Microtek Medical Holdings (Microtek; Columbus, Mississippi) said that its newly formed Netherlands-based subsidiary, Microtek Medical BV, has acquired International Medical Products BV (IMP) and its affiliates, from Cardinal Health (Dublin, Ohio). The acquired businesses include the development, manufacturing and marketing of dip-molded medical devices, primarily ultrasound probe covers, other equipment covers, cardiac thoracic drain systems, gynecological devices and wound care products. Financial terms of the purchase were not disclosed. Completed on May 28, the acquisition is the most recent in a series of purchases by the company over the past three years to expand Microtek's Europe operations. It estimates the transaction will add about $12 million in annual revenues, will be accretive to earnings in 2005, and be slightly dilutive to 2004 earnings. Dan Lee, Microtek's president and chief executive officer, said that the purchase of IMP "strengthens Microtek's infection control product offerings to the healthcare industry [and] expands Microtek's platform of product offerings within mainland Europe. The acquisition also adds IMP's Ultracover line of latex and latex-free dipped probe covers to Microtek's existing product portfolio, thereby providing us with attractive marketing opportunities. These products will significantly enhance our own product offerings within the ultrasound specialty, both in Europe and in the U.S. Additionally, the other acquired products are complementary to our equipment and patient draping products, which specifically addresses our goal of having more products for bundling and sale to our customers."
PDSHeart (West Palm Beach, Florida), a company focused on the delivery of cardiac telemedicine, has acquired the cardiac event, Holter and pacemaker monitoring business of TransMedEx (Long Island, New York). Terms of the purchase were not disclosed. The deal, PDSHeart said, continues the expansion of its cardiac monitoring services in the Northeast, combining its commitment "to technological expertise with the reputation of TransMedEx for premium remote cardiac monitoring services." Founded in 2000, PDSHeart provides physician-prescribed remote and ambulatory care monitoring of non-symptomatic and symptomatic arrhythmia detection via landline, cellular telephone and the Internet. PDSHeart's WebHolter is the industry's first web-based digital Holter monitoring system. TransMedEx has provided arrhythmia-monitoring services to physicians and their patients in the New York and New Jersey area since 1997. PDSHeart's monitoring centers in West Palm Beach, Florida, and Conyers, Georgia, will service TransMedEx clients. Overall, PDSHeart serves 6,000 clinics, 18,000 doctors and 250 hospitals nationwide.
St. Jude Medical (St. Paul, Minnesota) said it completed its previously reported acquisition of Epicor Medical (Sunnyvale, California), a developer of high-intensity focused ultrasound (HIFU) devices for the surgical ablation of cardiac tissue. St. Jude paid $185 million in cash for all of the outstanding capital stock of Epicor that it did not already own. In May of last year, St. Jude acquired an initial ownership position in Epicor for $15 million in cash. Epicor was founded in 1999 to develop technologies for cardiac ablation and has completed a multi-center European clinical evaluation of its HIFU ablation system for the epicardial ablation of cardiac tissue. The procedure uses an approach enabling an ablation device to be placed on the outside of a beating heart, then delivering HIFU energy across the wall of the heart to create complete, precise lines of cardiac tissue ablation. Epicor Medical has received FDA 510(k) clearances for the ablation of cardiac tissue with its HIFU ablation system, including the UltraWand and UltraCinch devices. The system also has received CE mark approval. St. Jude said it would initiate limited sales in the third quarter through an expanded training and market development program. St. Jude said Epicor "met or exceeded" the previously established regulatory and clinical milestones as a condition to the acquisition, including the requirement that at least 80% of the patients treated with the Epicor system remained free of AF as well as left atrial re-entrant tachycardia as documented by a six-month post-procedure electrocardiogram.
In conjunction with Optical Sensors' (Minneapolis, Minnesota) recent name change to Vasamed, the company acquired a proprietary impedance cardiography (ICG) technology for non-invasive cardiac output (NICO) monitoring. Paulita LaPlante, president and chief executive officer, said, "In keeping with our mission to build a line of office-based diagnostic products that incorporate our wholly owned intellectual property in blood flow and tissue perfusion, we are pleased to add NICO based on impedance cardiography. This product is one of very few FDA-cleared systems that measure ICG; the most notable competitor is Cardiodynamics (San Diego, California)." LaPlante said the next few months will be spent refining user interface software and modifying certain performance features and hardware before introducing a product to market. LaPlante said, "we now control the principal components of the hemodynamic health platform we set out to create following the introduction of tissue carbon dioxide monitoring in 2000." LaPlante added that the Vasamed name "underscores our express mission to provide non-invasive diagnostic tools for a variety of conditions, all of which involve blood flow and perfusion. It better reflects the suite of products that we currently have and will be introducing for hemodynamic monitoring."