General Electric Co.’s (NYSE:GE) healthcare unit closed its takeover of Clarient Inc. through a short-form merger in a $5-per-share cash deal worth about $587 million. GE’s buyout of the cancer diagnostic company is part of its strategy to grow is disease-diagnosis business, according to the company.
"Adding Clarient’s leading technology to our portfolio will accelerate our expansion into cancer diagnostics and therapy selection tools, while strongly enhancing our current diagnostic and life sciences offerings," GE Healthcare CEO John Dineen said in prepared remarks. GE Healthcare initially proposed the acquisition of Clarient in October, and the deal survived the lawsuit from group of investors who accused Clarient of agreeing to terms that prevented it from shopping around for a better deal.
Here’s a roundup of companies announcing mergers and acquisistions:
- Stryker completes acquisition of the neurovascular division of Boston Scientific
Stryker Corp. (NYSE:SYK) announced today the closing of its previously announced acquisition of the neurovascular division of Boston Scientific Corp. (NYSE:BSX), a dominant participant in the approximately $900 million worldwide neurovascular market, which includes products used for the minimally invasive treatment of hemorrhagic and ischemic stroke. “We look forward to the ongoing introduction on next generation neurovascular devices that will improve outcomes for patients and help drive accelerating sales growth,” Stryker CEO Stephen MacMillan said in prepared remarks. The deal allowed Boston Scientific to prepay on December 31, 2010 of all $600 million of its 6.00 percent senior notes due June 15, 2011, using cash on hand, according to a filing with the Securities & Exchange Commission.
- iCAD Completes Acquisition of Xoft Inc.
iCAD (NSDQ:ICAD), a provider of advanced image analysis and workflow solutions for the identification of cancer, completed the previously announced acquisition of Xoft Inc., developer of the Axxent® eBx™ electronic brachytherapy system. The portable Axxent System, which delivers electronically-controlled radiation therapy directly to cancer sites with minimal radiation exposure to surrounding healthy tissue, is FDA-cleared for the treatment of early stage breast cancer, endometrial cancer and skin cancer, and for the treatment of other cancers or conditions where radiation therapy is indicated.
- Pathfinder LLC and SyntheMed Inc. announce merger agreement
Pathfinder LLC, a private biotechnology company focused on the treatment of diseases characterized by organ-specific cell damage and SyntheMed, Inc. (OTC:SYMD), a biomaterials company, announced that they have entered into a definitive merger agreement. Upon closing, SyntheMed will be renamed “Pathfinder Cell Therapy Inc.” and the combined company will operate under the leadership of the Pathfinder management team. The Company will be headquartered in Cambridge, Mass.
- MiMedx announces agreement to acquire Surgical Biologics
MiMedx Group, Inc. (OTC:MDXG), an integrated developer, manufacturer and marketer of patent protected biomaterial-based products, announced that it has signed a definitive agreement to acquire Surgical Biologics, a developer of tissue processing techniques for creating implants for a variety of surgical indications from amnion membranes.
- Sigma-Aldrich acquires cerilliant Corp. to strengthen its analytical chemistry portfolio
Sigma-Aldrich® Corp. (NSDQ:SIAL) announced it has acquired all outstanding shares of Cerilliant Corp. of Round Rock, Texas to strengthen the company’s analytical chemistry product portfolio and to continue to deliver on its strategic growth plans. Cerilliant, a supplier of reference standards and materials, provides products that support the clinical diagnostics, environmental, nutraceutical, pharmaceutical, forensic and clinical toxicology markets. Terms of the purchase were not disclosed.
- Transgenomic announces closing of the acquisition of Clinical Data’s diagnostic business and the closing of a $6 million financing
Transgenomic Inc. (OTC:TBIO) announced today that it has closed the acquisition of Clinical Data Inc.’s (NSDQ:CLDA) FAMILION® testing and pharmacogenomics biomarker development business with a sales price of $15.5 million. In addition, the company has closed on $6 million of financing from Third Security LLC, a life sciences investment firm, to fund the cash portion of Transgenomic’s acquisition of Clinical Data’s diagnostic business.