Eastman Kodak (Rochester, New York) reported entering into an agreement to acquire Orex Computed Radiography (Yokneam, Israel), a provider of compact computed radiography (CR) systems enabling the acquisition of patient X-ray images digitally, for about $50.5 million in cash. Kodak said it expects Orex to add roughly $32 million to its 2005 revenue, reflecting about 10 months of Kodak ownership. Orex's 2004 revenue was about $28 million. The technology behind the hardware and software that make up Orex's small-format CR products have resulted in flexible compact systems for specialty markets such as orthopedics, diagnostic imaging centers and dentistry. The company's systems also are used for in-room CR needs such as in emergency, pediatrics and intensive care departments enabling medical staff to stay in contact with patients during the exam. Orex has U.S. offices in Auburndale, Massachusetts. The deal is expected close by the end of the first quarter.
A team of cardiac service experts has launched eCardio Diagnostics (The Woodlands, Texas) to provide, they said, "comprehensive cardiac services, including cardiac event monitoring, digital holter monitoring and pacemaker follow-up." eCardio Diagnostics is a provider of non-invasive, portable cardiac event monitors that capture and record cardiac arrhythmias as they occur, while patients maintain normal lifestyles. It also offers Web-based solutions that enable real-time patient enrollment and physician access to patient information whenever and wherever they need it.
Genyx Medical (Aliso Viejo, California) reported closing the sale of the assets related to its Uryx product to C. R. Bard (Murray Hill, New Jersey) for $60 million. The final closing followed the FDA approval of Genyx's pre-market application for Uryx, a urethral bulking agent for the treatment of stress urinary incontinence. The mid-December approval followed completion of a North American multi-center randomized clinical trial in 253 women, comparing Uryx to Bard's Contigen implant, an injectable collagen material. Uryx is a biocompatible copolymer that is injected in a liquid state into tissue surrounding the urethra and then transforming into a solid spongy mass which serves to provide added bulk to the urethra. Bard said it anticipates launch of the product in the first half of this year, with marketing to be done by its Urological division.
Neich Medical (Hong Kong) reported that it has acquired Orbus Medical Technologies (Fort Lauderdale, Florida). The acquisition is the outcome of a long, synergistic relationship, the companies said. Neich Medical was previously Orbus' distributor for the Asia-Pacific region and manufactures the delivery system for Orbus' R stent, while Orbus is leading Neich's research and development efforts for drug-eluting stents and other advanced technologies. Going forward, the combined company will be known as Orbus Neich. Orbus Neich will have a global reach, with sales offices in eight countries, manufacturing operations in the Netherlands and China, and R&D facilities in the U.S. and Germany.
Merge Technologies (Milwaukee), doing business as Merge eFilm, reported the closing of its acquisition of AccuImage Diagnostics (San Francisco), a developer of software for advanced visualization, analysis and management of medical imaging data from medical imaging modalities. The transaction was priced at $6 million in cash. Merge eFilm said it will maintain AccuImage's San Francisco office. The AccuImage software portfolio is used by radiologists and specialty physicians such as cardiologists, gastroenterologists, pulmonologists and orthopedic surgeons. AccuImage's visualization tools released or in development include advanced 3-D/4-D visualization, calcium scoring, virtual colonoscopy, CT angiography, lung nodule detection, visceral fat measurement and image stitching.
St. Jude Medical (St. Paul, Minnesota) completed the acquisition of Endocardial Solutions (ESI; also St. Paul) for $11.75 per share in cash for an aggregate price of about $272 million. The deal was announced last September. ESI makes the EnSite System used for the navigation and localization of diagnostic and therapeutic catheters employed for atrial fibrillation ablation and other electrophysiology catheterization procedures. The EnSite System also is used for the diagnostic mapping of abnormal heart rhythms with a 3-D graphical display of the heart's electrical activity.
Thermo Electron (Waltham, Massachusetts) entered into a definitive agreement to acquire the Kendro Laboratory Products division of SPX (Charlotte, North Carolina) for $833.5 million in cash, subject to a post-closing balance sheet adjustment. SPX said it expects after-tax net proceeds from the transaction to be about $675 million and intends to use the proceeds to pay down debt and buy back equity. Kendro makes laboratory equipment for sample preparation, processing and storage, used primarily in life sciences and drug discovery laboratories as well as in clinical laboratories.
The Viasys MedSystems business unit of Viasys Healthcare (Conshohocken, Pennsylvania) reported acquiring substantially all of the assets of Navion Biomedical (Stoughton, Massachusetts), manufacturer of the Navigator Bionavigation system. The Navigator system is designed to facilitate the correct placement of peripherally inserted central catheters (PICCs) and central venous catheters. More than 1.2 million PICC lines are inserted in the U.S. annually.