A Medical Device Daily

Mavicor (Kansas City, Missouri), which manages information technologies for ambulatory surgery centers (ASC), reported that it has reached agreement on the final terms enabling its separation from Nueterra Holdings (Leawood, Kanasas), a development and management company in the ASC industry.

When the transactions are complete, Nueterra Holdings will have sold all of its interest in Mavicor to a collection of investors, including executives and employees of Mavicor.

Mavicor also reported that it has entered into a definitive two-year agreement, with options, for the ongoing delivery of technology management services to Nueterra. Other terms of the technology management agreement were not disclosed.

Nueterra's interest in Mavicor is committed to be sold before Dec. 31.

Dan Tasset, Nueterra Holdings founder and chairman, will not be one of the investors in Mavicor going forward.

With this separation agreement, Jesse Mayhew will take on the CEO duties of the new independent venture.

Mavicor COO Stephen Campbell said, "I'm ... proud of the value proposition we have built for our ASC clients. We are offering the closest thing to a true single-source provider that the industry has ever seen. I think there is some hunger for high competence, high service, and good value. We bring all three."

Favrille (San Diego) reported that it has entered into a non-binding term sheet for a reverse merger whereby it plans to acquire all of the capital stock of a private company, MyMedicalRecords.com (MMR; Los Angles), in a stock-for-stock merger that would result in MMR becoming a wholly-owned subsidiary of Favrille.

MMR provides consumers a secure web-based product that allows documents, images and voice mail messages to be transmitted in and out of the MMR system using a variety of methods, including fax, file upload and email

If the proposed transaction is consummated on the terms set forth in the non-binding term sheet, at the effective time of the merger the existing equity holders of MMR would own about 64% of the equity of Favrille on a fully diluted basis. The existing equity holders of Favrille would own about 29% of the company.

About 7% of Favrille's equity would be newly issued to certain creditors as settlement for a portion of the outstanding debt obligations.

Favrille is in the process of negotiating with its creditors to settle its current liabilities and is required to make disclosures to creditors regarding the potential merger as part of the settlement process. Favrille's progress in settling its creditor claims, consistent with a creditor plan that is outlined in the non-binding term sheet with MMR, is a condition to the signing of a definitive agreement for the proposed merger. It is anticipated that post-merger, Favrille's common stock will continue to be traded on the OTC Bulletin Board.

The proposed merger is subject to completion of mutual diligence and the negotiation of a definitive agreement.