NationsHealth acquires Diabetes Care & Education
SUNRISE, Fla. NationsHealth on Tuesday announced that it has acquired Diabetes Care & Education, a provider of insulin pumps, pump supplies and blood glucose monitoring equipment.
“We are very excited about our acquisition of Diabetes Care & Education which supports our long-term goal of expanding our business into new areas of the diabetes patient market, as well as expanding our current product offerings to our customers,” stated Glenn Parker, NationsHealth’s chief executive officer. “Through diabetes education, we will seek to partner with physicians thereby giving us greater access to future patient acquisition channels,” he said. “We have now completed seven acquisitions since May 2007, and have used substantially all of the $5.5 million available to us under our term loan, which has provided NationsHealth access to over 13,000 new diabetes patients.”
The addition of DC&E allows NationsHealth to expand its diabetes related offerings to its existing and future patient base, including its managed care customers, and offer blood glucose testing supplies to DC&E’s patient base. Management expects the acquisition to add over $10 million of revenue to NationsHealth in 2008.
Susan Hill, founder and president of DC&E, will lead NationsHealth’s and DC&E’s combined insulin pump and diabetes education programs. Hill has been an active member of the American Diabetes Association for 25 years, where she served as president of the South Carolina affiliate of the ADA, and is currently serving on the ADA’s Leadership Council in Louisville, Ky.
Under the terms of the agreement, NationsHealth purchased all of the issued and outstanding capital stock of DC&E for $2.5 million in cash and $0.5 million in shares of unregistered common stock of the Company. NationsHealth may also pay additional cash amounts based on annual revenue targets associated with DC&E’s pump and education operations in 2008, 2009 and 2010.
Bayer announces deal to buy Citracal
MORRISTOWN, N.J. Bayer HealthCare on Thursday announced an agreement with Mission Pharmacal Company to acquire its global Citracal line of over-the-counter calcium supplements.
The companies have not disclosed the financial terms of the transaction, which is expected to close during the fourth quarter of 2007 subject to regulatory approvals.
“Our consumer health businesses are a key component of Bayer HealthCare and we will continue to invest in this area in order to maintain a diversified portfolio,” stated Arthur Higgins, chairman of Bayer HealthCare. “This acquisition further affirms our strategy and commitment to grow our consumer health segments and will help to solidify our number two position in the global OTC market.”
“The Citracal brand offers very attractive growth potential both in the critically important U.S. market and for our nutritionals portfolio, which is a key growth driver for us now and in the future,” stated Gary Balkema, president of Bayer HealthCare’s Consumer Care Division.
Citracal is primarily sold in North America and saw net sales of $47 million for fiscal year 2007.
This acquisition will increase Bayer Consumer Care’s market presence in the United States, which includes leading dietary supplement brands like One-A-Day.
Corgenix announces FDA approval for test to measure effectiveness of Aspirin
DENVER Corgenix Medical Corporation on Monday announced the recent introduction of its AspirinWorks Test Kit to doctors following approval from the Food and Drug Administration.
“We are pleased that AspirinWorks testing is now offered nationally through the LabCorp network of laboratories, making the test available to virtually every physician in the U.S.,” stated Corgenix’ clinical affairs director Gordon Ens.
The new test, which was launched nationwide in June following FDA 510(k) clearance, measures aspirin effectiveness on platelets through direct measurement of thromboxane production (aspirin’s target). The stickier the blood platelets, the less impact the aspirin is having. This information allows physicians to individualize a patient’s therapy.
“In the past few months, we have experienced a rapid increase in public interest for the AspirinWorks test,” stated Douglass Simpson, Corgenix’ president and chief executive officer. “There is growing acceptance among physicians to test for aspirin effectiveness, and we expect that by the end of 2007 a significant number of the most important clinical labs will be routinely running this test.”