A Medical Device Daily

Royce Biomedical (Corte Madera, California) reported acquiring Smart-Tek Communications (SCI; Richmond, British Columbia), a developer of integrated security and communication systems. Terms of the acquisition were not disclosed.

Donald Gee, CEO of Royce, said, “The completion of the acquisition of SCI will now allow Royce to implement its revised business plan geared towards security, surveillance and related industry sectors. In due course, Royce will change its name to more accurately reflect the new business strategy. We look forward to leveraging SCI and Royce by sourcing and potentially acquiring additional complementary businesses in the future.”

SCI clients include 911 emergency call centers, municipal and federal law enforcement agencies, municipalities, utilities, airports, property developers and general contractors both national and international.

Royce was incorporated in Nevada in March l995, and prior to April 1999, it manufactured diagnostic test kits used to detect pregnancy, thyroid disorders and other medical conditions.

Concurrent with the appointment of a new board of directors and executive management team in December 2004, the company undertook a comprehensive review of its business model and initiated what it termed an “aggressive plan” to seek merger or acquisition candidates to not only expand or diversify its existing line of business, but also to provide sufficient cash flows to accelerate its growth strategy during the next several years.

QMed (Eatontown, New Jersey) has acquired Health E Monitoring, a privately owned firm with a highly interactive wellness and health management program designed for those individuals with obesity, metabolic syndrome and their associated co-morbidities.

The company, which will become a wholly owned subsidiary of QMed, was purchased for $1 million, a portion of which is tied to a 2006 performance schedule.

Randall Burt, founder and CEO of Health E Monitoring, will serve as president of the new subsidiary.

“Employers are increasingly interested in wellness offerings and systems that will help manage employee populations that are struggling to establish and maintain a healthy lifestyle,” said Michael Cox, QMed president and CEO. “[Health E Monitoring’s] sophisticated use of technology, telephony, web content, access and user ease surrounding its weight management program is potently geared to user retention and long-term weight goal management, and as such is a powerful addition to our existing offerings.”