Navigation Links
Devicor™ Medical Products, Inc. Agrees to Acquire Neoprobe's Gamma Detection Devices

CINCINNATI, May 25, 2011 /PRNewswire/ -- Devicor Medical Products, Inc. (Devicor), a portfolio company of leading private equity firm GTCR, announced today it has signed an asset purchase agreement with Neoprobe Corporation to acquire the neoprobe® GDS portfolio of products. Devicor currently provides distribution and marketing services to Neoprobe for the gamma detection systems covered by this agreement. Financial terms of the agreement include $30 million cash at close plus up to an additional $20 million in royalties based on revenue milestones. The sale is subject to approval by Neoprobe's shareholders and is expected to close shortly after the shareholders' meeting in August.

"We are excited to sign this agreement with Neoprobe and believe this is a significant step toward our goal of building a market leading medical device business," says Devicor CEO Tom Daulton. "We look forward to welcoming to Devicor the dedicated Neoprobe employees responsible for this growing product portfolio, as we plan to expand the business further through our global direct sales platform."

The acquisition of the neoprobe® GDS line comes less than a year after Devicor's acquisition of Ethicon Endo-Surgery's (EES) Breast Care business, Mammotome, which sells products designed to help doctors detect and diagnose breast cancer. GTCR will be investing additional equity capital in Devicor to finance a portion of the purchase price of the neoprobe® GDS assets.

"The commitment of additional equity capital by GTCR to support our growth is an excellent example of the strong partnerships GTCR forms with management teams to build successful companies in healthcare and other industries," says Jonathan Salkin, Devicor's Executive Vice President of Corporate Development & Strategy.  

The Mammotome® product portfolio is sold in 50 countries around the world and includes the Mammotome® Breast Biopsy System as well as tissue markers for breast disease diagnostic sampling and management. Mammotome has distributed and marketed Neoprobe's line of gamma detection systems since 2000, as part of EES and then continuing as part of Devicor.

"We are pleased to have arrived at this important agreement for our gamma detection devices with a leader in the diagnostic device space," says Dr. Mark Pykett, Neoprobe's President and CEO. "Devicor is a trusted partner, and we believe it can ultimately deliver to Neoprobe the full value of the device business we've built. This transaction allows Neoprobe to strategically focus its expertise, competencies, and resources in the radiopharmaceutical space and, in doing so, become a pure-play specialty pharmaceutical company where attractive valuations can be realized for our shareholders."

About Devicor™ Medical Products, Inc.

Devicor, the parent corporation of Mammotome, is a fast-growing global company dedicated to acquiring and growing healthcare companies. With an initial focus on the breast cancer market, the company is dedicated to building a global business through the investment in, and development of, tools and technologies that facilitate minimally invasive medical procedures. For more information, please visit

Mammotome, headquartered in Sharonville, Ohio, has more than 300 employees around the globe. The company is committed to advancing technology to help clinicians accurately diagnose breast disease, such as breast cancer, through minimally invasive procedures. Sold in more than 50 countries around the world, the Mammotome® product portfolio includes the Mammotome® Breast Biopsy System and tissue markers (MammoMARK®, MicroMARK®, and CorMARK®) used in breast disease diagnostic sampling and management. Since its introduction in 1995, more than 3.4 million women have had a minimally invasive breast biopsy in stereotactic, ultrasound or MRI-guidance imaging using the Mammotome® Biopsy System. For more information, please visit

About Neoprobe Corporation

Neoprobe is a biomedical company focused on enhancing oncology patient care and improving patient benefit. Neoprobe currently markets the neoprobe® GDS line of gamma detection systems that are widely used by cancer surgeons. In addition, Neoprobe holds significant interests in the development of related biomedical systems and radiopharmaceutical agents including Lymphoseek® and RIGScan™ CR.  Neoprobe's subsidiary, Cira Biosciences, Inc., is also advancing a patient-specific cellular therapy technology platform called ACT. Neoprobe's strategy is to deliver superior growth and shareholder return by maximizing its strong position in gamma detection technologies and diversifying into new, synergistic biomedical markets through continued investment and selective acquisitions. For more information, please visit

