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In an elaborate corporate quadrille, partnerships are formed, licenses bought, and subsidiaries acquired. Meanwhile executives move into and out of their positions.
Why invent the wheel when there are perfectly good ones available for the picking? Among the companies looking for an edge through corporate teamwork are:
GE Healthcare (NYSE: GE) will evaluate a novel molecular imaging technology that homes in on dead cells in the brain and heart. The probes bind to dead and dying cells, indicating acute cell injury and cell death. When the active component of this molecule is attached to a radioactive tracer, it can be used in nuclear medicine imaging procedures, such as PET or SPECT scans, to produce 3D images of where cell death is occurring.
The ability to image dead and dying cells could allow oncologists to rapidly monitor tumor response to a specific therapy. Another potential application is for rapid diagnosis of myocardial infarction. Under the licensing agreement with the Medical College of Wisconsin, GE will have the option to commercialize the technology, which was invented by Ming Zhao, Ph.D., an assistant professor of biophysics at the Medical College.
Earlier this month Barco completed its acquisition of a Philips (NYSE: PHG) subsidiary, FIMI, which specializes in dedicated modality monitors, patient monitoring, and mobile point-of-care devices. Barco paid €19 million ($28 million) plus an additional earn-out of €10 million ($15 million) over the next five years. Barco executives hope that expanding their current display offerings with FIMI products will open new sales opportunities while enhancing the company’s position in the medical display market. FIMI started making monitors in 1977 and has been active in the medical imaging market for more than 20 years.
Steve West has taken the reins as the new CEO of MDS Nordion (TSX: MDS; NYSE: MDZ), replacing Stephen DeFalco. West has been president of MDS Nordion for the past seven years. Senior vice president of finance Peter Dans will become chief financial officer effective Feb. 1, 2010, replacing Doug Prince, who is scheduled to step down as CFO in March. The executive changes are part of a corporate restructuring that includes the sale of the company’s analytics and pharma services businesses. The restructuring was prompted last year by shareholder dissatisfaction over the low stock price. That continued with the current reactor shutdown in May at the Chalk River facility, necessitated by a reactor leak. Current plans call for the reactor to restart operations in March.
John Bowers has joined hand-carried ultrasound pioneer SonoSite as senior vice president of strategic development and patient safety innovations. Bowers previously served as president and CEO of Northstar Neuroscience of Shoreline, WA.
Chris Duca has stepped up to become president of medical equipment distributor Virtual Imaging, a subsidiary of Canon USA. Duca previously served at the company as vice president and COO. He replaces the retiring founder of Virtual Imaging, Tim Martinso