CardioTech International (Woburn, Massachusetts) reported completing the purchase of the outstanding common stock of CMED Catheter and Disposables Technology (CDT; Plymouth, Minnesota), a subsidiary of Colorado MEDtech (Boulder, Colorado), for $1.3 million in cash. CDT specializes in the design, development and manufacture of disposable medical devices such as delivery systems for stents and drug delivery, catheters used in angioplasty, brachytherapy, minimally invasive surgery, interventional radiology, electrophysiology, urology, infertility and critical care. Dr. Michael Szycher, chairman and CEO of CardioTech, said that the acquisition is the company's second and is part of a strategy of vertical integration. "CardioTech will now have the capability of producing finished medical devices utilizing our proprietary polymer technology to provide additional value and increase market share," Szycher said. Colorado MEDtech said the sale was part of its strategy to focus on its core business of advanced medical technology outsourcing and medical imaging.
Genzyme General (Cambridge, Massachusetts) has agreed to acquire Wyntek Diagnostics (San Diego, California) in a cash deal valued at about $65 million. Both Genzyme and Wyntek are developing quantitative rapid tests for use in the cardiovascular diagnostic market.
Integral Nuclear Associates (INA; New York) purchased the assets of Nuclear Imaging Systems (NIS) and Cardiovascular Concepts, operator of 14 fixed-site nuclear cardiology imaging centers in Pennsylvania, New Jersey, Delaware and Maryland. The sellers had filed for Chapter 11 bankruptcy in August 2000. INA plans to continue the operations of the existing cardiac imaging sites and to incorporate those sites into the nuclear cardiology business operated by the Integral group of companies in the Northeast. INA said it has offered jobs to all the current NIS employees. The imaging centers provide a range of nuclear cardiology services, including cardiac stress tests, SPECT, perfusion and wall motion studies. Sandra Atkinson, who has 10 years' experience in medical imaging facility operations, was named general manager of the new company.
Stayhealthy (Monrovia, California) has completed the acquisition of Atheart (Minneapolis, Minnesota), developer of the Atheart ECG-100, which allows a user to perform a complete risk assessment at home, and guides action for any cardiovascular risk detected. The technology links to a web site to store and track results and allow health care professionals to remotely interpret the results. Atheart will continue operations in Minneapolis.