June 2004
HIMSS takes stance on President Bushs EMR plan; radiologists tapped for charity
cookbook; calendar of events; Planar incites trade-in program for end-users; and more.
| Planar encourages hospitals to participate in
trade-in program |
Last March, Planar Systems Inc (Beaverton, Ore)
approached the medical imaging industry with an innovative ideato make high-quality
imaging equipment more affordable for facilities. The company reduced the list price of
its Dome line of displays by nearly half, a concept that helped streamline the digital
revolution.Today, Planar is continuing in its approach to raise awareness
of the affordability and necessity of integrating digital equipment into the healthcare
industry. The company is helping healthcare facilities to easily upgrade from CRT
diagnostic imaging monitors to Planars Dome CX line of LCD monitors with the
Fat to Flat trade-in program. Running April 19 to July 16, the program allows
hospitals to trade in their current 2-megapixel or higher grayscale analog display
controllers, regardless of make and model; they will receive special incentive pricing on
the purchase of dual sets of Dome C3 3-megapixel and Dome C5i 5-megapixel grayscale
flat-panel displays.
According to our medical displays market opportunity study projection, by 2006,
the worldwide market for high-resolution grayscale CRT medical displays will be virtually
nonexistent, said Rhoda Alexander, director of monitor research at iSuppli/Stanford
Resources (Santa Clara, Calif). With current and future medical display development
focused almost exclusively on flat-panel alternatives, LCD monitors are the smart choice
for healthcare organizations currently considering investments in diagnostic imaging
systems.
Over the past several years, the healthcare market for flat-panel LCDs has grown
steadily, as end-users realize the benefits of using LCDs over traditional CRT displays
for medical imaging applications. CRT monitors degrade over time and require constant
inspection and adjustments to maintain optimum display quality, costing healthcare
organizations time and money. In contrast, Planars Dome CX line of LCD monitors can
be calibrated automatically to stay in conformance with DICOM standards and be managed
remotely by IT and QA departments, reducing the total cost of ownership of the displays.
Planars Fat to Flat program is a unique promotion that will
allow us to offer our customers the most compelling reason to upgrade from CRT
monitors, said Gerry McGinley, medical business unit manager for Richardson
Electronics Display Systems Group (LaFox, Ill), a reseller of Planar products.
The price of high-resolution LCD flat-panel displays historically has been a barrier
to entry for many healthcare organizations. This program offers hospitals the incentive
they need to acquire the high-quality display technology.
The program is open only to end-users, who can register online at www.cxdisplays.com to
qualify their existing display controllers and receive purchasing information with
participating resellers. Resellers, OEMs, and service organizations are not eligible to
participate in this program for stocking purposes. For more information, call
866-475-2627. |
| Study: Will early lung cancer detection lead to
tobacco cessation? |
In 1993, the Weill Medical College of Cornell
University (Ithaca, NY) began a program of using CT scans to obtain detailed images of
smokers lungs. The program was conducted in an effort to determine whether CT
screening for lung cancer saves lives. The discussions about their CT images had such an
impact on study volunteers that the organization has been provoked to further develop the
program to gauge its effectiveness in tobacco cessation.In the initial study
conducted in 1993, we found that after seeing the images of their lungs, the volunteers
would state that every time they lit a cigarette, the images would come to mind, and they
would essentially not smoke, says Claudia Henschke, MD, the studys principal
investigator. Of those who volunteered for the program, 25% quit smoking after
having seen the images of their own lungs.
The American Legacy Foundation (ALF of Washington) and the Medicsight Foundation
(London) have donated $1.8 million each to the Weill Medical College for the continuation
of the lung-cancer detection program. The donations will support a 4,000-patient study,
the goal of which is to demonstrate that CT screening for lung cancer can be effectively
linked to smoking-cessation programs to enhance the motivation for people to stop smoking.
The study, which begins this month, will use advanced image analysis software.
We want to make screening programs an economic and life-saving reality,
Henschke said. The International Early Lung Cancer Action Program [I-ELCAP of New
York] is proving that CT screening is an effective tool for early diagnosis of lung
cancer. This newly funded study represents a unique opportunity to understand how to best
increase smoking cessation in the context of CT screening. At the same time, we will be
incorporating and developing advanced image processing software to make screening as
effective as possible.
