Bristol-Myers Squibb Co, Trenton, New Jersey, announced that the company has completed the sale of its high-tech dressing and wound-care business, which will free up money needed to buy the company's cancer drug partner, ImClone Systems Inc, New York, New York. The unit was sold for approximately $4.1 billion to Nordic Capital Fund VII and Avista Capital Partners.
For nearly 30 years, ConvaTec has been a pioneer in developing and marketing innovative wound therapeutics and ostomy care products that have helped improve the lives of millions of people worldwide. ConvaTec continues to be at the forefront of the movement to change the way health care professionals are managing chronic and acute wounds, emphasizing the principles of advanced wound healing and evidence-based medicine. From its headquarters in Skillman, New Jersey, the company oversees more than 3500 employees in 91 countries serving patients and their health care professionals on 6 continents.
In July, ConvaTec received an International Award for Excellence in this year's annual competition. The Healthcare Communication and Marketing Association, sponsors of the awards, presented ConvaTec with a Bronze Award in the Medical Education/Interactive category for the creation of its interactive, CD-ROM-based "Solutions Algorithm for Skin and Wound Care," an evidence-based wound assessment and treatment guideline available to help health care professionals make correct wound treatment decisions.
[black up pointing small triangle]Information:http://www.bms.com
Molnlycke Health Care US, LLC, Norcross, Georgia, has announced the addition of new products to its current line of advanced wound care products. Molnlycke Health Care previously manufactured the Lyofoam Foam Dressings, Setopress High Compression Bandages, and the Tubigrip family of Compression Bandages for distribution by ConvaTec in the United States and has recently been afforded the opportunity to add these products to its current wound care assortment. Molnlycke Health Care is one of the world's leading providers of single-use surgical and wound care solutions to the professional health care industry.
[black up pointing small triangle]Information:http://www.molnlycke.com
The board of directors of Ivivi Technologies, Inc, Montvale, New Jersey, a medical technology company, has appointed Steven M. Gluckstern, chairman of Ivivi Technologies, to the positions of president and chief executive officer. Mr Gluckstern will also continue to serve as chairman of the board of directors. Ivivi's research and development activities are focused specifically on targeted pulsed electromagnetic field, or tPEMF, technology, which, by creating a therapeutic electrical current in injured soft tissue, modulates biochemical and physiological healing processes to help repair the injured tissue and reduce related pain and inflammation. The company's electroceuticals have been used in noninvasive treatments for a wide array of conditions, including chronic wounds, pain, and edema following plastic and reconstructive surgery and chronic inflammatory disorders.
[black up pointing small triangle]Information:http://www.ivivitechnologies.com
Celleration, Inc, Eden Prairie, Minnesota, developer of the patented MIST Therapy System, an innovative ultrasound wound healing device that promotes healing through cellular stimulation while removing bacteria from the wound, has successfully completed its Series D financing raising $30 million. Venture Investors co-led the round with Heron Capital and Clarian Health Ventures. Other participants in this round included existing investors AAVIN Equity Partners, Affinity Ventures, Baird Venture Partners, CID Equity Capital, New Science Ventures, Prism Opportunity Fund, Seneca Health Partners, Triathlon Medical Ventures, Tyco Sigma Limited, and Upper Lake Growth Capital. New investors included Clarian Health Ventures, Heron Capital, and HMA Capital. JMP Securities served as placement agent for the financing.
Celleration will use proceeds from this financing round to expand and accelerate its sales and marketing efforts to make the MIST Therapy System an integral part of the standard of care for the treatment of chronic and hard-to-heal wounds. More than 15,000 patients have been treated with the MIST Therapy System at 700 sites across the United States. The benefits of the therapy have been highlighted in 7 peer-reviewed publications to date, documenting the technology's impact on healing wounds faster, according to the manufacturer.
[black up pointing small triangle]Information:http://www.celleration.com
Derma Sciences, Inc, Princeton, New Jersey, has reached a 2-year distribution agreement for its MEDIHONEY line with Irving, Texas-based Novation, the leading health care contracting services company, serving more than 2500 members of VHA Inc and the University Health System Consortium, 2 national health care alliances, and nearly 13,000 members of Provista, LLC. The 24-month agreement extends through June 2010.
The MEDIHONEY line of dressings, containing active Leptospermum honey, is used for managing a wide variety of wounds and burns. In July 2008, the Food and Drug Administration gave its initial clearance of MEDIHONEY. Two additional clearances for line extensions have been granted.
Derma Sciences, Inc, has also entered into an agreement with MedEfficiency, Inc, for the exclusive distribution of the company's novel "total contact casts." MedEfficiency's TCC-EZ cast will act as a protective barrier for the open wounds that often develop on the undersides of diabetic patients' feet.
The TCC-EZ cast is a patented fiberglass-based knit tubular sock that is rolled onto a patient's foot and lower leg in less than 5 minutes. This is formed into a cast, which sets in approximately 10 minutes, greatly reducing the amount of time required for both application and curing of the cast. These new efficiencies will act as a major incentive for clinicians to use total contact casts and should substantially increase utilization rates. The TCC-EZ also provides additional support and stability for the patient, thus reducing the likelihood of posttreatment injuries as well, according to the manufacturer.
[black up pointing small triangle]Information:http://www.dermasciences.com
KISS Healthcare, Inc, Chino Hills, California, has launched the KISS Wound Label, a patented wound assessment, documentation, and measurement tool. The KISS Wound Label uses color standardization and geometric shapes (rings, ellipses, and bars) to visually scale a wound when using photography for documentation in the medical record. According to the Centers for Medicare and Medicaid Web site (http://www.cms.hhs.gov/HospitalAcqCond/), for discharges occurring on or after October 1, 2008, hospitals will not receive additional payment for cases in which Stage III and Stage IV wounds are documented in the medical record and coded, where there is no evidence that these wounds were not present on admission. The KISS Wound Label offers a low-cost solution to the inherent problems of wound photography and documentation. The new KISS Wound Label provides a documentation process that is easy to use, standardized, and ensures proper hand-off communication of wounds by specifying the wound by ring color. The color labels are easy to see when the camera focus is not ideal, according to the manufacturer. The KISS Wound Label keeps it simple.
[black up pointing small triangle]Information:http://Kisshealthcare.com
Caritas Good Samaritan Medical Center, Brockton, Massachusetts, has announced the opening of its Center for Wound Care and Hyperbaric Medicine, Stoughton, Massachusetts. Services provided by the center include consultation, comprehensive medical assessment, development of a treatment plan, advanced wound care treatment, state-of-the-art hyperbaric oxygen therapy, and patient education. Christopher Corey, MD, will serve as the center's medical director. The center is designed to complement services offered by the patient's physician and serves as an extension of the physician's practice.
[black up pointing small triangle]Information:http://www.caritasgoodsam.org/