Article preview reprinted Medtech Insight - September 2008
Find out about recent medtech strategic alliances, mergers & acquisitions and financings.
Deals Update
Article preview reprinted Medtech Insight - September 2008
Mergers & Acquisitions
Adenosine Therapeutics LLC & PGx Health (a division of Clinical Data Inc.)
Clinical Data (developing biomarkers and drugs) and its pharmacogenetic testing division PGx Health have purchased all of the assets of privately held Adenosine Therapeutics for $11mm in cash, $25.2mm in promissory notes (a $22mm five-year note, and a $3.2mm 32-month note), and up to $30mm in development- and sales-based earn-outs. PGx Health's intention is to develop targeted therapeutics and companion biomarker tests that encompass its own offerings and the new projects it is taking in from Adenosine.
ConvaTec & Unomedical
Just months after it was bought by investment groups Nordic Capital and Avista Capital, ConvaTec (wound and ostomy care products; formerly a division of Bristol-Myers Squibb Co.) has acquired single-use medical device company Unomedical, a Copenhagen-based firm also owned by Nordic Capital. Unomedical brings hospital care products, including catheters and collection bags in urology, operating room supplies, intensive care devices (airway management and oxygen therapy), and electrodes as well as infusion sets and accessories.
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Companies mentioned in this article:
Bristol-Myers Squibb Co.
Clinical Data Inc.
PGx Health
ConvaTec
DNA Repair Co.
Dow Chemical Co.
Elitech Group
Elron Electronic Industries Ltd.
Johns Hopkins University
Johns Hopkins University School of Medicine
Johnson & Johnson
Johnson & Johnson Development Corp.
Mount Sinai Hospital of Toronto
Musculoskeletal Transplant Foundation
OncoMethylome Sciences SA
Orthofix International NV
Signature Diagnostics AG
ThyroTec LLC
University of Helsinki
Helsinki University Central Hospital
Unomedical
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