Cheryl G. Healton, DrPH, president and CEO of the ALF, added, The foundation
knows that science eventually will find far better ways to detect and treat lung cancer.
The pressing question in the minds of many is whether or not CT screenings for lung cancer
will encourage smokers to quit or make them put off this decision even longer. With lung
cancer being the leading cause of cancer death in this nation, the foundation is
especially interested in answering this vexing question. |
| Healthcare industry recognized at 2004 Stevie
Awards |
| There might not have been a red carpet preshow, but the 2004 American
Business Awards had the celebrity feel of the film industrys Academy Awards
extravaganza. InSight Health Services Michelle Underwood
(left) accepts the Stevie Award for Best Plant, Facility, or Satellite Office Manager from
CNNfn anchor and emcee Ali Velshi.
Nicknamed for the Greek word crowned, the Stevies are the only national,
all-encompassing business award program that honors great performances in the workplace in
the United States. The 2004 ceremony was held May 10 in New York. Recipients were awarded
during a nationally broadcast dinner that benefited the Leadership Education and
Development Organization (LEAD of Philadelphia), a national partnership of business and
academia that encourages high school students to pursue careers in business.
More than 800 nominations from companies of all sizes and in virtually every industry
were submitted for consideration. In the end, a total of 101 Stevies (designed by RS Owens
of Chicago, which is the same company that produces the Oscar and Emmy award statuettes)
were presented in more than 80 categories.
At this years awards, the healthcare industry did not go home empty handed.
InSight Health Services Corp (Lake Forest, Calif) took home two awards. First, Michelle
Underwood, the operations/branch manager for St Johns Imaging Center (Oxnard,
Calif), won for Best Plant, Facility, or Satellite Office Manager. Second, the company was
awarded for its We Have Survived piece in the Corporate Film or Video:
Motivational category. Also, Qmedtrix (Portland, Ore) won the award for Best Product
Development Team, specifically for the companys Systems Development and Quality
Assurance Team.
Congratulations to all healthcare industry nominees and winners! |
| Study: Carotid stenting safer than surgery in
high-risk diabetic patients |
| A recent SAPPHIRE (systolic and pulse pressure hemodynamic improvement by
restoring elasticity) trial conducted by the Society of Interventional Radiology (SIR of
Phoenix) revealed that high-risk diabetic patients who underwent carotid stenting had far
fewer heart attacks and significantly less major adverse events overall at 1-year
follow-up than those who underwent carotid endarterectomy surgery to prevent stroke. The
study involved a total of 334 high-risk patients who were randomized and treated by either
stenting with embolic protection or surgery in the overall multicenter SAPPHIRE trial; the
high-risk diabetic subset was composed of 86 patients.
All of the SAPPHIRE trial patients were high risk, and the earlier data on the
total study population showed the stenting to be safer than surgery, said Mark
Wholey, MD, interventional radiologist and SAPPHIRE trial principal investigator.
This diabetic subset was at an even higher risk, and these new data not only
substantiate and confirm the earlier findings, but also show the dramatic results that
stenting is safer than surgery in those at high risk.
The stenting group had a 2.4% incidence of heart attacks compared with an 18.2%
incidence in the surgical group. Incidence of major bleeding was 4.8% for the stenting
group, versus 20.5% for the surgery group. The products used in the study were the Precise
stent with the Angioguard filter, sponsored by Cordis Endovascular (Warren, NJ), a
division of Cordis Corp, a Johnson & Johnson company.
The study also collected the 30-day event rate for any type of stroke, heart attack, or
death. The 30-day event rate for stroke, heart attack, and death was 4.8% for stenting and
22.7% for carotid surgery.
In addition to the lesser risk of major adverse events, many other benefits exist from
the balloon angioplasty and stenting treatment, which is an interventional radiology
procedure. Because there is no incision, no damage to the cranial nerves can occur with
surgery. This nerve damage, which can cause difficulty speaking and swallowing, occurred
in 4.8% of the overall SAPPHIRE trial surgical patients and has been reported as high as
9% in other surgical studies. In addition, the patient can go home the next day, does not
need general anesthesia, and has no infection rate; also, the interventional procedure
takes only 20 to 30 minutes.
