• Fisher Scientific International (Hampton, New Hampshire) has signed a definitive agreement to acquire Cole-Parmer Instrument (Vernon Hills, Illinois) in a $205 million cash transaction. Cole-Parmer is a global manufacturer of specialty instruments, equipment and supplies to the scientific research and industrial markets. Fisher Scientific's self-manufactured products and services include organic and inorganic chemicals; diagnostic products; laboratory instruments and equipment; lab workstations and fume hoods; custom synthesis for drug discovery; and contract-packaging services for Phase III and Phase IV clinical trials of new prescription drugs. Once fully integrated in late 2002, Fisher said it expects to generate approximately $5 million of incremental operating income annually as a result of the acquisition. Since the acquisition qualifies for a joint election tax benefit, which on a present-value basis provides $30 million in tax benefits, the effective cash payment for this transaction will be reduced to approximately $175 million, Fisher said. It said it will fund the acquisition primarily with cash generated from a recent equity offering. Closing of the transaction is anticipated early in the current quarter.
  • Medstone International (Aliso Viejo, California) has purchased for $1 million in cash a 25% interest in Arcoma AB, a Swedish designer and manufacturer of medical equipment. Arcoma is the mechanical designer and manufacturer of Medstone's new digital urology system, UroPro 2000. In addition, Medstone is the exclusive U.S. distributor for Arcoma's other imaging products. The mechanical patient-handling portion of Medstone's UroPro 2000 is manufactured by Arcoma, while the digital imaging portion is manufactured by Ziehm-International Medical Systems (Nuremberg, Germany). Medstone makes lithotripters in the U.S., and also manufactures and distributes urology tables and a line of X-ray equipment.
  • MicroHeart (Mountain View, California) has acquired certain assets of Angiosense (Cupertino, California), a privately held company developing needle-free injection technology for cardiovascular and cancer treatment applications. The company said the acquisition adds to MicroHeart's portfolio of devices and technology for needle-free or jet delivery of drugs, biotherapeutics and cells to different organs in the body for therapeutic and diagnostic applications. MicroHeart said it will also benefit by assuming Angiosense's responsibilities under an exclusive relationship with Bioject (Portland, Oregon), a developer of needle-free injection technology. "Needle-free injection technology complements our existing line of injection delivery devices," said Richard Mueller, president and CEO of MicroHeart. He added that the acquisition of selected Angiosense assets and the relationship with Bioject "will facilitate the incorporation of needle-free injection technology into all three of our delivery platforms." Mueller said that MicroHeart will be working closely with Bioject to complete development of needle-free delivery systems for cardiovascular applications. MicroHeart makes surgical, minimally invasive and catheter-based delivery devices for the delivery of therapeutic agents directly to the heart, coronary vessels and other organs.
  • SeraCare (Los Angeles, California), a bioscience company and supplier of plasma-based diagnostic products to the biotechnology and pharmaceutical markets, said that at a special Sept. 12 meeting its stockholders approved its merger with Instituto Grifols SA, a subsidiary of Probitas Pharma SA. Consummation of the merger is subject to a variety of closing conditions, including spin-off of SeraCare's wholly-owned subsidiary, SeraCare Life Sciences (Oceanside, California). The record date for the spin-off was Sept. 24. SeraCare makes plasma-based therapeutic and diagnostic products and operates 42 source plasma and antibody collection centers throughout the U.S., selling its products to pharmaceutical manufacturing and biotech companies worldwide for use in making plasma-derived therapeutic and diagnostic products. SeraCare Life Sciences makes plasma-based diagnostic products and distributes therapeutic products in domestic and international markets.
  • Syncor International (Woodland Hills, California) has acquired privately held InteCardia (Chapel Hill, North Carolina), a provider of cardiac imaging services and equipment to cardiologists. According to Syncor, the acquisition, which is expected to be immediately accretive to earnings, will expand the range of services it makes available to cardiologists. InteCardia had $11 million in annual revenue in 2000 and will continue to operate independently as a part of Syncor International. Syncor also has acquired Multi-Medica SA, Medcon SA and affiliated companies, a privately held group of distributors of radiology and cardiology products with focus primarily on Belgium, Luxembourg and France. Multi-Medica and Medcon distribute radiological film. Multi-Medica and Medcon recently signed an exclusive agreement with Sorin Biomedica Cardio of Italy to distribute cardiology products in Belgium and Luxembourg. Syncor said it expects this acquisition will be accretive to its earnings. Syncor is a provider of high-tech health care services, concentrating on nuclear pharmacy services, medical imaging, niche manufacturing and radiotherapy.