A Medical Device Daily

PTS (Las Vegas) reported that it has signed a letter of intent to acquire Strategic Healthcare Systems (SHS; San Jose, California). The transaction is expected to close by May 31.

The terms of the acquisition call for SHS to transfer 88.33% ownership and controlling interests held by Albert Gomez, CEO and chairman of SHS to PTS in exchange for a promissory note in the amount of $3.5 million from PTS and 3.5 million shares of PTS Series E preferred stock to secure the note.

SHS was founded by Gomez in 1994, specifically to increase access to affordable quality healthcare for all Americans and immigrants. The company said it lowers healthcare costs by passing the savings gained from advances in medical science, diagnostic imaging and medical technology through to the consumer.

SHS has five clinics in California in Walnut Creek, Salinas, Manteca, San Francisco and San Jose.

Tm Bioscience (Toronto), a maker of genetic tests, reported that its shareholders and option-holders have approved the acquisition of the company by Luminex (Austin, Texas) at the company's special meeting.

Shareholders and optionholders representing more than 98% of all votes cast voted in favor of the transaction, first disclosed in December (Medical Device Daily, Dec. 18, 2006).

Each Tm Bioscience share will be exchanged for 0.06 shares of Luminex common stock. The per-share consideration represents a 41.5% premium for Tm shares, based on the closing price of a share of Tm common stock and Luminex common stock on Dec. 14, the last trading day prior to the announcement of the acquisition.

The approved merger will be submitted to the Ontario Superior Court of Justice for final court approval on or about Feb. 27, and the transaction is expected to close the following day.