Shelton-based iMedX Inc. acquired MedTech Transcriptions Inc., a medical transcription company serving medical clinics in Louisiana, a new market for iMedX.
“With the growth of federal government requirements for technology in healthcare, many small transcription companies are realizing they lack the resources to keep pace,” said Venkat Sharma, CEO of iMedX, in a prepared statement. “As the Obama administration’s ”˜meaningful use”™ guidelines continue to evolve, it is imperative to use the online delivery and portability of medical documentation that iMedX provides … iMedX intends to grow into a major force in the clinical documentation software and services industry.”
Penwest Pharmaceuticals Co.
Former Danbury company Penwest Pharmaceuticals Co. is being acquired by Endo Pharmaceuticals Holdings Inc., with the two companies already collaborators on Penwest”™s mainstay Opana ER drug.
In an office consolidation last year, Penwest moved its headquarters from Danbury to its product development lab in Putnam County, N.Y. Endo is based in Chadd”™s Ford, Pa.
At Endo”™s offering price of $5 a share, a 47 percent premium over the average price of Penwest shares the previous month, the transaction is valued at $168 million.
Opana is administered to patients a day after surgery to relieve ongoing pain. In the second quarter, Penwest had an $8.3 million profit on $13.6 million.
During the quarter, Penwest settled patent litigation with Impax Laboratories Inc. and two other companies, granting Hayward, Calif.-based Impax a license to begin selling a generic version of Opana ER in 2013.
