1. Articles in category: Acquisition

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    1. Covidien Announces Definitive Agreement to Acquire Given Imaging for $860M

      Covidien Announces Definitive Agreement to Acquire Given Imaging for $860M

      Covidien Announces Definitive Agreement to Acquire Given Imaging Advances Covidien strategy to more comprehensively address key specialties and procedures globally Adds Given Imaging’s broad suite of minimally invasive gastrointestinal diagnostic and monitoring solutions Accelerates development of world-class gastrointestinal portfolio focused on serving patient from diagnosis to treatment Accretive to earnings per share beginning in fiscal 2015 Covidien plc (NYSE: COV) and Given Imaging Ltd . (Nasdaq: GIVN) today announced a definitive agreement under which Covidien will acquire all of the outstanding shares of Given Imaging for $30.00 per share in cash, for a total of approximately $860 million, net ...

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    2. Halliburton acquires distributed acoustic sensing systems provider Optiphase

      Halliburton acquires distributed acoustic sensing systems provider Optiphase

      Halliburton has completed acquisition of the assets of Optiphase, a provider of interferometric fiber optic sensing solutions, including distributed acoustic sensing (DAS) interrogation systems. The terms and cost of the acquisition were not disclosed. DAS technology turns a piece of fiber optic cable, similar to what one would use for cable or telephone service, into a fully distributed noise logging system. When applied to an oil and gas well, operators can tune in to any section of the fiber, and listen to what is happening in their well. Applications are varied, and include stimulation and production monitoring, verification of downhole ...

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      Mentions: Optiphase Jeff Bush
    3. Abbott to Enter Laser Cataract Surgery Market through $400M Acquisition of OptiMedica

      Abbott to Enter Laser Cataract Surgery Market through $400M Acquisition of OptiMedica

      Abbott (NYSE: ABT ) today announced it has entered into an agreement to purchase OptiMedica Corporation, a privately held, Silicon Valley-based ophthalmic device company. The acquisition will enable Abbott to expand its vision care business into the femtosecond laser-assisted cataract surgery market. Under the terms of the agreement, Abbott will acquire OptiMedica for $250 million , net of cash, plus additional payments totaling up to $150 million upon completion of certain development, regulatory or sales milestones. Currently, most cataract procedures are performed manually, with the surgeon making incisions into the eye by hand. OptiMedica's Catalys ™ Precision Laser System is designed to ...

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      Mentions: OptiMedica FDA
    4. Terumo Corporation Offers to Invest $640 Million in Olympus Corporation

      Terumo Corporation Offers to Invest $640 Million in Olympus Corporation

      Japan's Terumo Corp. proposes a merger with Olympus Corp., aiming for a buyout to block rival companies' advances. Asian medical device giant Terumo Corp. (TYO:4543) confirmed rumors of a proposed buyout of Olympus (PINK:OCPNY) in the aftermath of a $1.7 billion accounting scandal. Terumo offered a $640 million investment into Olympus, sending OCPYNY shares up 6% to a closing price of $17.44 last night. Terumo confirmed that it had proposed an investment and is looking to form a committee to investigate a joint holding company.

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    5. Buyout: Terumo aims to merge with a post-scandal Olympus Corp

      Buyout: Terumo aims to merge with a post-scandal Olympus Corp

      Japan's Terumo Corp. proposes a merger with Olympus Corp., aiming for a buyout to block rival companies' advances. Asian medical device giant Terumo Corp. (TYO:4543) confirmed rumors of a proposed buyout of Olympus (PINK:OCPNY) in the aftermath of a $1.7 billion accounting scandal. Terumo offered a $640 million investment into Olympus, sending OCPYNY shares up 6% to a closing price of $17.44 last night. Terumo confirmed that it had proposed an investment and is looking to form a committee to investigate a joint holding company. The move tops that of rival buyer Sony Corp. (TYO ...

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    6. IDEX buys Precision Photonics in $20M cash deal

      IDEX buys Precision Photonics in $20M cash deal

      IDEX Corporation, the diversified fluidics firm that became a major player in the photonics sector with the $400 million buy-out of CVI Melles Griot last year, has followed up with the acquisition of Boulder-based Precision Photonics. The $20 million cash purchase is confirmation of the company’s promised policy of consolidating the photonics business, as outlined by IDEX’s Mike Cumbo in an interview with optics.org last month. Cumbo, president of IDEX’s optics and photonics business unit, said that the company’s model was to achieve 50% of its total growth through acquisitions, and highlighted light detection and ...

