Originally Published MX May/June 2005
BUSINESS NEWS
Deals in ProgressThe Federal Trade Commission has delivered a second request for information about the 'extreme makeover' merger between Medicis Pharmaceutical Corp. (Scottsdale, AZ) and Inamed Corp. (Santa Barbara, CA). The companies expect the $2.8 billion deal to close by the end of 2005.
Venture capital and merchant banking firm Viscogliosi Bros. LLC (New York City) has announced the official launch of Spine Motion LLC, the firm's fifth company specializing in spinal nonfusion technologies. The company's initial two technologies are coflex, a posterior nonfusion interspinous dynamically functional implant used to treat low back pain and lumbar spinal stenosis, and Orthobiom, a technology to treat adolescent idiopathic scoliosis.
Siemens Medical Solutions (Erlangen, Germany), a division of Siemens AG (Munich), has announced its intention to purchase positron emission tomography manufacturer CTI Molecular Imaging Inc. (Knoxville, TN) in a 'friendly acquisition' for approximately $1 billion.
St. Jude Medical Inc. (St. Paul, MN) has completed its acquisition of Velocimed LLC (Maple Grove, MN), a manufacturer of specialty interventional cardiology devices. The deal is worth $74 million, plus additional milestone payments.
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