These findings are quite significant because diabetics are at greater risk for
all vascular events. This study shows that stenting is far safer than surgery, even in
this highest risk population. It clearly establishes that all high-risk diabetics should
have stenting, not surgery, Wholey said.
These results are data of the high-risk diabetic arm of the Sapphire triala
prospective, multicenter, randomized, controlled trial at 29 US research centers comparing
the safety and efficacy of carotid stenting, embolic protection, and standard carotid
surgery to treat blocked carotid arteries to prevent stroke. |
| Ch- Ch- Ch- Changes in the industry |
The Internet-based document exchange software
developer, eClickMD (Austin, Tex) has officially changed its corporate name to SecureCare
Technologies Inc. The decision to change the corporate name was made in an effort to more
closely align the companys corporate identity with its software applications. The
company offers SecureMD, a software program used by home healthcare providers and
physicians. Its email-like functionality enables users to obtain the level of
productivity, risk management, and cost savings needed to stay viable in the healthcare
industry.K Fehling & Associates Inc (Ponte Vedra Beach, Fla) has recently entered
the healthcare industry as an executive search firm focused on the recruitment of senior
level executives in the healthcare and life sciences industries. President Kathleen
Fehling has more than 22 years of experience in the medical device industry. Her industry
experience allows for a specific network of executives and potential candidates, while
giving insight to the specialized medical device, biopharmaceutical, and healthcare
service industries. For more information, visit www.KFAsearch.com.
Kathleen Fehling
A trio from Quick Study Radiology (St Louis) has purchased the medical billing and
practice management division of the company and has formed a new enterprise. Now called
Evolutions, the company is owned by Tom Long, president and CEO; Gail Fowler, VP of
operations; and Marie Palladino, VP of information. The company provides medical billing
solutions to its client base of radiologists, radiation oncologists, imaging centers, and
other medical specialties. Evolutions programs are HIPAA-compliant and reviewed by
certified coders. The new company uses electronic claims submission and offers an accounts
receivable management program. Regional offices are located in Cape Girardeau, Mo, and
Evansville, Ind.
Rockwell Scientific Co LLC (RSC of Thousand Oaks, Calif) has formed a new commercial
enterprise in collaboration with ITX International Holdings Inc (Mountain View, Calif).
The new companyAltasens Inc, based in Thousand Oaks, Califis the next
generation of Rockwell Scientifics CMOS Image Sensors Business Group. ITX
complements RSCs technological capabilities by providing additional capital infusion
and operational infrastructure to the venture. RSC will remain a substantial stakeholder
in the new company and hold two seats on the Board of Directors. Altasens specializes in
the development, marketing, and sale of the ProCamHD family of high-performance image
sensors. For more information, visit www.altasens.com. |
| Kimmel Foundation awards 15 cancer research grants |
| After more than 7 hours, the 13-member medical advisory board of the
Sidney Kimmel Foundation for Cancer Research (Baltimore) emerged from its annual
conference with the names of 15 new Kimmel scholars, bringing the total number selected
since 1997 to 100. The Kimmel Scholar Awards are designed to further the careers of young
individuals pursuing careers in cancer research. Each Kimmel scholar will receive a
$200,000 grant over the course of 2 years. It gives me great joy to listen to
these accomplished doctors discuss the merits of each research project until they narrow
it down to those who are likely to make the most innovative contributions to cancer
research, said Sidney Kimmel, the organizations founder and chairman of Jones
Apparel Group (Bristol, Pa). Kimmel has contributed more than $350 million to cancer
centers and cancer research since 1997.
In choosing the newest scholars, the medical advisory boardmade up of some of the
top cancer physicians in their fieldsasked such questions as: Is the science sound?
How many others are working in this area of research? What scientific journals have
published their work? This task requires more than 40 hours of review time from each board
member before the annual selection meeting.