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    7. Optos Finishes Hunt for OCT Technology – Acquires Instrument Division of OPKO for Potential $38M – The Real Work Starts Now

      Optos Finishes Hunt for OCT Technology – Acquires Instrument Division of OPKO for Potential $38M –  The Real Work Starts Now
      In January 2011 Roy Davis the chief executive of UK ophthalmic company Optos stated he was signaling the next step in his company’s turnaround strategy.  Davis stated he was on the hunt for OCT technology (see reference).   While Davis said, “We wouldn't rule out either buying or licensing the technology but we won't be developing it from scratch", it seemed pretty clear he preferred to acquire the technology.  While there are about 10 ophthalmic OCT companies around the world there are few that would be for sale as companies such as Zeiss, Heidelberg, and Topcon are clearly ...
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    8. OPKO Announces Sale of Ophthalmic Instrumentation Business

      OPKO Announces Sale of Ophthalmic Instrumentation Business
      OPKO Health, Inc. (NYSE: OPK) has agreed to sell its ophthalmic instrumentation business to OPTOS, Inc., a subsidiary of Optos plc, a leading and rapidly growing medical technology company engaged in the design, development, manufacture and marketing of devices to image the retina of the eye. Optos will pay OPKO $17.5 million in cash at closing, plus future royalties. The transaction has been approved by the Board of Directors of both companies and is expected to close in the fourth quarter of 2011, subject to approval of the shareholders of Optos and customary closing conditions. Optos is acquiring OPKO ...
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      Mentions: Phillip Frost Optos
    9. Proposed Acquisition of the OCT and ultrasound business and assets of OPKO Health, Inc.

      Proposed Acquisition of the OCT and ultrasound business and assets of OPKO Health, Inc.
      Optos plc (LSE: OPTS), a leading medical retinal imaging company, announces that it has entered into a conditional agreement with OPKO Health, Inc., OPKO Instrumentation, LLC, Ophthalmic Technologies Inc. and OTI (UK) Limited to acquire the assets and business of the instrumentation division of OPKO. OPKO Instrumentation is engaged in the development, manufacture and sale of optical coherence tomography (“OCT”) diagnostic devices and optical ultrasound scanners, each used by the ophthalmic and optometric professions in the diagnosis and management of eye disease and conditions.
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    10. Optos focused on future targets

      Optos focused on future targets
      The acquisition, Optos’s second in nine months, gives the company access to an additional form of retinal imager. The company will start work on a new device that combines the two companies’ retinal imaging techniques in an effort to move ahead of its rivals. Mr Davis told The Herald buying a business with the optical coherence tomography (OCT) technology provided by Opko was a “dream acquisition”. He added: “This is an important step for us.”
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      Mentions: Optos Roy Davis
    11. Raytheon quiet on Elcan sell-off rumors

      Raytheon quiet on Elcan sell-off rumors
      Raytheon is refusing to comment on speculation that it is planning to sell its Elcan Optical Technologies division, after Reuters reported that the defense contractor had hired bankers to run an auction process. With expectations of a sharp reduction in military spending in the US, and the impact already being felt as the availability of funding through small business and technology transfer programs is squeezed, defense contractors will be looking to focus on their most profitable business areas.
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    12. Lantis Laser Signs Definitive Merger Agreement With TAG Minerals

      Lantis Laser Signs Definitive Merger Agreement With TAG Minerals
      Lantis Laser Press Release - Lantis Laser Inc. (OTCQB:LLSR), announced today it has signed the final definitive Agreement to merge with TAG Minerals Inc.In the view of the management of both companies, Lantis' merger with TAG puts the company in the potential position to execute its business model on all fronts. TAG's management believes that with the price of gold breaking through the $1500 an ounce barrier, the timing is good for TAG to gear up and transition to full-scale mining operations in Zimbabwe. TAG has become Lantis' second wholly-owned subsidiary, with Lantis' first wholly-owned subsidiary, Lantis Laser ...
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    13. Canon announces ophthalmic diagnostics plans following takeover of Optopol

