Constellation Alpha Capital Corp. Signs Letter of Intent to Acquire DermTech, Inc.

Constellation Alpha Capital Corp. (NASDAQ: CNAC) (“Constellation”), a special purpose acquisition company, announced that it has executed a non-binding Letter of Intent to merge with DermTech, Inc. (“DermTech”), a molecular genomics company, with an initial focus on skin cancer, that develops and markets novel non-invasive diagnostic tests. DermTech is a leading genomics company in dermatology, bringing precision medicine to the diagnosis and treatment of skin disease. DermTech markets and develops products that facilitate the early detection of skin cancers, assess inflammatory diseases and help customize drug treatment.

Imaging3 Signs Letter of Intent for Reverse Acquisition by CA Cannabis Company

Imaging3, Inc. (OTCQB:IGNG, ‘Imaging3’ or the ‘Company’), a development stage company introducing disruptive technologies in the medical imaging industry, today announced that it has executed a non-binding letter of intent (‘LOI’) to be acquired in a reverse acquisition (the ‘Acquisition’) by a privately held Los Angeles based cannabis company (the ‘Acquirer’). Imaging3, Inc., founded in 1993, has developed a patented medical imaging technology, called the Dominion SmartScan’,that produces 3D X-ray images, effectively in real time. The SmartScan technology has the potential to allow healthcare professionals to perform diagnostic and therapeutic procedures more quickly and accurately, which may result in higher throughput for the clinicians and fewer safety risks for patients.

23andMe Will Tell You How Your DNA Affects Your Diabetes Risk. Will It Be Useful?

As more people get genetic testing to assess their risk of getting cancers and other serious conditions, diabetes has been almost entirely left out ‘ largely because of the difficulty of developing a useful test. But at the South by Southwest festival on Sunday, the consumer genomics giant 23andMe announced that it will now tell its customers how their DNA affects their chances of developing type 2 diabetes, a condition better known for its link to environmental factors than genetics. The new test moves 23andMe into a disease projected to affect two-fifths of America’s population of adults in their lifetime. But it’s not at all clear whether it will provide additional value beyond the benefit conferred by existing screening programs that simply query people about things like their lifestyle habits and their family history. When 23andMe launches the new report, ‘a bunch of people are going to find out that they’re at increased risk,’ Emily Drabant Conley, the company’s vice president of business development, told reporters at a briefing last week at the company’s Silicon Valley headquarters. ‘So this may prompt them to go take action where they can actually get diagnosed.’

Wellspring Buys PE-Backed Center for Diagnostic Imaging

Wellspring Capital Management prevailed in the sponsor-driven process for Center for Diagnostic Imaging, the country’s largest private diagnostic-imaging company, Buyouts has learned. The seller is Greenwich, Connecticut, Black Diamond Capital Management. The alternative-asset manager retained Jefferies to advise on a sales process in 2018, as initially reported by Buyouts. The transaction, initially disclosed in an premerger filing on the FTC website, commanded a high-single-digit multiple of Ebitda, a person familiar with the matter said. That implies a valuation south of $750 million, based upon the about $75 million in adjusted 2018 Ebitda that CDI was expected to produce, as reported. With a network of outpatient-based diagnostic-imaging centers spanning more than 40 states, CDI is the largest U.S. provider behind publicly traded RadNet, whose current market cap is around $700 million.

Water Street Announces Strategic Investment in Pathnostics

Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, announced today that it has completed a new investment in Irvine, Calif.-based diagnostic solutions company, Pathnostics. Water Street’s team, which has years of experience in the diagnostic and laboratory services sector, will partner with the fast-growing company to invest in and expand its innovative technology and portfolio of products. Founded in 2014, Pathnostics specializes in diagnostic tests and services across a range of therapeutic areas, including urology, women’s health, gastroenterology and cancer. Pathnostics marks Water Street’s fifth investment in the diagnostics sector and first new investment of 2019. Since its founding in 2005, the health care firm has completed more than 100 strategic transactions to build 30 market-leading companies in key sectors of health care.

Quest Diagnostics Completes Acquisition of Laboratory Services Business of Boyce & Bynum Pathology Laboratories

Quest Diagnostics (NYSE: DGX), the world’s leading provider of diagnostic information services, announced Monday that it has completed its previously announced acquisition of the clinical laboratory services business of Boyce & Bynum Pathology Laboratories (BBPL), a leading provider of diagnostic and clinical laboratory services in the Midwest. Through a separate professional services agreement, Boyce and Bynum Pathology Professional Services, Inc. (BBPPS), is now the exclusive pathology provider for Quest Diagnostics clients in Missouri and a preferred pathology provider in the greater Midwestern region. Additional financial terms were not disclosed.

$785M in Debt, Diagnostics Provider Files for Bankruptcy

Bedside diagnostic health care provider TridentUSA filed for bankruptcy in New York Sunday with roughly $785 million in funded debt spread between a web of affiliated companies, citing a number of company-specific and industrywide difficulties and a proposed plan to swap debt for equity.

Shimadzu Medical Systems USA Acquires CORE Medical Imaging, Inc. to Strengthen Healthcare Business in North America

Shimadzu Medical Systems USA, a subsidiary of Shimadzu Corporation (hereinafter “Shimadzu”), in order to further expand its Healthcare Business in North America, has acquired CORE Medical Imaging, Inc. (hereinafter “CMI”). CMI, with its head office in Kenmore, WA, has successfully provided medical imaging products and service as an authorized dealer of several professional brands, such as Shimadzu, since the year 2000. CMI’s focus has been throughout the Northwest region of the U.S. and has established an excellent business reputation among its customers. In Shimadzu’s mid-term business strategy, its medical systems division aims to expand its business by further strengthening its position in the world’s largest medical market: the North American business. This acquisition is based on that key strategy.

QIAGEN Acquires N-of-One

QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) announced today it has entered into an agreement to acquire N-of-One, Inc., a privately-held U.S. molecular decision support company and pioneer in clinical interpretation services for complex genomic data. The addition of N-of-One will enable QIAGEN to significantly expand its decision-support solutions while offering a broader range of software, content and service-based solutions. It will also enable QIAGEN to provide customers with greater access to valuable genomic data assets and service offerings. N-of-One’s technology-enabled, yet human-driven, services and the proprietary MarkerMine’ database are planned to be integrated into QIAGEN Clinical Insight (QCI), enhancing this industry-leading clinical offering with medical interpretation and real-world evidence insights and offering robust decision support in oncology.

OraSure Technologies, Inc. Announces Two Acquisitions

OraSure Technologies, Inc. (NASDAQ: OSUR), a leader in point of care diagnostic tests and specimen collection and stabilization devices, today announced that it has entered into definitive agreements to acquire two companies. The transactions are expected to close within the next week. CoreBiome is a privately-held, Minnesota-based early-stage microbiome services provider that accelerates discovery for customers in the pharmaceutical, agricultural, and research communities. Novosanis is a privately-held, Belgian company founded as a spinoff company from the University of Antwerp, Belgium, in 2013. Novosanis is an early commercial-stage producer and distributor of urine sample collection devices targeted primarily at the liquid biopsy, Sexually Transmitted Infection (STI) screening, and urological cancer markets.