The biomolecular medical device company, InPath, LLC, forms the pivot in a complex business transaction between Bell National Corporation, headquartered in California, and newcomer Ampersand Medical Corporation, recently founded in Delaware to be based in Chicago. Specialized in point-of-care cytology systems, InPath has been subject to a strategic merger with Bell National, which in turn will merge with and into Ampersand Medical. All of Bell's shareholders will equally become shareholders of the Ampersand Medical Corporation as the surviving entity in this deal.
The newly started corporation, Ampersand Medical, will consist of a series of cytology diagnostic companies, such as InPath, all of which will be integrated as wholly-owned subsidiaries of Bell International. As a result, Ampersand not only acquires a substantial number of innovative diagnostic and therapeutic medical device manufacturers, but also gets the opportunity to invest in Bell's subsidiaries in order to enhance their future growth and development. Chairman and Chief Executive Officer of Bell National will be Peter Gombrich, present CEO of Ampersand Medical Group.
The recent negotiations between SAMBA Technologies, SARL, and the French company, Unilog, perfectly fit in with Ampersand's efforts to swiftly acquire the latter's existing SAMBA cytology/telemedicine business. In its capacity of newly incorporated Ampersand subsidiary, SAMBA already has reached an agreement in principle with Unilog to close the final deal by the end of 1998. In addition, both the AcCell Cytopathology product line and TracCell system, as developed by AccuMed International, are actively being purchased by Peter Gombrich.
The current interest of Ampersand Medical is concentrated on the advanced BPH 1000 system for the treatment of benign prostatic hyperplasia (BHP), as designed by Celsion, Inc. At present, this product is being tested in different clinical trials for the submission of a Pre-Market Approval application in the course of 1999. The system integrates a proprietary balloon catheter and is based on computer-controlled microwave technology to offer affordable care to patients suffering from BHP. In the United States, their number amounts to 7.2 million persons among the male population. Up till now, no positive agreement has been reached with Celsion's board of directors.
Please, consult the Ampersand-article in the VMW 1999 January issue for more news on the steady acquisition and purchasing strategies of this new and ambitious company.