      Canon announces ophthalmic diagnostics plans following takeover of Optopol
      Canon Europe has announced details of its integration with Optopol following the takeover in December 2009. Canon’s aim through the acquisition is to achieve the world’s prime position in the ophthalmic diagnostic equipment market. The combination of the two companies gives a complementary fit in products, technologies and channels. Mr Yoshiyuki Masuko, Senior Director, Medical Systems Division, Canon Europe, said, “Canon welcomes Optopol as a new partner and subsidiary company of the Canon group. The new combination enables Canon to enter the field of Optical Coherence Tomography (OCT), which is expected to undergo significant growth, and we are ...
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    14. St. Jude Medical Completes Acquisition of LightLab Imaging

      St. Jude Medical Completes Acquisition of LightLab Imaging
      ST. PAUL, Minn.--(BUSINESS WIRE)--St. Jude Medical, Inc. (NYSE:STJ), a global medical device company, today completed the previously announced acquisition of LightLab Imaging, Inc. for approximately $90 million in cash. LightLab is the pioneer and leader in the development of Optical Coherence Tomography (OCT), a high resolution diagnostic coronary imaging technology which aids physicians in the treatment of cardiovascular disease. The acquisition of OCT technology accelerates the expansion of St. Jude Medical’s cardiovascular growth platform by providing the company with a comprehensive product offering that will allow the Company to compete in, and potentially expand, the intravascular ...
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    15. Lantis Laser Signs Letter of Intent to Merge With Perio-Imaging Inc.

      Lantis Laser Signs Letter of Intent to Merge With Perio-Imaging Inc.
      Lantis Laser Inc. (OTCBB:LLSR) (http://www.lantislaser.com), announced today that it has signed a Letter of Intent to merge with Perio-Imaging Inc., a private New York based company. The merger would be an all stock transaction and closing, among other conditions, would be subject to raising the required funding to complete the proposed merged company's product development program. The name of the new merged company will be announced upon closing.
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    16. St. Jude Medical to Acquire LightLab Imaging for $90M in Cash

      St. Jude Medical to Acquire LightLab Imaging for $90M in Cash
      St. Jude Medical, Inc. (NYSE:STJ), a global medical device company, and LightLab Imaging, Inc. today announced a definitive agreement under which St. Jude Medical will acquire LightLab, a subsidiary of Goodman Co., Ltd. (JASDAQ: 7535) for approximately $90 million in cash. Acquisition of Optical Coherence Tomography technology provides St. Jude Medical with product platform to compete in and potentially expand $500 million coronary imaging market “We welcome LightLab and its employees to St. Jude Medical.” LightLab is the pioneer and leader in the development of Optical Coherence Tomography (OCT), a high resolution diagnostic coronary imaging technology which aids physicians ...
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    17. CardioSpectra founders win UT System Chancellor's award for entrepreneurship

      CardioSpectra founders win UT System Chancellor's award for entrepreneurship
      University of Texas System Chancellor Francisco Cigarroa honored three professors within the system — including one in San Antonio — with the 2010 Chancellor’s Entrepreneurship and Innovation Award. Dr. Marc Feldman, associate professor of medicine and engineering at the University of Texas Health Science Center at San Antonio, was one of three professors within the UT System to receive the award. He and Tom Milner, the Marion E. Forsman Centennial Professor in Engineering at the University of Texas at Austin, were recognized for their development of a novel approach applied to cardiovascular imaging. They developed a technology to help cardiologists provide ...
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    18. Lumen Biomedical sells core product to Volcano to generate much needed cash

      PLYMOUTH, Minnesota– Lumen Biomedical Inc. has sold one of its two clot removing devices to boost its balance sheet as the company struggles to stay afloat in a tough economy. Volcano Corporation, a San Diego-based medical device manufacturer, purchased Lumen’s Xtract catheter for an undisclosed sum. The company had been Xtract’s exclusive global distributor since May 2009. In an interview, Lumen CEO Steven Healy said the company wanted to move out of manufacturing and focus on product development. “We saw [the Volcano deal] as a way in a tough financial market to raise much needed funds,” Healy said ...
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    19. Volcano Has AAA Week: Accused, Approved and Acquired