These are Sidneys grant-children, said Web Cavenee, MD,
medical advisory board member and director of the Ludwig Institute for Cancer Research at
the University of California, San Diego. It is an extraordinary thing hes
doing, contributing to science and society in this way. He has jump-started the careers of
young scientists across the country, many of whom have gone on to receive millions of
dollars in funding from [other sources] and make significant contributions to the field of
cancer research. Many past recipients report that they might never have achieved such
success without Sidneys grant at the most critical time in their career.
The following are this years Kimmel Grant winners, their respective facilities,
and research topics:
Ivan Borrello, MD, Sidney Kimmel Cancer Institute, Johns Hopkins University:
Strategies to enhance tumor-specific immunotherapy in multiple myeloma
Scott Briggs, PhD, Purdue University: Functional characterization of the
multiple myeloma SET domain protein (MMSET)
George Calin, MD, PhD, Kimmel Cancer Center, Thomas Jefferson University:
The role of micro RNAs in human cancer development
Diego Castrillon, MD, PhD, University of Texas, Southwestern Medical Center of
Dallas: Genetic model systems and translational studies of endometrial cancer
James Chen, PhD, Stanford University School of Medicine: Chemical and
genetic studies of the hedgehog pathway
David Ferguson, MD, PhD, University of Michigan, Ann Arbor: Genomic
instability in cancer: Mechanisms of gene amplification and roles of Mre11
Daniel Kamei, PhD, University of California, Los Angeles: Increasing the
half-lives of angiogenesis inhibitors using systems-level analyses
Clara Kielkopf, PhD, Johns Hopkins University: Structural basis of normal
pre-mRNA splice site recognition and its dysfunction in neoplasia
Harmet Malik, PhD, Fred Hutchinson Cancer Research Center: Is genetic
conflict responsible for centromere complexity?
Jeffrey Rathmell, PhD, Duke University Medical Center: Cell survival and
glucose uptake in cancer and autoimmunity
Jeremy Rich, MD, Duke University Medical Center: Transforming growth
factor beta signaling and targeting in malignant gliomas
Brian Schaefer, PhD, Uniformed Services University of the Health Sciences:
Role of NF-kB signaling intermediates in the etiology of MALT lymphoma
Sheila Stewart, PhD, Washington University: Molecular mechanisms of
cellular immortality
Kwok-Kin Wong, MD, PhD, Dana Farber Cancer Institute: The genetic role of
telomere dynamics and DNA damage response in cancer and aging
Yihua Yu, PhD, University of Utah: An integrated docking/imaging device
for cancer radioimmunotherapy
For more information about this years scholars or the Sidney Kimmel Foundation
for Cancer Research, visit www.kimmel.org. |
| Calling all radiologistser, chefs! |
| The American Healthcare Radiology Administrators (AHRA of Sudbury, Mass)
is sending a call out to all radiology professionals for culinary contributions to its
upcoming cookbook. All proceeds from the sale of the cookbook will be used to support the
AHRA Education Foundation. The expected publication date is August 2004. All submissions
of original recipes must include a signed AHRA authorship criteria and responsibility form
as well as a brief biography of the author and a photo. Submissions are due June 15. Send
recipes and additional information to: Linda Puchalski, CRA
Imaging Department,
Hudson Valley Hospital Center
1980 Crompond Rd
Cortlandt Manor, NY 10567
For more information, visit www.ahraonline.org.
|
| Site Sightings |
| Business is booming, especially on the Internet. Take a look at these
healthcare businesses that have updated their Web sites for greater business offerings. www.carstenscustom.com
Carstens Inc (Chicago; www.carstenscustom.com) has expanded its Web site to enable
purchasing department managers, administrators, and other professionals working within the
healthcare environment to quickly create, preview, and submit custom identification and
alert labels and cards. The sites product builder program assists users with
choosing label or card size, ink, and background colors. It also helps in the positioning
of custom text or uploading artwork that are best suited for the project.
www.medrecinst.com
The Medical Records Institute (MRI of Boston) has revamped its site
(www.medrecinst.com) to include enhanced content and exhibitor capabilities, interactive
features, and navigational tools. Also featured on the new site is an online discussion
forum for private groups and private messaging functions within the MRI community and the
healthcare industry.
