A Diagnostics & Imaging Week
Viasys Healthcare (Conshohocken, Pennsylvania) reported acquiring the global Medical Division (Woking, UK) of Oxford Instruments, Oxford Instruments Medical (Surrey, UK), for about $46 million ( 24 million).
The largest business of the Medical Division of Oxford is neurodiagnostics, primarily electromyography (EMG) equipment and neuro supplies (EMG needles).
Viasys called the products manufactured by the Medical Division as "both intuitive and innovative, while its patented EMG needle design offers improvements in both clinical performance and patient comfort." It added: "The obstetrics and cardiology businesses also bring valuable brand recognition and are backed by a reputation for product quality and technological innovation."
Lori Cross, group president of Viasys NeuroCare, said that the acquisition "represents a significant event in the global neurovascular marketplace. After the complementary products, installed base and operations are combined, Viasys will offer its hospital and physician-office customers the most comprehensive portfolio of single and multi-modality solutions available."
Oxford Instruments Medical reported 2004 revenue of about $57 million.
Randy Thurman, president, chairman and CEO of Viasys, termed his company "the leading provider of neurodiagnostic systems and supplies. As the industry continues to consolidate, we expect the combined skills of Oxford Instruments Medical and Viasys to deliver best-in-class, multi-modality systems designed to improve outcomes for caregivers and their patients." He said the Medical Division deal "accelerates our strategy of building our leadership position in neurological and respiratory technologies, increasing sales from medical disposables and acquiring products that fit within our worldwide sales, service and distribution."
Viasys is focused on the respiratory, neurocare and medical and surgical markets; its trademarks include VMAX, LYRA, AVEA, VELA, NicoletOne, Viking Quest, Endeavor CR, Sensormedics, Corpak, Grason-Staddler Bird, Bear, Jaeger, Toennies and EME. Its businesses are conducted through its Respiratory Care, NeuroCare, MedSystems and Orthopedic units.
Biophan Technologies (West Henrietta, New York) said it has completed the acquisition of a majority interest in Amris (Castrop-Rauxel, Germany), bringing the company what it said is "exclusive access to key patents in MRI technology and a world-renowned scientific staff."
Amris is an innovator in MRI-safe and image-compatible medical devices and technology solutions. It possesses a suite of technology patents that enable effective MRI imaging of a range of important medical devices, including stents and other vascular implants.
The newly acquired company will be renamed Biophan-Europe and will serve as Biophan's chief European marketing and research presence.
Amris subsidiary MRC Corp. was included in the acquisition. The principals and personnel from Amris and its MRC subsidiary bring existing contractual and consulting agreements with many prominent biomedical device and MRI machine manufacturers. As a result, Biophan said the acquisition significantly expands its international technology and business relationships in the European medical device industry and the worldwide scientific community.
"This is a significant acquisition on many fronts for Biophan," said CEO Michael Weiner. "It brings us a strong combination of both world-renowned scientific and medical personnel, and critical technology and patents that will enhance the adaptation of our MRI-related solutions. Additionally, the increased access to MRI testing capabilities will support our growing base of customers wishing to adapt their devices for MRI safety and MRI visualization, while providing new revenue sources to Biophan."
The acquisition enriches Biophan's intellectual property portfolio, with licenses to 15 issued and pending U.S. and international patents covering imaging of medical devices such as stents, vena cava filters and other vascular implants.
One of the main benefits of the transaction, according to Biophan, is the newly established relationship with Michael Friebe, PhD, and partner Andreas Melzer, MD, research physician, surgeon and chief research officer of Amris. Friebe is an internationally respected scientist and entrepreneur who has specialized in MRI-related physics and companies. Melzer is a professor of applied biomedical engineering, and a prolific innovator in the field, who has co-invented more than 30 patents and has authored over 150 publications.
Friebe will lead Biophan-Europe, and will join Biophan's board of directors. Melzer will join the Biophan scientific advisory board, and will lead many of Biophan's R&D projects.
Biophan develops technologies designed to make biomedical devices safe and compatible with the MRI environment.
The deal was first disclosed in January.
Women's health company Cytyc (Marlborough, Massachusetts) said that it received early termination of the waiting period under the Hart-Scott-Rodino waiting period in connection with its planned acquisition of privately held Proxima Therapeutics (Alpharetta, Georgia), a company that develops and markets delivery systems for the treatment of cancer. Early termination of the waiting period satisfies one of the conditions necessary to complete the pending acquisition.
The two companies disclosed on Feb. 9, that they had entered into a definitive merger agreement for Cytyc to acquire Proxima for a purchase price of $160 million, plus a two-year earnout based on incremental sales growth in breast related products, to be paid out of existing cash.
Proxima's lead product, the MammoSite radiation therapy system, is a single-use device for the treatment of breast cancer that positions radiation sources directly into the post-lumpectomy site to optimize radiation treatment delivery while minimizing damage to healthy tissue.