Teleradiology giant vRad sold to Mednax for $500M
Teleradiology giant Virtual Radiologic is being sold to physician practice management company Mednax for $500 million in cash, the two companies announced Tuesday.
Virtual Radiologic founder launches new early stage fund
Dr. Sean Casey, a founder and former CEO of Virtual Radiologic Corp., has launched a new early stage venture fund, MedCity News has learned. Omphalos Venture Partners, based in Bloomington, Minnesota, is targeting healthcare, consumer and information technology companies.
Virtual Radiologic to buy teleradiology rival Nighthawk for $170M
Virtual Radiologic Corp. is becoming the undisputed king of teleradiology. The newly private company in Eden Prairie, Minnesota, said Monday it would buy top rival NightHawk Radiology Holdings Inc. for $170 million, or $6.50 a share. The deal would give the combined company $278 million in annual revenue and access to 325 radiologists serving 2,700 healthcare facilities in all 50 states.
Virtual Radiologic’s $294M sale to private equity firm closes
Providence Equity Partners has completed its $294 million purchase of radiology outsourcing firm Virtual Radiologic Corp. (NASDAQ: VRAD). The agreement to take Virtual Radiologic private was first announced in May. With shareholder approval of the transaction, Virtual Radiologic will cease trading on the Nasdaq and be delisted, according to a statement. The $17.25 per-share deal […]
Orthodpedic firm Tornier Inc. files for $205 million IPO
Tornier Inc. is planning to test the choppy waters of Wall Street with an estimated $205 million initial public offering, according to documents filed with the Securities and Exchange Commission. The orthopedics firm in Edina, Minn., which specializes in devices to treat injuries to extremities and small bones, is the third local medical device company […]
ev3 latest Minnesotan medical technology company to cash out
Given Wall Street’s turmoil of late, it’s not too surprising that buyers would search for bargains, especially struggling medical device companies with promising technology and awful balance sheets. Case in point: Medtronic Inc.’s (NYSE: MDT) $370 million purchase of ATS Medical Inc. in Plymouth, Minn. But ev3 Inc. (NASDAQ: EVVV) and Virtual Radiological Corp. (NASDAQ: […]
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Weak capital markets claim another victim: Virtual Radiologic Corp.
There was every reason to expect Virtual Radiologic Corp. (NASDAQ: VRAD) to become Minnesota’s next medical technology star. The company, based in Eden Prairie, was one of the last local firms to go public, raising $68 million from its initial public offering in November 2007. Virtual was one of only two national players to dominate […]
Virtual Radiologic Corp. sold for $294M, will go private
Minnesota’s public medical companies not named Medtronic Inc. are continuing their disappearing act, with Virtual Radiologic Corp. (NASDAQ: VRAD) heading private after a $294 million acquisition closes. The radiology outsourcing firm, which went public in a $68 million IPO three years ago, has agreed to be purchased by Rhode Island-based private equity firm Providence Equity […]
Minnesota’s public medical companies not named Medtronic are shrinking
Ernie Andberg has a little more free time on his hands these days. The long-time “emerging medical device companies” equity analyst for Feltl & Co. in Minneapolis has not seen a lot of companies emerging lately. In fact, they’ve been disappearing all together. Case in point: Medtronic Inc.’s (NYSE: MDT) deal last week to acquire […]
EnteroMedics retools, refocuses to win FDA approval
Someday, in the not-so-distant future, EnteroMedics Inc. officials might look back at late 2009 and laugh. Or cry. That ultimately depends on whether the Food and Drug Administration ultimately approves or rejects the company’s groundbreaking Maestro device. Approval means enormous financial success, the only implantable neurostimulation device in the United States designed to treat obesity. […]
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.