Navigation Links
International Technidyne Corporation Acquired by Warburg Pincus
Date:11/4/2010

SAN DIEGO and EDISON, N.J., Nov. 4, 2010 /PRNewswire/ -- International Technidyne Corporation (ITC), formerly a subsidiary of Thoratec Corporation (Nasdaq: THOR), announced today the completion of its sale to affiliates of Warburg Pincus, LLC, the global private equity firm, in an all cash transaction valued at $55 million. ITC has been a recognized worldwide leader in hemostasis management and Point-of-Care (POC) testing for over 40 years. Immediately following the transaction, ITC then merged with Nexus Dx, Inc., a clinical diagnostics company focused on POC solutions.

"The combination of Nexus Dx and ITC will result in a company that is well equipped to serve the rapidly expanding global POC market," said Jim Merselis, President and CEO of the combined company. "Our senior executive team possesses extensive experience in the diagnostics industry and the depth of regulatory and quality know-how required to achieve sustainable success with the integrated ITC and Nexus Dx organizations."  Merselis added, "We are excited to work with the dedicated ITC and Nexus Dx employees as we continue to deliver innovative POC diagnostic solutions to our thousands of customers around the globe."

"We are delighted with the acquisition of ITC and its combination with Nexus Dx," said Bess Weatherman, Managing Director, Warburg Pincus. We believe that the new organization, with its strong product portfolio and highly experienced management team, creates a world-class platform that addresses high growth markets within POC diagnostics."

The ITC and Nexus Dx portfolio expansion strategy is based on addressing three critical POC market needs: an expanded menu of tests, ease of product use, and increased connectivity. The merger with ITC is Nexus Dx's third transaction within 15 months, and follows on from the acquisition of Nanogen's POC cardiac marker assets from a bankruptcy process in July 2009 and the subsequent merger with HX Diagnostics in September 2009. The combined company will continue to seek attractive acquisition and business development opportunities in the global POC market.

About ITC

ITC is a world leader in the fields of hemostasis management and POC testing with over 40 years of knowledge and experience.  ITC develops, manufactures, and markets products in six distinct categories: Hemochron® POC coagulation testing instruments and reagents; IRMA TruPoint® Blood Analysis System for blood gas and electrolyte testing; Avoximeter® CO-Oximetry devices and cuvettes; skin incision products including Tenderfoot®, Tenderlett® and Surgicutt®; HgbPro® Professional Hemoglobin Testing System; and ProTime® Microcoagulation System for monitoring the clotting activity in blood in patients on anticoagulant therapy.  For more product information, go to www.itcmed.com.

About Nexus Dx

Nexus Dx was formed in 2009 by Bay City Capital to take advantage of current and emerging market opportunities in POC diagnostics by consolidating products and technologies to create a company dedicated to improving patient outcomes and healthcare economics via decentralized blood diagnostic testing.  Nexus Dx is led by Jim Merselis, President and CEO, and Ed Brennan, Ph.D., Chief Integration Officer; both have over 30 years of experience in the healthcare industry and were formerly CEO and Chairman, respectively, of HemoSense, Inc. (AMEX: HEM) sold in November 2007 to Inverness Medical Innovations (now Alere) for $265 million. Nexus is backed by an investor syndicate consisting of Bay City Capital, Kleiner Perkins Caufield & Byers, and Prolog Ventures. Nexus Dx was advised in the transaction by Inverness Advisors. For more information, go to www.nexus-dx.com.

About Warburg Pincus

Warburg Pincus is a leading global private equity firm. The firm has more than $30 billion in assets under management. Its active portfolio of more than 110 companies is highly diversified by stage, sector, and geography. Warburg Pincus is a growth investor and an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 13 private equity funds which have invested more than $35 billion in over 600 companies in more than 30 countries. The firm has offices in Beijing, Frankfurt, Hong Kong, London, Mumbai, New York, San Francisco, São Paulo, and Shanghai. For more information, please visit www.warburgpincus.com.


'/>"/>
SOURCE International Technidyne Corporation (ITC)
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Edwin Rivera-Martinez, Former Chief of the FDA’s International Compliance Branch, Joins PAREXEL Consulting Strategic Compliance Team
2. Distinguished Scientist H. Mario Geysen Joins SRI International to Lead Combinatorial Sciences and Metabolic Diseases Research Programs
3. Dr. Fred Ueland, Markey Cancer Center, University of Kentucky Presents OVA1™ High Sensitivity Data at the 13th Annual International Gynecologic Cancer Society Meeting
4. Bacterin International Reconstitutes Its Board of Directors and Appoints Experienced Legal and Financial Professionals
5. Indias Favorable and Progressive Regulatory Environment Causes Accelerated Growth of Max Neeman Internationals Regulatory Services
6. David P. Lang Appointed Vice President of CryoLife International, Inc.
7. YM Biosciences To Present Poster On CYT387 At The European School Of Haematology International Conference
8. ISTA Pharmaceuticals Highlights Clinical Data from REMURA™ Phase 2 Study Presented at the 6th International Conference on the Tear Film & Ocular Surface
9. PROLOR Biotechs Longer-Acting Human Growth Hormone Data Selected for Presentation at 5th International Congress Of The Growth Hormone Research Society and IGF Society
10. DATATRAK International, Inc. Announces Initial Equity Research Coverage by Zacks Investment Research
11. Yongye International to Present at Rodman & Renshaw Annual Global Investment Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... - FACIT has announced the creation of a ... Propellon Therapeutics Inc. ("Propellon" or "the Company"), to ... of first-in-class WDR5 inhibitors for the treatment of ... an exciting class of therapies, possessing the potential ... patients. Substantial advances have been achieved with the ...
(Date:6/23/2016)...  The Biodesign Challenge (BDC), a university competition that ... living systems and biotechnology, announced its winning teams at ... New York City . The teams, ... at MoMA,s Celeste Bartos Theater during the daylong summit. ... curator of architecture and design, and Suzanne Lee ...
(Date:6/23/2016)... 2016 Apellis Pharmaceuticals, Inc. today announced ... of its complement C3 inhibitor, APL-2. The trials ... dose studies designed to assess the safety, tolerability, ... in healthy adult volunteers. Forty subjects ... single dose (ranging from 45 to 1,440mg) or ...
(Date:6/23/2016)... ... June 23, 2016 , ... Regulatory Compliance Associates® ... provides a free webinar on Performing Quality Investigations: Getting to Root ... CT at no charge. , Incomplete investigations are still a major concern to ...
Breaking Biology Technology:
(Date:6/22/2016)... , June 22, 2016  The American College of ... Trade Show Executive Magazine as one of the fastest-growing ... May 25-27 at the Bellagio in Las Vegas ... the highest percentage of growth in each of the following ... exhibiting companies and number of attendees. The 2015 ACMG Annual ...
(Date:6/16/2016)... , June 16, 2016 ... size is expected to reach USD 1.83 billion ... Grand View Research, Inc. Technological proliferation and increasing ... applications are expected to drive the market growth. ... , The development of advanced multimodal ...
(Date:6/3/2016)... 2016 Das DOTM ... Nepal hat ein 44 Millionen ... Kennzeichen, einschließlich Personalisierung, Registrierung und IT-Infrastruktur, an ... und Implementierung von Identitätsmanagementlösungen. Zahlreiche renommierte internationale ... teilgenommen, aber Decatur wurde als konformste und ...
Breaking Biology News(10 mins):