A Medical Device Daily

Aragon Surgical (Palo Alto, California) a venture-backed surgical device start-up, reported that it has acquired VeriSure (also Palo Alto, California). Financial terms were not disclosed.

Aragon said the acquisition provides it with the LapCap, the first of a new category of laparoscopic-enabling products, the PCAD (Pneumoperitoneum Creation Assist Device). The LapCap is designed to allow a surgeon to more easily and predictably pass a Veress needle into the peritoneal cavity in order to create a pneumoperitoneum — the gas-filled space in which the surgeon operates.

The LapCap has received FDA clearance based upon the demonstration of device safety and efficacy in a U.S. clinical trial. The company said that the device will be commercially available to U.S. surgeons within 10 months.

"Having performed numerous laparoscopic operations myself, I have no doubt that the LapCap will be of great benefit to my colleagues at the start of their laparoscopic procedures," said Peter Edelstein, MD, president/CEO of Aragon and a surgeon.

Utilizing vacuum, in only four to eight seconds the LapCap is designed to safely elevate a portion of abdominal wall up and away from the underlying intestines and blood vessels, creating a pathway for blind Veress needle passage. Currently, the surgeon — often assisted by a nurse — must forcefully lift the abdominal wall using penetrating clamps while simultaneously attempting to safely pass the 12cm Veress needle blindly into the abdomen.

The LapCap allows the surgeon alone to elevate the abdominal wall away from the underlying critical anatomic structures before or during Veress needle passage, reducing the surgeon's anxiety over this initial blind maneuver.

"The LapCap will appeal to my surgical colleagues in several specialties," Edelstein said, adding that laparoscopic gynecologists, general surgeons, bariatric surgeons, colon and rectal surgeons, and urologists will create a pneumoperitoneum about 2.4 million times this year in the U.S.

Aragon — founded in 2005 with investments from Delphi Ventures and Onset Ventures — is developing a variety of surgical instruments intended to reduce operative time and improve patient safety.

CardioNet (San Diego) a provider of wireless mobile cardiac outpatient monitoring solutions, reported that it completed its previously disclosed acquisition of PDSHeart (West Palm Beach, Florida), a cardiac event monitoring company (Medical Device Daily, Feb. 7, 2007). Terms were not disclosed.

With the merger, CardioNet said it is now the largest U.S. company providing wireless, remote outpatient cardiac monitoring, event, Holter and pacer services.

PDSHeart will operate as a CardioNet subsidiary, with corporate offices in West Palm Beach, Florida. The combined company has monitoring centers in Pennsylvania, Minnesota, Florida and Georgia.

In other dealmaking news:

• Radiation Therapy Services (RTS; Fort Myers, Florida), an operator of radiation therapy centers, said it has acquired a single radiation therapy treatment center in Casa Grande, Arizona, operated by Desert Rose Oncology (Phoenix) for about $8 million.

RTS said the acquisition builds on its presence in the central Arizona local market, which the company entered in June of 2005 by acquiring a facility in Scottsdale, Arizona.

The facility currently has an Intensity Modulated Radiation Therapy (IMRT) program and treats about 25 patients per day.

The company said the acquisition was financed by its existing revolving credit facility and that it did not assume any debt in the transaction.

• NNN Healthcare/Office REIT (Santa Ana, California) reported acquiring the Gallery Professional Building in St. Paul, Minnesota, an eight-story medical office building totaling more than 105,000 square feet of leaseable area in the city's Central Business District and connected by skyway to St. Joseph's Hospital.

The building is about 68% leased to 14 tenants, including Summit Orthopedics, Medical Associates of Minnesota and Health East Research Institute.

NNN Realty Advisors, the sponsor of NNN Healthcare/Office REIT, is a commercial real estate asset management and services firm.