Arrhythmia Research Technology (ART: Fitchburg, Massachusetts) reported that its subsidiary, Micron Acquisition, has broken off talks with Select Engineering (also Fitchburg) concerning Micron's purchase of certain operating assets of Select. The potential purchase was first announced in a May 23 letter of intent. ART is a provider of cardiology products, including signal-averaged ECG, resting and stress ECG and computerized cath lab and hemodynamic monitoring.
Serologicals (Norcross, Georgia) reported completing the integration of Intergen's (Purchase, New York) operations into its activities, by combining the administrative, commercial, manufacturing and research and development operations of the two companies. The completion of integration results in revenue growth and earnings opportunities that support Serologicals' strategic focus, the company said, "including the implementation of synergies that are expected to result in annualized cost savings of approximately $3 million." Serologicals is a provider of biological products and enabling technologies used in the research, development and manufacturing of biologically based life science products. The products are used in oncology, hematology, immunology, cardiology and infectious diseases applications, as well as in the study of molecular biology.
Wipro (Santa Clara, California) said its board of directors approved an agreement to acquire GE Medical Systems Information Technologies Private Ltd. (GEMSIT Private Ltd.; Bangalore, India). The transaction is valued at approximately $5.73 million. As a part of the deal, Wipro also acquired Healthcare Information Systems Intellectual Properties owned by GE Medical Systems (Waukesha, Wisconsin). Upon completion of the transaction, the company will be renamed Wipro Healthcare IT Ltd. GEMSIT Private Ltd. is a provider of healthcare IT services in India and the Middle East. It was incorporated in October 2000 as a joint venture between GE Medical Systems and Citadel Health Ltd. to develop software packages and offer software and solutions in the areas of healthcare and hospital information systems. GE Medical Systems will distribute the healthcare IT products acquired by Wipro into the markets of Indonesia, Thailand and Middle East, and Wipro GE Medical Systems Ltd. will continue to distribute those products in South Asia. The acquisition has received required internal approvals of the respective companies and is subject to various closing conditions and statutory approvals. Wipro Healthcare and LifeScience was set up as a separate business segment ofWipro.