Covidien Announces Definitive Agreement to Acquire Somanetics Corporation

  • Expands monitoring platform with market-leading technology
  • Complements existing sales infrastructure; geographic expansion opportunities
  • Strong portfolio of clinical research

Covidien plc (NYSE: COV) and Somanetics Corporation (NASDAQ: SMTS ) today announced that they have signed a definitive merger agreement under which Covidien will acquire all of the outstanding shares of Somanetics Corporation for $25.00 per share in cash, for a total of $250 million, net of cash acquired. This acquisition is consistent with the Covidien strategy to expand into adjacencies and invest in product categories where it can develop a global competitive advantage.

Published: 16 June 2010
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Read more: Somanetics Corporation ( SMTS )

AtriCures AtriClip System Receives FDA 510(k) Clearance

AtriCure, Inc. (Nasdaq: ATRC), a medical device company and a leader in cardiac surgical ablation systems, today announced that it received clearance from the FDA for its AtriClip Gillinov-Cosgrove Left Atrial Appendage Exclusion system. The AtriClip system is designed to safely and effectively exclude the left atrial appendage. Initial launch in the United States is anticipated to begin later this month with full commercial release planned during the third quarter of 2010.

“Clearance of the AtriClip system in the United States represents a major product and clinical milestone for AtriCure,” said David J. Drachman, President and Chief Executive Officer. “We believe that the AtriClip system provides a safe and efficient method to exclude the left atrial appendage. This key innovation represents a large and exciting new growth platform and demonstrates our steadfast commitment to developing market leading technologies to meet the needs of patients and physicians.”

Published: 15 June 2010
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Grifols to Acquire Talecris Biotherapeutics Creating a World Leading Provider of Life-Saving Plasma Protein Therapies

- The combination of Grifols and Talecris will create a diversified, global provider of life-saving and life enhancing plasma protein therapeutics built on the strong global presence of Grifols and the established position of Talecris in United States and Canada.
- The merger accelerates key strategic initiatives for both Talecris and Grifols as it creates a more efficient platform for manufacturing, innovation and global sales and marketing.- Combining the expertise of both companies will build upon their individual legacies of patient commitment, growth and innovation while increasing the availability of high quality plasma protein therapies for patients worldwide.

Grifols (GRF.MC) a global healthcare company and leading producer of plasma protein therapies, and Talecris (Nasdaq:TLCR ) a U.S.-based biotherapeutics products company, today announced that they have signed a definitive agreement through which Grifols will acquire Talecris for a combination of cash and newly-issued Grifols non-voting shares having an aggregate value today of approximately $3.4 billion (euro 2.8 billion), creating a global leader of life-saving and life enhancing plasma protein therapeutics.

Published: 07 June 2010
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U.S. Army to Showcase Zargis' Technology at Telemedicine Conference

Zargis Medical Corp., a majority-owned subsidiary of Speedus Corp. (Nasdaq: SPDE), today announced that it has been selected by the U.S. Army's Telemedicine & Advanced Technology Research Center (TATRC) to present the Company's latest technologies at the TATRC exhibit during this year's American Telemedicine Association Conference (ATA), which takes place May 16-18 at the Henry B. Gonzalez Convention Center in San Antonio, TX.

"We are honored to have been selected by TATRC to present our industry leading medical devices at this premier conference," stated Zargis CEO, John Kallassy. "This presentation represents the first major marketing event for Zargis' new, award winning tele-auscultation platforms."

Published: 13 May 2010
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Percutaneous Tibial Nerve Stimulation Using the Urgent(R) PC Neuromodulation System to be Assigned a Category 1 CPT Code

Uroplasty, Inc. (NYSE Amex: UPI), a medical device company that develops, manufactures and markets innovative proprietary products to treat voiding dysfunctions, announced today that it has been informed that percutaneous tibial nerve stimulation (PTNS), the procedure performed using the Uroplasty Urgent PC Neuromodulation System, will receive a category 1 CPT reimbursement code. This is expected to occur when those codes are published by the Centers for Medicare and Medicaid Services, which is expected in October 2010.

Reimbursement rates for the procedure have not yet been established, the new CPT code number has not been assigned, and reimbursement requests using the new CPT code may not be submitted prior to January 2011.

Published: 06 May 2010
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Read more: Uroplasty Inc ( UPI )
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