wide advanced visualization software, and Toshiba Medical Systems (TMS; Tochigi, Japan), one of the world's leading diagnostic imaging manufacturers, have agreed to renew their U.S. and international marketing and distribution agreement for two years, through 2006.

As under the previous agreement, Toshiba will offer Vital Images' Vitrea 2 software through its subsidiaries and distributors in more than 50 nations in North and South America, Europe, the Middle East, Africa, Australia and Asia, except Japan.

Since 2000, Toshiba has been providing Vitrea software as the advanced visualization and analysis software of choice to customers purchasing Toshiba's Aquilion and other CT scanners.

Vitrea 2 is Vital Images' newest generation of medical imaging software for diagnostic evaluation of computed tomography (CT) and magnetic resonance image data. The software features real-time navigation of 3-D volume data, permitting the user to create 2-D and 3-D views of human anatomy, and to interactively navigate within these images to better visualize and understand internal structures and disease conditions.

"Vital Images and Toshiba have enjoyed a very successful partnership for five years, and we're pleased to extend our agreement," said Jay Miller, president and CEO of Vital Images. "As part of our renewed alliance, we will collaborate more on joint product development, especially in the rapidly expanding cardiac market."

Toshihiro Rifu, general manager of the CT systems division for Toshiba Medical Systems, said, "As physicians increasingly use scanners that produce an enormous volume of images per study, fast and easy-to-use advanced visualization software is needed to optimize workflow and clinical benefits."

A Medical Device Daily

Laboratory Corporation of America Holdings (LabCorp; Burlington, North Carolina) said it has entered into a definitive agreement to acquire all of the outstanding shares of Esoterix (Austin, Texas), a provider of specialty reference testing, for about $150 million in cash. The transaction, which is subject to regulatory approval, is expected to close in 2Q05.

"We are pleased to have the opportunity to join with an organization like Esoterix, a leading laboratory services company focused on innovative diagnostic science, superior customer service, and inventive new products," said Thomas Mac Mahon, LabCorp's chairman and CEO.

He said the addition of Esoterix, "including the highly regarded brands like Cytometry Associates, Endocrine Sciences, Colorado Coagulation Consultants, and Allergy Testing Labs, further enhances our position as the scientific leader in the laboratory industry. Our plan is to let these excellent laboratories play a key role complementing our existing businesses in these important testing areas after the merger."

Esoterix's testing menu includes hematopathology consultations, flow cytometry, cytogenetics, immunohistochemistry, coagulation, fluorescence in situ hybridization (FISH), molecular genetics and tumor markers. The company has nine laboratories in the U.S. and one in Western Europe.

LabCorp is a developer of diagnostic technologies. It offers clinical assays ranging from blood analyses to HIV and genomic testing.

Vital Images (Minneapolis), a provider of enterprise-wide advanced visualization software, and Toshiba Medical Systems (TMS; Tochigi, Japan), one of the world's leading diagnostic imaging manufacturers, have agreed to renew their U.S. and international marketing and distribution agreement for two years, through 2006.

As under the previous agreement, Toshiba will offer Vital Images' Vitrea 2 software through its subsidiaries and distributors in more than 50 nations in North and South America, Europe, the Middle East, Africa, Australia and Asia, except Japan.

Since 2000, Toshiba has been providing Vitrea software as the advanced visualization and analysis software of choice to customers purchasing Toshiba's Aquilion and other CT scanners.

Vitrea 2 is Vital Images' newest generation of medical imaging software for diagnostic evaluation of computed tomography (CT) and magnetic resonance image data. The software features real-time navigation of 3-D volume data, permitting the user to create 2-D and 3-D views of human anatomy, and to interactively navigate within these images to better visualize and understand internal structures and disease conditions.

"Vital Images and Toshiba have enjoyed a very successful partnership for five years, and we're pleased to extend our agreement," said Jay Miller, president and CEO of Vital Images. "As part of our renewed alliance, we will collaborate more on joint product development, especially in the rapidly expanding cardiac market."

Toshihiro Rifu, general manager of the CT systems division for Toshiba Medical Systems, said, "As physicians increasingly use scanners that produce an enormous volume of images per study, fast and easy-to-use advanced visualization software is needed to optimize workflow and clinical benefits."