Stockholm, Sweden-based Incentive, an international medical technology company, says it has completed its tender offer for the renal-care division of San Mateo, Calif.-based Vivra, the nation's second-largest provider of dialysis services. Incentive says an estimated 40.7 million shares were tendered at a price of $35.62 per share, or a total of $1.4 billion. Incentive says it plans to merge Vivra Renal Care with its existing dialysis services unit, Lakewood, Colo.-based Gambro Healthcare. As part of the merger, Vivra shareholders will receive $35.62 per share in cash for the remaining 1.3 million shares of Vivra common stock not acquired in the tender offer. The merger was expected to be completed June 12. Combined, Gambro and Vivra Renal Care will operate 380 dialysis clinics in the U.S.
Physician Sales and Service, Jacksonville, Fla., has signed exclusive agreements with four medical equipment makers to distribute their products directly to physician offices. The products include low-end ultrasound imagers made by the Issaquah, Wash.-based ultrasound division of Siemens Medical Systems; a bone densitometer made by Waltham, Mass.-based Hologic; a bladder cancer urine test from Redmond, Wash.-based Bard Diagnostic Sciences; and a body fat analyzer from Skokie, Ill.-based Tanita Corp. Terms of the agreements were not disclosed. Physician Sales and Service is a leading distributor of medical supplies, equipment and drugs specializing in doctor offices.
Diagnostic imaging equipment maker Siemens Medical Systems, Iselin, N.J., and CTI, a Knoxville, Tenn.-based manufacturer of positron emission tomography scanners, have extended for 10 years their joint venture for sales of PET scanners. Known as CPS, the joint venture was started in 1988 between CTI and Siemens Nuclear Medicine Group. Financial terms of the joint venture renewal were not disclosed.
Health and Retirement Properties Trust recently acquired $171 million of healthcare properties. They include a Washington-based retirement community leased to Brookdale Living Communities; 20 medical clinics in Massachusetts' Worcester County leased to a regional HMO; and two medical office buildings and garages adjacent to Cedars-Sinai Medical Center in Los Angeles. According to the Newton, Mass.-based real estate investment trust, 71% of its $1.9 billion in investments and commitments are in healthcare real estate. New York-based investment banking firm NatWest Securities expects Health and Retirement Properties to close another $50 million to $70 million of investments before year-end.
Premier, a 1,800 hospital alliance, has extended a range of sole-source contracts with Mallinckrodt to seven years from five, effective July 1. Under the arrangement covering contrast media, radiopharmaceuticals and various other supplies, Premier designated St. Louis-based Mallinckrodt as a corporate partner, a status conferred on only seven other group purchasing vendors, the alliance says. Financial terms and estimated savings under the contracts were not disclosed.
Kurt Salmon Associates, an Atlanta-based management consulting firm, has tripled its healthcare information technology practice with the recent acquisition of Healthcare Management Counselors. HMC is a private, New York-based information technology company with annual revenues of $5 million. It had been a division of Richard A. Eisner & Co., a New York-based accounting and consulting firm. Terms of the deal were not disclosed. HMC is being merged with KSA's healthcare division, Hamilton-KSA. The newly consolidated division, renamed Hamilton-HMC, will provide strategic planning and information technology services.