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NovaMed (Nasdaq: NOVA) $12.91. Today announced that it has entered into a definitive merger agreement to be acquired by an affiliate of Surgery Center Holdings, Inc. (“Surgery Partners”) in a transaction valued at approximately $214 million, including the assumption or repayment of approximately $105 million of indebtedness. Surgery Partners is an affiliate of H.I.G. Capital, LLC, a leading global private equity investment firm. The merger agreement was unanimously approved by NovaMed’s board of directors, including a special committee of independent directors.
Under the terms of the merger agreement, NovaMed stockholders would receive $13.25 per share in cash, representing a premium of 54.6% over the closing price of NovaMed’s common stock as of the time of Surgery Partners’ initial offer on August 2, 2010; a 17.7% premium over the Company’s 90 day average closing price; and a 10.7% premium over the Company’s 30 day average closing price.
What They Do: NovaMed operates, develops and acquires ambulatory surgery centers in partnership with physicians and holds majority ownership interests in 37 surgery centers located in 19 states.
Cytori Therapeutics (Nasdaq: CYTX) $5.36. Announced Thursday after market close the presentation of data demonstrating a statistically significant reduction in ventricular tachyarrhythmias following adipose-derived regenerative cell (ADRC) therapy in patients with acute heart attack. The findings were presented at the 6th International Conference on Cell Therapy for Cardiovascular Disease by co-Principal Investigator on the APOLLO study, Henricus J. Duckers, M.D., Ph.D., Interventional Cardiologist, Head of Molecular Cardiology, Thoraxcentre, Erasmus University Hospital, Rotterdam, The Netherlands.
In Dr. Duckers' presentation, ADRC therapy was associated with a significantly lower incidence of ventricular tachyarrhythmias. A total of three episodes of ventricular tachyarrhythmia were reported in the treated group as compared to 10 in the control group (p=0.018). On a per patient basis, the treated group experienced a mean of 0.3 episodes of ventricular tachyarrhythmias as compared to 2.5 in the control group (p=0.048). The analysis of Holter recordings also indicated lower incidence of premature ventricular contractions (PVC, a single abnormal beat) in patients treated with ADRCs. In ADRC-treated patients, 5 PVCs per patient, per day, were reported whereas in placebo-treated patients, the number of PVCs reported per patient, per day, was 72 (p=0.014).
"Although not the primary study endpoint, the observed reduction in arrhythmias supports the safety of ADRCs in the treatment of patients with an acute heart attack," said Dr. Duckers. "Furthermore, the data presented are consistent with previously reported results from Cytori's preclinical studies."
Six month primary outcomes were reported from the APOLLO study in May 2010 at the 7th International Symposium on Stem Cell Therapy & Cardiovascular Innovation in Madrid, Spain.
What They Do: Cytori is a leader in providing patients and physicians around the world with medical technologies that harness the potential of adult regenerative cells from adipose tissue
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