Cardiac Science (Irvine, California) has acquired Cadent Medical (Bedford, Massachusetts), a private company that has developed a cell phone-sized defibrillator to be worn by mobile cardiac patients. Cardiac Science issued 4.5 million shares of restricted common stock to Cadent Medical shareholders for a total purchase price of $22.5 million. Cardiac Science said it will integrate its software into the new device to assure that a patient, whether in a hospital or at home, receives an immediate defibrillation when a life-threatening heart rhythm occurs. Cadent offers additional technology for use in Cardiac Science's existing and planned product line. "This acquisition extends our product reach beyond the hospital to the emerging at-home market," said Raymond Cohen, president and CEO of Cardiac Science.
World Heart (Ottawa, Ontario, Canada) has completed its purchase of the Novacor (Oakland, California) left ventricular assist business of Edwards Lifesciences (Irvine, California), with Edwards receiving preferred stock which, at its option, can be exchanged for about 5 million World Heart common shares (or 24.9% of World Heart's outstanding stock). Additionally, Edwards has invested $20 million in World Heart convertible preferred stock and will maintain worldwide distribution rights to the Novacor heart assist system, as well as the HeartSaver VAD system being developed by World Heart.
Jomed (Helsingborg, Sweden) said it will acquire catheter manufacturer Medi-Dyne (Glens Falls, New York) for an undisclosed amount of cash. Jomed Chief Executive Tor Peters said recently that it had two acquisitions in the pipeline, one a smaller purchase and the other a larger U.S. firm.
LifeStream International (Haverhill, Massachusetts), the cardiopulmonary group formed a year ago from units of C.R. Bard, Minntech and Surgimedics, is acquiring for an undisclosed price Polystan (Vaerlose, Denmark), a maker of oxygenators, vacuum-assisted venous drainage controllers, sensors and monitors. LifeStream, which already includes oxygenators in its product line, also markets hemoconcentrators, cardioplegia products, cannulae and catheters.
Philips Medical Systems (Best, the Netherlands) has acquired CardioLogica, the Cardiology Information System for Electronic Patient Folder creation from Cardiovascular Computer Systems (Milwaukee, Wisconsin). CardioLogica brings together cardiac images with clinical and administrative data. The system provides modules for patient scheduling, automated report generation and distribution and other administrative functions. Philips said it will incorporate the system into its own Inturis for Cardiology system.