About GTCR

Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare and Information Services & Technology industries. The Chicago-based firm pioneered the "Leaders Strategy" – finding and partnering with world-class leaders as the critical first step in identifying, acquiring and building market-leading companies through acquisitions and organic growth. Since its inception, GTCR has invested more than $8.5 billion in over 200 companies. For more information, please visit

SOURCE Devicor Medical Products, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Spa & Resort/Medical Aesthetics Expo Platforms Unique Exhibitor Offerings
2. Data Presented at Two Global Medical Congresses Reinforce Benefit of Enbrel® (etanercept) for Patients with Chronic Inflammatory Conditions
3. Announcing the Online Debut of Big Buds (, Your One Source for Growing Medical Marijuana
4. Phreesias Enhanced Integration Capabilities Provide Better Patient Management for Medical Practices
5. iPad Supports Medical Practitioners on the Move
6. Applied Medical Sues Covidien, Asserting Recently Issued Universal Seal Trocar Patent
7. Texas Instruments introduces first quad-channel 16-bit, 100 MSPS ADC for faster, smaller medical imaging equipment
8. Aethlon Medical to Present the Aethlon ADAPT™ System at C21 BioVentures™ Life Sciences Partnering Conference
9. Reportlinker Adds Advanced Digital Medical Equipment Products Market
10. Reportlinker Adds India Medical Devices Manufacturers, Distributors and Exporters Directory 2011
11. Reportlinker Adds The Outlook for Medical Devices in South East Asia
Post Your Comments:
(Date:11/26/2015)... , November 26, 2015 /PRNewswire/ ... announced the addition of the  "2016 ... the European Cell Surface Marker Testing ... Opportunities"  report to their offering.  ... the addition of the  "2016 Future ...
(Date:11/25/2015)... , Nov. 25, 2015  Linden Care, LLC, a ... treatment outcomes for patients suffering from chronic pain, said ... a Temporary Restraining Order (TRO) enjoining Express Scripts from ... companies. --> --> ... of its legal options. --> ...
(Date:11/25/2015)... , November 25, 2015 ... KTOV ) (TASE: KTOV), a biopharmaceutical company focused on ... of various clinical conditions, today announced the closing of ... Depository Shares ( ADSs ), each representing 20 ordinary ... to 3,158,900 ADSs. The ADSs and warrants were issued ...
Breaking Medicine Technology:
(Date:11/28/2015)... ... 2015 , ... Pixel Film Studios is back again with ProPanel: Pulse ... are endless. Users have full control over angle of view, speed method, start point, ... sure to get heads to turn. , ProPanel: Pulse offers fully customizable pulsating shape ...
(Date:11/27/2015)... ... 27, 2015 , ... According to an article published November 15th ... are handling security in light of the recent terrorist attacks in Paris, other cities ... stop an attack from reaching U.S. soil. Especially around special events that may be ...
(Date:11/27/2015)... PA (PRWEB) , ... November 27, 2015 , ... ... how filthy the toilets were," said an inventor from Hillside, N.J. "Many people ... improved seat cover so that individuals will always be protected from germs." , ...
(Date:11/27/2015)... ... , ... MPWH, the No.1 Herpes-only dating community in the world, revealed that over 50% of ... than 3.7 billion people under the age of 50 – or 67% of the population ... global estimates of HSV-1 infection . , "The data shocks us highly!" said Michelle ...
(Date:11/27/2015)... ... November 27, 2015 , ... The moment you stop improving ... only fulfilling the needs of advisers and clients but going above and beyond ... top-tier customer service. However, there's always room for improvement, which is why the ...
Breaking Medicine News(10 mins):