www.scarnet.org
Next, what was previously an exclusive resource is now available for public use. The
Society for Computer Applications in Radiology (SCAR of Great Falls, Va; www.scarnet.org)
has released its online resourcethe SCAR Expert Hotlinefor public use within
the medical industry. The question-and-answer resource, previously available only to SCAR
members, will now be archived and updated online for access by members and nonmembers
alike. The free site provides information for professionals who use or are interested in
PACS technology and clinical implementation of information systems in imaging. SCAR
members can post questions to the site free of charge, while nonmembers are able to post
for a fee of $125, which includes a 1-year membership in SCAR.
www.spellmanhv.com
Finally, Spellman High Voltage Electronics Corp (Hauppauge, NY) has renovated its
company Web site (www.spellmanhv.com) to feature improved navigational and parametric
searching capabilities. According to the company, the new site is a significant
improvement in terms of functionality, navigability, and user friendliness. Offering users
a parametric search capability that incorporates a wish list feature, this
search function allows for identification of products by specification (kV and W) and
provides a shopping cart approach to selecting and requesting quotation on a variety of
high-voltage products. The site also includes information on technical articles,
application notes, high-voltage glossaries, and many application-specific features. |
| Osteoporosis pipelines market value forecast
to reach $10.4 billion by 2011 |
A new report released from the independent market
analyst Datamonitor (New York) reveals how key research and development trends in the
osteoporosis market are focusing on novel dosing regimens and expanding indications.
The report forecasts strong growth driven by new market entrants. The late-stage
osteoporosis pipeline will soon provide a boost to the number of available treatments,
with a flurry of launch activity expected between now and 2008. Market sales are forecast
to reach $10.4 billion by 2011up from approximately $5 billion in 2003 (excluding
HRT sales). Datamonitors report also analyzes the products and trends driving
growth. |
| HIMSS takes stance on President Bushs
electronic health records plan |
| In late April, President Bush announced to the American Association of
Community Colleges (Washington) at its annual meeting in Minneapolis his plan to address
long-standing problems of preventable errors, uneven quality, and rising costs in the US
healthcare system. In reaction to Bushs proposal, the Healthcare Information and
Management Systems Society (HIMSS of Chicago) has released a formal statement supporting
the Presidents goals to ensure that all Americans have access to electronic health
records (EHRs) within the next 10 years. Bush itemized his proposal
into a three-step procedural process. First is the appointment of a national health
information technology (NHIT) coordinator who will report directly to the Secretary of the
Department of Health and Human Services (HHS) to provide the leadership and coordination
needed to achieve this 10-year goal.
In Washington, access is everything, said Stephen Lieber, HIMSS president
and CEO. The presidents announcement of the new NHIT coordinator position
recognizes proposals made by stakeholders and members of Congress to ensure that our
nation makes rapid progress on the adoption of the electronic health record.
According to comments released by the White House on April 26, the new NHIT
Coordinators responsibilities include:
1) Guiding work pertaining to health information standards and working to identify and
implement the various steps needed to support and encourage health information technology
in the public and private healthcare delivery systems; and
2) Coordinating partnerships between government agencies and private sector
stakeholders to speed the adoption of health information technology.
HIMSS supports the presidents initiative to adopt health information
standards, foster adoption of health information technology, promote demonstrations of
best practices, and, most importantly, create this new senior sub-Cabinet level
position, Lieber said. This step substantiates that our message is being
heard, and that federal leaders are committed to improving patient safety and partnering
with private sector stakeholders. |
| Contract Awards |
Agfa Agfa Corp (Ridgefield Park, NJ) and Evolved
(Laval, Quebec) announced that McKenna Memorial Hospital (New Braunfels, Tex), a 132-bed
acute care facility serving 36,000, has implemented a community-wide digital solution that
will implement RadWeb technology from Evolved as part of an Agfa Impax integrated
solution.Agfa also has been awarded two contracts to implement its Impax for Cardiology
solution at the University Hospitals of Leicester NHS Trust hospitals in the United
Kingdom. The NHS Trust comprises three hospitals based in LeicesterGlenfield
Hospital, Leicester General Hospital and Leicester Royal Infirmaryand is one of the
largest teaching hospitals in the United Kingdom, with a staff of nearly 10,000. Impax for
Cardiology will integrate with the existing radiology Impax components installed within
the Trust.
