Apache Medical Systems (McLean, Virginia) has signed an agreement to sell its clinical outcomes business to Cerner (Kansas City, Missouri) for about $3.6 million. Apache markets software that provides outcomes information for critical care, cardiovascular and HIV/AIDS patients and said it is moving in a new strategic direction with the acquisition of MetaContent (Denver, Colorado), a developer of data management solutions for health care providers. Apache said it intends to develop financial and clinical applications, including medical coding. Closing of the Cerner transaction is expected immediately after the company's annual meeting, the date yet to be set.
Apogent Technologies (Portsmouth, New Hampshire) has acquired the disposable glass culture tube (DCT) business of Kimble Glass (Vineland, New Jersey). The business will be owned by and consolidated into Apogent's subsidiary, Chase Scientific Glass, which makes DCTs that are used in general laboratory applications, particularly blood collection, blood banking, urinalysis and certain cell culture procedures.
Bruker AXS (Karlsruhe, Germany), a provider of advanced X-ray solutions for the life and advanced materials sciences, closed the acquisition of the Nonius (Delft, the Netherlands) crystallography business from Delft Instruments. Terms were not disclosed. Nonius, with 2000 revenues of more than $8 million, will become Bruker Nonius BV, and will be the joint European center for X-ray crystallography. The combined crystallography product lines of Bruker AXS and Nonius will be marketed under the joint brand Bruker Nonius. Lieuwe Boskma will continue to lead Bruker Nonius BV as managing director and will assume the role of vice president, crystallography solutions, of Bruker AXS.
Endocare (Irvine, California), a developer of temperature-based treatments for prostate cancer and prostate obstruction, reported acquiring U.S. patent No. 5,531,742, titled, "Apparatus and Method for Computer Controlled Cryosurgery," from the patent holder. Paul Mikus, Endocare chairman and CEO, said that ownership of the patent "enhances our position in computer-guided cryoablation and the Cryocare System in general." Endocare makes cryosurgical and stent technologies for applications in oncology and urology, concentrating on devices for the treatment of prostate cancer and benign prostate hyperplasia.
Johnson & Johnson (J&J; New Brunswick, New Jersey) completed its acquisition of Heartport (Redwood City, California), a pioneer in the less-invasive cardiac surgery sector, in mid-April. The stock-for-stock deal was valued at about $81 million, with Heartport stockholders receiving 0.0307 of a J&J common share for each Heartport share held. Heartport will operate as part of the Cardiovations division of J&J's Ethicon (Somerville, New Jersey) unit. Heartport makes products for less-invasive open-chest and minimally invasive heart surgery.
Medicore (Hialeah, Florida) reported agreeing to sell its 71.3% ownership of its contracting manufacturing unit, Techdyne, to a Scottish firm, Simclar, for $10 million and 3% of sales over three years, with a $5 million maximum and $2.5 million minimum. In addition to the operations of Techdyne, Medicore operates kidney dialysis centers through Dialysis Corporation of America. Medicore distributes medical products for use in blood centers and for use in the monitoring of diabetes. Medicore said it will use the new funds to expand its medical supply and dialysis operations, and to repurchase approximately 1 million shares of its outstanding common stock. Techdyne is a contract manufacturer of electronic and electro-mechanical products for OEMs and distributors. Simclar does contract manufacturing for the medical equipment, computer peripherals and telecommunication industries.
Moyco Technologies (Montgomeryville, Pennsylvania) said it will conclude the spin-off of its dental supply business by mid-May. The company said that it will pay a partial liquidating dividend of $1.35 per share, with the possibility of its being adjusted upward depending on final closing costs and final financial terms. Moyco is a maker of professional dental supplies and precision abrasives. The dental supply business segment makes and distributes waxes, abrasives, dental mirrors, endodontic (root canal) instruments and other dental items and instruments.
Sagemark Companies (Houston, Texas) has agreed to acquire Premier P.E.T. Imaging International (Premier) and Premier Cyclotron International (PCI). The purchases give Sagemark entry into the field of PET (positron emission tomography). The two companies acquired have not yet begun operations, but are ramped up and ready. In the deal, Sagemark will issue 6,000 shares of its common stock to the stockholders of Premier and PCI. Those stockholders will be entitled to receive additional shares of the common stock of the company on an earn-out basis on terms provided for in the letter of intent. Sagemark has agreed to provide $1 million of working capital to Premier for the purpose of establishing and operating its PET centers.
Thermo Electron (Waltham, Massachusetts) has agreed to sell all the assets of its 80%-owned Thermo Trilogy (Columbia, Maryland) business to Mitsui & Co. Ltd. for approximately $25 million in cash, subject to a post-closing adjustment.