Biomec (Cleveland, Ohio) has acquired InnoMedica (Minneapolis, Minnesota), a maker of cardiovascular implantable devices such as pacemaker wires and catheters. Biomec has been a part-owner of InnoMedica since 1998. Biomec Chairman and CEO Trevor Jones said the acquisition of 100% of InnoMedica "will consolidate our cardiovascular device development and manufacturing activities in a single location," and that the acquisition marked a continuation of his firm's strategy to be represented in major biomedical locations in the U.S.
Boston Scientific (Natick, Massachusetts) said it will acquire the assets and intellectual property of Embol-X (Mountain View, California) in the field of percutaneous embolic protection devices for less invasive procedures. Additionally Boston Scientific will acquire a 10% equity interest in Embol-X. Other terms were not disclosed. Embol-X's embolic protection technology is designed to reduce complications caused by embolic particles traveling in the bloodstream during an interventional procedures. The purchase should create more rapid development and of both the percutaneous and surgical applications of the technology, according to Boston Scientific, specifically in saphenous vein graft procedures, with indications for the carotid artery and renal arteries to follow.
GE Medical Systems (Waukesha, Wisconsin) will acquire Lunar (Madison, Wisconsin), a maker of systems for diagnosing osteoporosis and metabolic bone diseases and for orthopedic applications. Lunar shareholders will receive GE stock at $17 per share, the number of shares based on the trading prices of GE stock for a period of time prior to closing, which is expected 3Q00. Lunar granted GE an option to acquire newly issued shares of Lunar common stock, or about 19.9% of its total shares outstanding, at the $17 price.
Getings Industries (Stockholm, Sweden) acquired Gestion Techno-Medic (Saint-Hyacinthe, Quebec, Canada), developer of a ceiling-mounted hoist, with the primary market for the product concentrated in northwest Europe and Japan. Details of the purchase were not disclosed. Getings develops infection control, patient handling equipment and hygiene products for the elderly and disabled.
Guilford Pharmaceuticals (Baltimore, Maryland) will acquire Gliatech (Cleveland, Ohio) in a merger valued at about $203 million. Gliatech shareholders will receive 1.38 shares of Guilford common stock for each Gliatech share owned, retaining 37% ownership in the new company. The merged company – to be named Guilford Pharmaceuticals and headquartered in Baltimore – will have three commercialized products: Adcon-L gel, for the inhibition of post-surgical scarring and adhesions following lumbar spine surgery; Gliadel Wafer, a site-specific biopolymer-based chemotherapeutic for treating recurrent glioblastoma multiforme, or malignant brain cancer; and Adcon-T/N Gel, for the inhibition of post-surgical scarring and adhesions following tendon and peripheral nerve surgery. Adcon-L is approved in the U.S. and 28 other markets, while Gliadel, marketed by Aventis SA (Frankfurt, Germany), also is approved in the U.S. and 21 other countries. Adcon-T/N Gel is available in 28 markets, but is not yet approved in the U.S.
Healtheon/WebMD (Atlanta, Georgia) completed its purchase of Envoy, the electronic data interchange unit of Quintiles Transnational (Research Triangle Park, North Carolina) under the terms reported in January. Envoy was acquired in exchange for 35 million shares of Healtheon/WebMD stock and $400 million in cash. With the acquisition, Healtheon/WebMD will process more than 2 billion transactions a year for U.S. health care customers.
Henry Schein (Melville, New York) has acquired Integra Medical, (Camarillo, California), a maker of dental digital imaging technology, in a pooling transaction. The terms were not disclosed. The purchase "significantly enhances Henry Schein's position as a world leader in digital dentistry," said Stanley Bergman, chairman, CEO and president of Henry Schein. Integra will become part of Henry Schein's Technology Group, and Henry Schein's U.S dental subsidiary, Sullivan-Schein Dental, will be the exclusive distributor of Vipersoft, a software product developed by Integra.
Meridian Holdings (Los Angeles, California) said it will purchase all the assets of Israel-based Sirius Computerized Technologies Ltd., including the intellectual property known as MedMaster and the associated virtual multi-object-architecture database, as well as all components and subsystems.
Pathology Consultants of America (PCA; Nashville, Tennessee) and PathSource, both providers of anatomic pathology services and diagnostic information, have agreed to merge into a new company, headquartered in Nashville, named Inform DX. "The merger creates a leading diagnostic information company with operations from coast-to-coast," said Brian Carr, PCA's CEO, who will head the new firm. Inform DX will own or manage 10 independent laboratories, operate in 11 states, employ over 375 support personnel, and will be affiliated with 92 pathologists.
Stryker (Kalamazoo, Michigan) will acquire Image Guided Technologies (IGT; Boulder, Colorado), a maker of optical localizers for medical and industrial purposes, for $12 million in stock. IGT will become part of Stryker's Leibinger Division and will remain in Boulder. The purchase is set for closing during 3Q00.