Originally Published MX July/August 2005
MILESTONES
Milestones |
| Anthony G. Viscogliosi |
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| Marc R. Viscogliosi |
Viscogliosi Bros. LLC (New York City), a venture capital/private equity and merchant banking firm focused on the musculoskeletal and orthopedics sector, has acquired Fixano SA (Bourg-en-Bresse, France) for an undisclosed amount. Fixano manufactures products for internal and external fixation, spine, and joint replacement. "In my more than 15 years of experience in the orthopedic marketplace, I believe Fixano has one of the broadest, most innovative, highly indication-specific product portfolios of any private company I have examined," said Anthony G. Viscogliosi, a principal at Viscogliosi Bros. Added Marc R. Viscogliosi, another company principal: "I am thrilled to work with Fixano's remarkably talented management team and their revolutionary product lines, particularly the 'U' nonfusion interspinous device."
Looking to gain a foothold in the earlier-stage kidney disease market, Genzyme Corp. (Cambridge, MA) has signed a definitive merger agreement with Bone Care International Inc. (Middleton, WI) in which it has purchased Bone Care for approximately $600 million, net of Bone Care's $119 million in cash. In announcing the merger, Genzyme noted the complementary offerings of the two companies, in particular the ability to use Bone Care's Hectorol vitamin D2 prohormone products with its Renagel phosphate binder. Sales of Hectorol totaled $59 million for the nine-month period ended March 31. Genzyme said it would seek to register Hectorol outside of the United States, focusing in particular on Europe and Asia. The purchase is expected to close in the third quarter of the year.
SPO Medical Equipment Ltd. (Kfar Saba, Israel) has filed an 8-K with the U.S. Securities and Exchange Commission, finalizing its reverse acquisition by SPO Medical Inc. (Woodland Hills, CA), formerly known as United Diagnostic Inc. The new company will be named SPO Medical Inc. SPO Medical develops biosensor and microprocessor technologies based on reflectance pulse oximetry for monitoring blood oxygen saturation and heart rate. SPO Medical Equipment Ltd. was established in 1997.
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| Nick DiMartino |
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| John Wellbank |
National Medical Development Inc. (NMDI; Bellevue, WA), a developer and operator of outpatient healthcare businesses, has purchased InStar Systems LLC (Colorado Springs, CO), a radiology practice management company. InStar's radiology information system (RIS) automates tasks such as patient scheduling, exam tracking, transcription, and billing. "In addition to expanding the system across more of our centers, there are several synergies between InStar's comprehensive RIS and the billing and collections functions performed by our affiliate company, National Medical Management, which we found attractive," said Nick DiMartino, executive vice president and CFO at NMDI. Concurrent with the acquisition, NMDI has hired John Wellbank to serve as CEO. Wellbank was previously zone vice president for Philips Medical Systems (Andover, MA).
Under the terms of a recently penned technology development agreement, Quest Diagnostics Inc. (Teterboro, NJ) will develop diagnostic tests based on the aptamer array platform of SomaLogic Inc. (Boulder, CO). SomaLogic conducts biomarker research in the oncology, cardiovascular, autoimmune, and infectious-disease areas. As part of the deal, Quest Diagnostics has made a $15 million equity investment in SomaLogic. Additional terms of the agreement were not released.
Luminetx Corp. (Memphis) has secured $4 million in its first round of financing, based largely on the promise of its VeinViewer, a device that uses infrared light to project real-time images of a patient's veins directly onto his skin. The product has received FDA approval and is set to begin clinical trials in August, and commercial production in the first quarter of 2006. According to Luminetx, target markets include hospital and medical clinics, blood and plasma donation centers, labs and testing centers, surgical suites, and home healthcare organizations. "This device will change the standard of healthcare delivery in America," said James M. Phillips, chairman, CEO, and president of Luminetx. "It boosts clinician confidence and patient satisfaction. It improves care quality and efficiency of delivery. The company is planning for a second round of financing later this year."
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