Airbee Wireless Airbee Wireless Inc (Potomac, Md) has received a letter of intent from
Manmar Technologies Ltd (Chennai, India) to incorporate Airbees wireless
connectivity software into Manmars imaging and diagnostic information capture and
management systems. As part of the agreement, Manmar may purchase licenses for
Airbees proprietary UltraLite software series, which supports peer-to-peer, mesh,
and star topologies.
Fujifilm Medical Systems Fujifilm Medical Systems USA Inc (FMSU of Stamford, Conn)
announced that Amerinet (St Louis) has added FMSUs Synapse PACS to its existing CR
and film contract, effective March 1, 2004, through December 31, 2006. FMSUs Synapse
image and information management system will be available to more than 1,800 hospitals and
18,000 nonacute care facilities through Amerinets contract portfolio. The addition
of Synapse comes 3 years after the original 6-year contract was secured with Amerinet in
2001.
Merge eFilm Merge eFilm (Madison, Wis) has integrated the DeliveryWare technology
platform from Esker (Madison, Wis) with its Fusion RIS solution. DeliveryWare extends the
output capabilities of radiology information systems by enabling electronic delivery of
reports through automated faxing.
MSSI-TeleScience MSSI-TeleScience International Inc (Vienna, Va) has been awarded a
5-year contract from the United States Air Force Medical Logistics Agency to fulfill
staffing requirements at Keesler Air Force Base (Biloxi, Miss). The contract is expected
to generate more than $386 million in revenue for MSSI throughout the contract period,
which includes a base year and 4 option years. MSSIs contract work for the Air Force
Medical Logistics Agency began more than 3 years ago with a medical staffing assignment
through a federal program for disadvantaged businesses.
NightHawk Radiology NightHawk Radiology Holdings Inc (Coeur DAlene, Idaho) has
received an investment of $25 million from Summit Partners (Boston), a private equity and
venture capital firm. Summit Partners investment in NightHawk Radiology comes at a
time of rapid growth for the
3-year-old teleradiology services firm, which provides services to more than 350
hospitals, radiology groups, and clinics. |
| Money Talk |
AMI Semiconductor (Pocatello, Idaho) achieved record revenues of
$454 million, up from $345 million in 2002a 32% increase. The company experienced
27% growth in its medical segments and 22% growth in 3-year revenue from design wins over
2002 in the medical market.Analogic Corp (Peabody, Mass) announced that revenues and
earnings for the second quarter, ending January 31, were in excess of $95
millioncompared with the prior years second-quarter revenues of $157 million,
a 39% decrease. Second-quarter net income was $4 million, or $0.36 per diluted share. This
compares with a net income of $21 million, or $1.59 per diluted share, for the prior
years second quarter, a decrease of 77%.
Medrad Inc (Indianola, Pa) announced 2003 sales revenues of $294 million, a 16%
increase over the previous year. This performance is consistent with Medrads 15%
average growth rate achieved in the past 10 years. Additionally, Medrads employee
base grew 8% in 2003, with 93 full-time, permanent employees added for a worldwide total
of more than 1,250. Of these jobs, 72 were in the Pittsburgh area, where full-time
employees numbered 919 at year-end. The company expects to add another 100 full-time
employees in 200460 in Pittsburgh and the balance throughout the United States and
around the world. |
| Mergers and Acquisitions |
| Instrumentarium Imaging Ziehm (Nuremberg, Germany) and Instrumentarium
Imaging Ziehm Inc (Riverside, Calif) have merged into a new independent company called
Ziehm Imaging. The Ziehm companies were units of Instrumentarium Corp, which GE Healthcare
(Waukesha, Wis) acquired in October 2003. In order to finalize the acquisition of
Instrumentarium, GE Healthcare agreed with the US Department of Justice requirement to
divest the Ziehm business worldwide. As of February 6, Ziehm Imaging became part of ATON
GmbH, a German asset management company that holds majority shares in medical care and
medical technology companies and has annual revenues of $1.6 billion. All key members of
the Ziehm management team remain with the company. Nektop Ltd recently purchased Mennen
Medical Group (Philadelphia), which includes Mennen Medical Ltd, Mennen Medical Corp, and
Charter Kontron Ltd. Nektop will introduce a stream of new cardiac catheterization
lab-related products and services designed to meet the evolving needs of healthcare
providers.
