Bayer HealthCare’s (ETR:BAYN) MedRad subsidiary paid an undisclosed amount for Pathway Medical Technologies Inc. and its atherectomy technology.
Kirkland, Wash.-based Pathway makes mechanical devices used to the clear blood vessel blockages in the leg known as peripheral arterial disease. The devices cut away the arterial plaque that constricts blood flow in the leg.
“The combination of MedRad and Pathway Medical Technologies underscores our strategic commitment to the treatment of patients in the growing interventional field,” Bayer HealthCare chairman Dr. Jorg Reinhardt said in prepared remarks. “Pathway’s products complement MedRad Interventional’s current and future portfolio including our injectors, thrombectomy devices and the Cotavance paclitaxel-coated balloon catheter with Paccocath technology and will enable us to extend value to customers and patients through broader product options to diagnose and treat PAD.”
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The all-cash deal excludes the Swedish company’s mammography operations in Australia and New Zealand, “where Sectra will continue to sell and service the unique MicroDose mammography modality under a separate distribution agreement with Philips,” according to a press release.
The business accounted for about 14 percent of Sectra’s sales last year and employs roughly 110 people. The buyout includes a five-year, €12.5 million ($17.9 million) earnout provision, according to the release.
Zynex Inc. (OTC:ZYXI) put up a bid for NeuroDyne Medical Corp., a Cambridge, Mass-based maker of sEMG and autonomic nervous systems monitoring devices for an undisclosed amount.
“This potential acquisition is strategic for us, as we believe it will provide us a rapid entrance into the neurodiagnostic market and will allow us to diversify our current product offerings,” Zynex CEO Thomas Sandgaard said in prepared remarks. “NeuroDyne also has established global sales channels that should help our international sales growth.”
BAETA Corp. probes possible sale
BAETA Corp. (OTC:BAEA) hired Imagine Growth Strategy Inc. to investigate “an array of potentially beneficial financial transactions, including the targeting of potential mergers and acquisitions,” according to a press release.
“We welcome the opportunity to work with the Imagine Growth Strategy as we seek to introduce exciting and revolutionary new approaches for healthcare management to the marketplace,” CEO Len Pushkantser said in the release. “We are pleased to have a partner that recognizes the value of fact-based data that helps lead to faster diagnoses, improved treatment via remote monitoring, and improved patient health.”
French biotech firm Cerma is spinning out a new business, aiming to expand market share for its steam vein sclerosis treatment for varicose veins.
Cermavein’s SVS treatment is already on the market in France, Germany, Spain, The Netherlands, Scandinavia, Israel, Romania and the Baltic States and won a nod from Health Canada recently, according to a press release. The spinout also has a first round of fundraising under its belt and is readying a second round to back “the roll-out and expansion of its business,” according to the release.
The SVS treatment uses endovenous thermal ablation to treat varicose veins in a single procedure.
“The SVS technology has been proven to be simple to use in clinical practice, because our technology is flexible and our catheter can be easily introduced into all veins, making the procedure easy for physicians to carry out,” Cermavein CEO Dr. Sophie Humbert said in prepared remarks. “We have a great opportunity to fill a genuine unmet medical need in many markets and thanks to our technology’s features, the size of our potential market is significantly increased. For example, in the United States 75 percent of patients need multiple treatments that now could be done in one single session using SVS.”
CAE Healthcare picks up METI for $130 million
CAE Healthcare paid $130 million for Medical Education Technologies Inc. in a move to expand its footprint in the medical simulation market.
“The acquisition of METI is an important step in the advancement of our healthcare strategy because it expands CAE Healthcare’s product portfolio and gives it much greater market access,” CAE president & CEO Chief Executive Marc Parent said in prepared remarks. “With this acquisition, our New Core Markets segment, comprised of CAE Healthcare and CAE Mining, achieves greater critical mass. We expect this segment to achieve more than C$120 million of revenue and to be profitable in fiscal 2013. METI is a premier organization with a global customer footprint and distribution channels, an extensive portfolio of products and services, a solid management team and a proven track-record of profitability and customer service. We welcome Michael Bernstein, CEO of METI, who becomes President of CAE Healthcare, we welcome the METI team and look forward to providing our new and existing customers with the most innovative, best-in-class training solutions and continuous service support.”