Healthcare specialist Westhouse Medical Services is in negotiations for the acquisition of a majority control of US listed Sunridge International. Sunridge’s subsidiary, Ophthalmic International Inc, has developed a glaucoma procedure called PNT, which could revolutionise the way glaucoma is treated globally.
Westhouse Medical Services, listed on the Open Standard Section of the Frankfurt Stock Exchange, is aggressively implementing its expansion plans, and this acquisition will further build its medical devices subsidiary.
The majority control will also provide Westhouse Medical Services with access to the US markets for its BreastCheck product, which is patented and FDA approved. Currently Westhouse’s medical devices subsidiary is in the process of bringing BreastCheck to market, a new non-invasive, self-administered breast cancer screening device. BreastCheck is due for launch Summer 2012.
As part of this acquisition, Westhouse aims to market PNT, the only non-invasive, non-pharmaceutical approach that has been clinically proven to reduce elevated intra-ocular pressure (IOP) in patients with primary open angle Glaucoma (POAG), as well as ocular hypertension (OH). POAG represents 95 per cent of diagnosed cases of glaucoma in Europe, the Americas and Africa.
PNT reduces the fluid pressure in the eye, decreasing or eliminating the need for drug therapy in a significant proportion of patients.
“As a company, we aim to create value for our investors, healthcare providers, and patients by increasing the effectiveness, efficiency and quality of primary healthcare,” says Jack Kaye, chief executive for Westhouse Medical Services. “This acquisition will enable Westhouse Medical Services to drive a step change in the treatment for over 67 million glaucoma sufferers worldwide, whilst helping to deliver a reduction in overall therapy costs.”
Westhouse Medical consists of two divisions – Devices and Services. This will be the second acquisition by Westhouse’s medical devices division, following the purchase of US and UK patents for the Profemme breast cancer screening technology from the Battlebridge Group Limited in November 2011. Westhouse’s other subsidiary, medical services, provides specialist transport and ambulance services for the NHS in the UK.
