The Medical Device Business Journal — Medical Device News & Articles | MassDevice
Medtronic Inc. (NYSE:MDT) closed its $370 million acquisition of ATS Medical Inc. (NSDQ:ATSI).
The deal called for Fridley, Minn.-based medical device monolith to pay $4 per share for its Twin Cities peer, as well as assuming its debt. ATS Medical owed Medtronic $30 million as of July 3, according to a regulatory filing, and had total liabilities of about $10.8 million.
iMedX bought out Louisiana-based healthcare transcription firm MedTech Transcriptions Inc. for an undisclosed amount.
The acquisition allows the Shelton, Conn.-based healthcare software and services company to expand its customer base in the Pelican State.
UnitedHealth Group’s (NYSE:UNH) health information technology subsidiary Ingenix will acquire compliance consulting company Executive Health Resources.
Ingenix didn’t disclose the price for the Newton Square, Pa.-based company, but a Bloomberg report last week put the figure at about $1.5 billion.
Phase Forward Inc. (NSDQ:PFWD) is another step closer to merging with software giant Oracle Corp. (NSDQ:ORCL).
The U.S. Dept. of Justice gave the companies clearance to proceed with their $685 million deal, announced in April.
Royal Philips Electronics (NYSE:PHG), already one of the world’s largest medical imaging equipment makers, expanded its footprint in the picture archiving and communication systems space by paying an undisclosed amount for Israel’s CDP Medical Ltd.
CDP, a subsidiary of Medtechnica Ltd. (TASE:MEDI), makes PACS technology that Philips plans to use to augment its own iSite PACS offering, according to Philips Healthcare CEO Steve Rusckowski.
"This is an important step on our journey to complete our range of clinical informatics and patient care solutions," Rusckowski said in prepared remarks.
The shareholders of cardiovascular technology firm ATS Medical Inc. (NSDQ:ATSI) voted in favor of the company’s $370 million sale to neighboring device giant Medtronic Inc. (NYSE:MDT).
About 79 percent of the company’s outstanding shares were voted, with about 95 percent of those in approval of the $4-per-share deal, according to Plymouth, Minn.-based ATS.
The deal was first announced in April. The acquisition figures to strengthen Medtronic’s position in the replacement heart valve and atrial fibrillation markets.
PerkinElmer Inc. (NYSE:PKI) has acquired VisEn Medical Inc., an in vivo molecular imaging technology company based in Bedford, Mass of an undisclosed amount of money.
The Waltham Mass.-based diagnostics maker said it bought VisEn to offer more preclinical research tools to academic institutions and pharmaceutical companies.
New York City private equity firms Clayton, Dubilier & Rice and Goldman Sachs’ GS Capital Partners agreed to buy the parent of Edgepark Medical Supplies and Independence Medical in Twinsburg, Ohio, for a reported $850 million.
The New York firms are buying HGI Holdings Inc. in Twinsburg from The Jordan Co. and members of the founding Harrington family. In 2007, Jordan Co. bought a reported majority stake in HGI Holdings, then known as Harrington Holdings Inc., for an undisclosed price.
Covidien plc (NYSE:COV) closed its $25-per-share buyout of Somanetics Corp. (NSDQ:SMTS), saying it can now own about 80 percent of the Troy, Mich.-based pulse oximetry maker.
The Mansfield, Mass.-based medical products conglomerate agreed to pay $250 million for Somanetics in June as part of its ongoing strategy to bolster businesses it thinks are poised to grow and jettison others that aren’t deemed a good fit.
Another proxy advisory firm is backing the proposed, $1.6 billion merger between WuXi PharmaTech (Cayman) Inc. (NYSE:WX) and Charles River Laboratories International Inc. (NYSE:CRL), which has drawn opposition from some of CRL’s top investors.
RiskMetrics Group’s ISS Proxy Advisory Services recommended that WuXi shareholders vote for the acquisition of WuXi.
Alcon Inc. (NYSE:ACL) posted double-digit sales and earnings increases during the second quarter, as revenues rose 12.5 percent and profits rose 15.1 percent.
The Huenenberg, Switzerland-based ophthalmic devices giant reported net earnings of $670 million, or $2.21 per diluted share, on sales of $1.89 billion for the three months ended June 30. That compares with net earnings of $582 million, or $1.94 per diluted share, on sales of $1.68 billion during the same period last year.
