Life Medical Technologies Inc. has completed the acquisition of four medical manufacturing and distribution companies, each with patented products cleared by the Food and Drug Administration for use in the operating room, anesthesia and critical-care markets.
The acquired companies are Omega Fiberoptic Technologies, London, a company manufacturing flexible microendoscopes; Omega Laser Systems, London, a company manufacturing hand-held therapeutic laser systems; Innovative Medical Development Corp., 3643 W. 1987 South, a company manufacturing two products sold in the home health-care field; and RidgeWay Medical Enterprises Inc., 3649 W. 1987 South, which distributes medical products outside the United States.Company officials also announced that as part of the acquisition plan, an initial private placement has been successfully closed and is currently offering an additional round of funding, bringing the total to $1.3 million for manufacturing and marketing.
Also, the company has, after 21/2 years of communication with the FDA, received clearance to market its initial product in the SafeSharp Disposal System, a one-handed, fully automated, closed needle removal system.