HomeAbout UsContact Us1-800-477-6037
Medical Device Daily
Archive Search
Home : Cardiovascular Devices & Drugs : Cardiovascular Devices & Drugs Sample Issue : Sample Article


Celera (Rockville, Maryland) has completed its previously disclosed separation from Applera (Norwalk, Connecticut), and as an independent publicly traded company now holds the businesses, assets and liabilities previously attributed to the Celera Group. At the same time, Applera reported that the name of the company has been changed to Applied Biosystems to reflect the remaining business of the company following the separation of the Celera business. With the separation of Celera, Applera will no longer operate under its former tracking stock structure. Applied Biosystems stock will continue to be listed on the New York Stock Exchange under the symbol ABI. Applera is selling its other operating group, Applied Biosystems (Foster City, California), to Invitrogen (Carlsbad, California) in a cash-and-stock deal valued at $6.7 billion which is expected to close this fall. Applied Biosystems develops instrument-based systems, consumables, software, and services. Celera is a diagnostics business delivering personalized disease management. Berkeley HeartLab (Burlingame, California), a subsidiary of Celera, offers services to predict cardiovascular disease risk and optimize patient management. Celera also commercializes a wide range of molecular diagnostic products through its strategic alliance with Abbott Laboratories (Abbott Park, Illinois) and has licensed other relevant diagnostic technologies developed to provide personalized disease management in cancer and liver diseases.

Neovasc (Vancouver, British Columbia), formerly known as Medical Ventures, a company developing specialty vascular devices, reported its name change and the expansion of its product portfolio, as the company completed the acquisition of two vascular product development companies and the closing of an $8.3 million private financing. With the closing of the acquisitions of Neovasc Medical and B-Balloon, both pre-commercial-stage device companies based in Israel, Neovasc said it has significantly expanded its new product pipeline. The pipeline includes a specialized stent for the treatment of refractory angina, as well as devices designed to improve the treatment of commonly occurring ostial lesions in the coronary and peripheral arteries. On closing the transactions, the new company's issued share capital is about 18 million shares (23 million fully diluted), including about 12 million shares, warrants and options issued in connection with the acquisitions of Neovasc Medical and B-Balloon, some 3 million shares and warrants issued in conjunction with the private financing and just under $2 million in incentive options available under a 10% rolling plan.

Signalife (Los Angeles) reported that it has received board approval to proceed with its previously disclosed merger with Heart One Global Research (London), and that a specially-formed committee has been appointed to proceed with due diligence and other matters incident to completion of the transaction. It is anticipated that the respective businesses of Signalife and Heart One will be operated in two separate wholly-owned subsidiaries, with the subsidiary holding Signalife's current business to be managed by Signalife's current management team, and the subsidiary holding Heart One's current business to be managed by Heart One's current management team. Under the merger agreement, all shareholders of both companies must physically deliver their share certificates to an independent third party tabulator. After the merger is effected, Signalife shareholders will own 94% of the surviving company. Signalife is a life sciences company focused on the monitoring, detection and prevention of disease through continuous biomedical signal monitoring. Signalife uses its signal technology to design and develop devices, therapies and/or technologies that simplify and reduce the costs of cardiovascular disease. Heart One is the holding company for a number of assets, including various heart management and distribution arms worldwide.

Theragenics (Buford, Georgia) said it would pay $47.8 million in cash for NeedleTech Products (Attleboro, Massachusetts), a private manufacturer of specialty needles and related devices. The deal is expected to close in the third quarter. With revenue of $16.9 million in 2007, NeedleTech's products include coaxial needles, biopsy needles, access trocars, brachytherapy needles, guidewire introducer needles, spinal needles, disposable veress needles, and other needle-based products. End markets served include the cardiology, orthopedic, pain management, endoscopy, spine, urology, and veterinary markets, the company said. Theragenics expects to finance $24.5 million of the purchase price with borrowings under its existing $40 million credit facility, and the remainder will come from the company's current cash and investments. These borrowings will bring Theragenics' total outstanding borrowings under its current credit facility to $32 million. Theragenics expects the acquisition to be dilutive to earnings per share in 2008 and accretive in 2009, he said. Theragenics operates two business segments: its surgical products business and its brachytherapy seed business. Its surgical products business makes wound closure and vascular access products. The brachytherapy business makes its premier product, the palladium-103 TheraSeed device and I-Seed, an iodine-125 based device, which are used primarily in the minimally invasive treatment of localized prostate cancer.




MDD Home   |   About MDD   |   Contact Us   |   Copyright Notices   |   Terms of Use   |   Privacy Statement   |   Free Alerts

Part of Thomson Reuters
thomsonreuters.com | lifesciences.thomsonreuters.com | BioWorld.com | medicaldevicedaily.com