BSD Medical (Salt Lake City, Utah) reported that American Medical Systems (AMS; Minnetonka, Minnesota) has completed the acquisition of TherMatrx (Chicago, Illinois). The sale, which includes all of BSD's holdings in TherMatrx, was first disclosed in June. BSD will receive an initial payment of about $9 million in cash (after the withholding of escrow funds and the payment of other initial obligations) plus contingent payments based on TherMatrx sales made between July 5, 2004, and Dec. 31, 2005. BSD projects a total payout in the range of $40 million from the sale. AMS is a diversified supplier of medical devices and procedures to cure erectile dysfunction, benign prostatic hyperplasia (BPH), incontinence and other pelvic disorders in men and women. TherMatrx's flagship product is its microwave thermotherapy system for treating BPH, or enlarged prostate.

Cardinal Health (Dublin, Ohio) reported completion of its acquisition of Alaris Medical Systems (San Diego, California), with Alaris now a wholly owned subsidiary of Cardinal. In a deal valued at about $2.2 billion, each outstanding share of Alaris common stock, other than shares owned by Cardinal Health or its subsidiaries, has been converted into the right to receive $22.35 per share, in cash.

Escalon Medical (Wayne, Pennsylvania) reported that the board of Drew Scientific Group (London) has recommended that its shareholders accept Escalon's revised exchange offer. Escalon is offering 900,000 shares of Escalon common stock in exchange for all the ordinary shares of Drew Scientific. Escalon reported in April its intention to offer 0.0048 shares of Escalon common stock in exchange for each ordinary share of Drew. Drew, which is to operate as a separate Escalon division, develops instrumentation and consumables for the diagnosis and monitoring of disorders in the areas of diabetes, cardiovascular diseases and hematology, as well as veterinary hematology and blood chemistry.

Inverness Medical Innovations (Waltham, Massachusetts), a maker of rapid diagnostic products, reported that it has acquired an exclusive, worldwide license in the field of women's health to certain patents owned by Metrika (Sunnyvale, California). Inverness paid Metrika a $3 million license fee and will pay a 2% royalty on the sale of future products in the field that incorporate Metrika's echnology, including an annual minimum royalty of $500,000, beginning with the year ending on the first anniversary of the agreement. Inverness' aggregate royalties payable under the license are capped at $2 million, after which the license will be considered fully paid. Inverness said that the license has potential for facilitating its development of a series of digital women's health products, the first of which is slated for introduction next year.

Millenium Holding Group (Henderson, Nevada) has entered into an agreement to merge with Sutura (Fountain Valley, California), a developer of minimally invasive vessel closure devices to suture the puncture created in the femoral artery during catheter-based procedures, primarily in the fields of cardiology and radiology. Terms were not disclosed. Millenium said the merger would position the combined company to launch Sutura's products in the U.S. and expand Sutura's existing presence in Europe.

Newport (Irvine, California) reported completing its acquisition of Spectra-Physics, the optical technologies unit of Thermo Electron (Waltham, Massachusetts), for a total of $300 million. Thermo retains ownership of a small business in the unit that makes digital cameras used in Thermo's Scientific Instruments Division.

Siemens Medical Solutions (Malvern, Pennsylvania) has acquired CADVision Medical Technologies (Jerusalem, Israel), strengthening its position in the area of computer-aided detection (CAD) and diagnosis and enhancing its oncology solutions product portfolio. Terms were not disclosed. Founded in 1994, CADVision is developing a mammography CAD system to help in the detection and analysis of breast lesions, based on patented algorithms in combination with what Siemens termed "advanced classification capabilities." CADVision's technology is currently undergoing clinical validation.

Smiths Medical (Weston, Massachusetts), a division of Smiths Group plc (London), reported completing the acquisition of the U.S. respiratory care device firm DHD Healthcare (Wampsville, New York) from Riverside Capital (New York/Cleveland, Ohio) for a total of $55 million in cash. DHD makes products used to care for patient respiratory needs in a variety of therapeutic and critical-care applications. It will be integrated into Smiths Medical ASD, the anesthesia and safety devices division of Smiths Medical in the U.S.

Technology Acquisition (TAC; Cupertino, California) said it signed a definitive share exchange agreement with Minrad (Buffalo, New York) under which the shareholders of Minrad would exchange their shares for shares of TAC common stock on a share-for-share basis, and Minrad would become a wholly owned subsidiary of TAC. Privately held Minrad designs and licenses acute care devices and produces and markets inhalation anesthesia and analgesia. Under the transaction, TAC will issue about 22.9 million shares in exchange for all the outstanding Minrad common stock. If the transaction is completed, the directors and the managers of Minrad would become the directors and management of TAC, and TAC will reincorporate in Delaware under the Minrad name.