      Volcano Has AAA Week: Accused, Approved and Acquired
      Volcano Corporation (Nasdaq: VOLC) has had a pretty interesting week. Last Thursday was the low point: a 13 person jury in Massachusetts Superior Court found Volcano and its subsidiary Axsun liable for a number of contractual breaches against LightLab Imaging, Inc. These all grew out of Volcano's purchase of Axsun, a company that had exclusive contracts with LightLab, Volcano's main competitor in the Optical Coherence Tomography (OCT) field. The court has set March 22 as the start of the damages assessment phase. But today, Volcano made two more positive announcements. The FDA has approved Volcano's latest IVUS ...
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    20. Volcano Corporation Completes Acquisition of Lumen Biomedical's Xtract Thrombus Aspiration Catheter

      Volcano Corporation Completes Acquisition of Lumen Biomedical's Xtract Thrombus Aspiration Catheter
      SAN DIEGO, Feb. 9 /PRNewswire-FirstCall/ -- Volcano Corporation (Nasdaq: VOLC), a leading developer and manufacturer of precision intravascular therapy guidance tools designed to enhance the diagnosis and treatment of coronary and peripheral vascular disease, announced today that it has acquired the Xtract™ Thrombus Aspiration Catheter device line from Lumen Biomedical. Volcano became the exclusive global distributor of the Xtract™ catheter in May 2009. This acquisition reinforces Volcano's dedication to build a strategic portfolio of diagnostic and therapeutic tools to help patients with coronary artery disease at all levels of complexity, including acute myocardial infarction (AMI) or heart attacks.
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    21. Canon set to purchase Polish Optopol after lengthy talks

      Japanese optical instrument producer Canon has agreed to spend a sum of zł.248 million to take over a 90 percent stake in publicly-listed Optopol Technology, a company which produces equipment for the ophthalmology sector. The two enterprises have managed to come to an agreement after almost a year of negotiations. The Bogdani family, the main shareholders in the domestic firm, will receive zł.19 for each share they sell, and they will sell almost 7.7 million shares while the remaining shareholders will sell shares at zł.20 per piece. Although Canon wanted to acquire a 100 percent stake ...
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    22. Canon launches $94 million bid for Polish Optopol

      Canon launches $94 million bid for Polish Optopol
      WARSAW, Dec 22 (Reuters) - Japanese company Canon has offered to buy Optopol, a Polish maker of equipment for eye surgery diagnostics, for 276 million zlotys ($94 million), a brokerage running the transaction said on Tuesday. The bid by the Japanese camera and office equipment maker values Optopol at 20 zlotys per share, although the Bogdani family has agreed to sell its 54 percent stake stake ...
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    23. Canon Bids $85M for Optopol, Polish Eye Diagnostic Device Maker

      Canon Bids $85M for Optopol, Polish Eye Diagnostic Device Maker
      Dec. 22 (Bloomberg) -- Canon Inc. bid 248 million zloty ($85 million) to take over Optopol SA, a Polish maker of diagnostic equipment for eye doctors, as it seeks to take the lead in the sector. Canon offered to pay 19 zloty a share to members of the Bogdani family, and 20 zloty to other holders of the Zawiercie, Poland-based company’s stock, Canon said in a statement on its Web site. Optopol surged 22 percent to 19.62 zloty in Warsaw trading at 10:27 a.m. The benchmark WIG20 Index rose 1.2 percent. Canon is betting the acquisition ...
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    24. Volcano Posts Q3 Loss; Backs FY09 View; Makes $11M milestone payment to Cardiospectra

      Volcano Corporation (VOLC: News ) reported a third-quarter GAAP net loss of $4.0 million or $0.08 per share, compared with a GAAP net income of $744 thousand or $0.01 per share in the year-ago quarter. Non-GAAP net income, which excludes stock-based compensation expense of $2.6 million and commissions of $1.4 million, was $7 thousand or $0.00 per share. This compares with the year-ago non-GAAP net income of $3.3 million or $0.06 per share, excluding stock-based compensation expense of $2.5 million. On average, ten analysts polled by Thomson Reuters expected the company to ...
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