Plasmon (Colorado Springs, Colo) has completed its acquisition of Raidtec (Alpharetta,
Ga). The two companies have been working for more than 2 years to build a next-generation
product that bundles Raidtecs storage networking and RAID technologies with Plasmon
libraries. The ownership transition will not affect current Raidtec customers. Plasmon
will continue to market and support existing Raidtec products and will introduce new
products currently under development. Raidtec solutions and components will continue to be
sold worldwide through existing channels under the Raidtec brand.
PracticeXpert Inc (Los Angeles) has completed the acquisition of Cancer Care Network
(CCN of Oklahoma City) in which CCN should generate approximately $9.5 million in revenues
annually and almost $2 million in pretax profits for PracticeXpert. The purchase price was
$5.5 million, with $4.1 million in cash, $500,000 in common stock of PracticeXpert, and
$900,000 by way of a note to the seller.
SourceOne Healthcare Technologies Inc (Mentor, Ohio) has acquired C&A X-ray
(Paramount, Calif). The acquisition will expand SourceOnes coverage in southern
California and Nevada, and will enable customers in those regions to receive radiographic
supplies, service, and other equipment offerings.
Thermo Electron Corp (Waltham, Mass) has purchased US Counseling Services Inc (USCS of
Brookfield, Wis) for $77.9 million in cash, subject to a postclosing adjustment.
Thermos net purchase price is $74.7 million, after adjusting for $3.2 million in
cash acquired with the business. With the addition of USCS, Thermo has augmented its
service business to provide critical asset management skills.
UTI Corp (Collegeville Pa) has agreed to acquire MedSource Technologies Inc
(Minneapolis), making the new organization one of the largest contract manufacturing,
design, and engineering companies serving the medical technology market. Under the
agreement, which was unanimously approved by MedSources Board of Directors, the
MedSource common stockholders will receive $7.10 per share in cash upon the close of the
acquisition. The aggregate transaction value is approximately $230 million, including
assumed net debt. The deal is expected to close this summer and is subject to shareholder
and regulatory approval. |
| On the Move |
Linda Holden, MS, RT (R)(QM), RDMS, has been named
speaker of the House of Delegates for the American Society of Radiologic Technologists
(ASRT of Albuquerque, NM). Holden has served as vice speaker of the House since June 2002
and has served on several committees. A delegate to the House in several capacities,
Holden also has represented the Wyoming affiliate and legislative contacts.Cedara
(Toronto) announced the appointment of Brian Pedlar as the companys CFO. Pedlar has
been a member of Cedaras senior management team since October 2000 and held the
position of director of finance and administration. Pedlar brings with him more than 12
years of public company, corporate finance, and public accounting experience.
Flo Healthcare Solutions LLC (Norcross, Ga) has relocated to a new headquarters
facility just north of Atlanta. Located at 5801 Goshen Springs Rd, the new facility is
twice the size of the previous facility.
Siemens Medical Solutions (Malvern, Pa) has announced the appointment of Gail Latimer,
MSN, RN, to the newly created position of chief nursing officer. Latimer was formerly
senior VP and chief nursing executive at Holy Redeemer Health System and SVP/chief
operating officer at Holy Redeemer Hospital and Medical Center (Meadowbrook, Pa). She has
more than 30 years of nursing and healthcare administration experience. In her new
position, Latimer will work closely with clinical product developers, customers, industry
experts, and advisory groups to help drive the companys clinical IT solutions.
Stentor (San Francisco) has announced Jeff Otten as the companys CEO. Otten joins
Oran Muduroglu, who will remain Stentors president while also taking on the role of
COO. Otten has more than 25 years experience working in leadership positions within
the medical field. Most recently, he served as CEO of Brigham & Womens Hospital
(Boston). |
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