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Editorial Results (free)

1. Medical Metrics -

A provision of the Affordable Care Act that ties patient satisfaction to reimbursement has been a boon for medical device maker Christie Medical Holdings Inc.

2. Local Firms Part of Asian Trade Mission -

Three Memphis area companies are among 11 businesses chosen by the Tennessee Department of Economic and Community Development (ECD) to participate next week in a medical trade mission focused on expanding their businesses into China and South Korea.

3. Christie Medical Announces VeinViewer Study Results -

Memphis-based Christie Medical Holdings Inc. recently announced results from its study on the VeinViewer Vision device’s TrueView imaging.

4. VeinViewer Evaluated in Peer-Reviewed Journal -

The findings of the first peer review of a vein-viewing device manufactured by Memphis-based Christie Medical Holdings Inc. reports the device improves vascular success and is well-received by patients and staff.

5. Trade Excellence Award Winners Named -

Tennessee Gov. Phil Bredesen and Economic and Community Development Commissioner Matt Kisber have announced that Jarden Zinc Products LLC in Greeneville, DuPont Tate & Lyle BioProducts Co. LLC in Loudon and Christie Medical Holdings Inc. in Memphis are recipients of the fourth annual Governor’s Awards for Trade Excellence (GATE).

6. Christie Medical Turns Reshuffle Into Fundraiser -

Christie Medical Holdings Inc. found opportunity in a recent renovation to raise money for Ronald McDonald House Charities of Memphis.

7. Christie Medical Debuts New VeinViewer -

Christie Medical Holdings Inc. has updated the vascular imaging device it acquired from Luminetx Corp. with the VeinViewer Vision, a more compact model that has a broader range of options.

8. Alliance Medical To Distribute VeinViewer -

Memphis-based Luminetx, a subsidiary of Christie Medical Holdings Inc., has reached a national sales distribution agreement for its VeinViewer product with New Alliance of Independent Medical Distributors Inc.

9. Medical Imaging Makes Gains In Memphis -

Medical imaging is a fast-growing component of the health care industry, but one that has been slow to take root in Memphis.

That could be changing. SurgiVision Inc., which has quietly been filing new patents for MRI technology and attracting millions of dollars from research partners, is about to go public.

10. Christie to Keep VeinViewer Operations in Memphis -

Christie Digital Systems, the new owner of the VeinViewer technology, will keep jobs associated with the medical imaging device in Memphis, company officials said Wednesday.

Christie announced it had acquired “substantially all the assets” of Luminetx Corp. and will create a new medical products business called Christie Medical Holdings Inc. Luminetx shareholders approved the acquisition last month.

11. Christie to Keep VeinViewer Operations in Memphis -

Christie Digital Systems, the new owner of the VeinViewer technology, will keep jobs associated with the medical imaging device in Memphis, company officials said today.

Christie announced it had acquired “substantially all the assets” of Luminetx Corp. and will create a new medical products business called Christie Medical Holdings Inc. Luminetx shareholders approved the acquisition last month.

George Pinho, previously the company’s senior director for business product development, is now the president of Christie Medical.

Pinho is in Memphis this week but will oversee operations here from the Christie Digital Systems Canada Inc. headquarters in Kitchener, Ontario. The company also has a U.S. headquarters in Cypress, Calif.

“We’re excited by the potential of this acquisition,” Pinho said. “Christie’s goal is to diversify into emerging markets and we saw a unique opportunity to enter the medical imaging industry.”

The VeinViewer allows medical practitioners to easily see subcutaneous veins by projecting a real time image of their location onto the surface of the skin. Christie, a global visual technologies company that is a wholly owned subsidiary of Ushio Inc. of Japan, has expertise in projectors and visual technologies used for entertainment and educational purposes.

Medical imaging will be a new product line for the company.

“Our combined teams will create exciting growth opportunities through our collective capabilities and complementary technologies,” Pinho said.

Although the headquarters for the newly created Christie Medical Holdings Inc. will not be in Memphis, that does not mean jobs will be moved from here, said Dorina Belu, senior manager of media and communications for Christie.

“There is no change to the service, support and distribution of the VeinViewer business,” Belu said. “Customers are going to get the continued service, support, distribution and all of that, which began in Memphis. There is no change to that at all.”

Luminetx employed less than 100 people in Memphis.

Herb Zeman, a now retired professor from the University of Tennessee Health Science Center, invented the VeinViewer technology and founded Luminetx. The technology was heralded as one of “the Most Amazing Inventions of 2004” in Time magazine.

But the company was hurt by management turnover, boardroom conflicts, the downfall of one of its major investors, Stanford Financial Group, and legal fights with a new competitor.

Luminetx was running out of operating cash and was losing money when shareholders approved its acquisition. Christie, which had already loaned Luminetx $1.5 million, paid $15 million for the company and forgave the loan.

It did not acquire all of Luminetx’s patented technologies. Luminetx shareholders retained the company’s Snowflake Technologies Corp. subsidiary, which is developing a biometric identification product.

Luminetx last month terminated the employment of Richard Kindberg, who had been the company’s chief executive officer for nine months, when the board of directors voted in favor of the acquisition. Kindberg has filed suit against the company because of his dismissal.

Chris Schnee, who took over as interim chief executive officer, will remain on board with Christie Medical Holdings Inc. He will serve as general manager and vice president of sales and marketing.

Schnee said new opportunities arise with the new ownership.

“Christie’s extensive history and expertise in visual displays will offer exciting opportunities and applications for the VeinViewer technology platform,” Schnee said. “Christie’s global presence and world-class manufacturing and engineering know-how in visual display technology will enable us to expand our products into multiple new markets and to continue advancements in bettering patient care the world over. We look forward to finding new and better ways to improve health care delivery.”

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12. Medical Implant MakersMake Deals with Feds -      Five makers of medical device implants have reached a $310 million agreement to resolve concerns over doctor kickbacks, federal prosecutors said Thursday.
     The agreements were made by Bio