Leveraged buyout company The Riverside Co. has purchased an Indiana-based maker of orthodontics equipment. Riverside has made 48 healthcare acquisitions since its founding in 1988, but the G&H deal marks its first foray into orthodontia.

A bipartisan group of 15 senators sent a letter to FDA Commissioner Dr. Margaret Hamburg urging her agency, among other things, to adopt a more deliberate, cautious approach to amending 510(k). And Orthopedics company Stryker Corp. has agreed to sell a product line including the bone growth putty that has caused the company so much legal grief to Olympus Corp. for $60 million.

Federal prosecutors blasted Stryker Corp.’s (NYSE:SYK) biotech subsidiary, its former president and three sales reps for seeking the dismissal of the bulk of the 16 criminal charges pending against them in a federal case alleging the illegal promotion of bone putties.Hopkinton, Mass.-based Stryker Biotech, former president Mark Philip and the [...]

Indianapolis drug maker Eli Lilly & Co. (NYSE:LLY) has agreed to pay up to $800 million for Avid Radiopharmaceuticals, the Philadelphia developer of a tracing agent that can help diagnose Alzheimer’s disease. The tracing agent, florbetapir F 18 — which last week topped the Cleveland Clinic’s Top 10 Medical Innovations list for 2011 — is coupled with a PET scan to allow doctors to see inside patients’ brains to detect beta-amyloid plaques, the tell-tale signature of Alzheimer’s.

Arcadia Resources Inc. (AMEX: KAD) will sell up to $5 million in common shares in a registered direct offering to raise money for general corporate purposes, including expanding its pharmacy business.

Medical device company SonarMed Inc. has raised $1 million to help launch its first product — the Airway Monitoring System. The Indianapolis, Indiana, company has been perfecting its system — which uses sonar waves, sensors and software to display information about ventilator breathing tube position — for market.

West Lafayette, Indiana, biopharmaceutical company Endocyte Inc. hopes to raise more than $86 million from an initial public offering of stock. The company that develops small-molecule drug “conjugates” to treat cancer and inflammatory diseases would use offering proceeds to pay for clinical trials, repay debt and develop its drugs.

The Food & Drug Administration warned Biomet Inc. that its personalized knee implant planning offering, the Signature Personalized Patient Care system, lacks approval or clearance to be on the market in the United States.

SonarMed Inc. celebrated the biggest milestone in its nearly five-year history earlier this year when its breathing-tube-monitoring device was cleared by the U.S. Food and Drug Administration.Now it just needs to start selling the device, which is used for patients on ventilators. But before the company rolls it out, Indianapolis-based SonarMed wants to ensure that [...]

Cook Medical Group and Boston Scientific Corp. (NYSE:BSX) both got their start with catheter-based devices, but the medical device giants’ similarities don’t stop there. As Boston Scientific founder John Abele told MassDevice last month, his firm got its start in an unlikely place: the basement of a Catholic Church in Belmont, [...]