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Corporate Report: May 24

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  • | 7:30 a.m. May 24, 2013
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Aerosonic signs merger deal to become TransDigm subsidiary
Cleveland-based TransDigm Group Inc. has reached a definitive merger agreement with Clearwater-based Aerosonic Corp. for it to become an indirect wholly owned subsidiary of TransDigm. TransDigm and Aerosonic both design, manufacture and supply aircraft components.

Under the terms of the agreement, TransDigm has offered to acquire all of the shares of Aerosonic for $7.75 per share for a total purchase price valued at $39 million. TransDigm says the purchase price will be paid through its cash on hand.

The merger agreement plan called for TransDigm to start buying shares on May 9. Aerosonic's board of directors previously approved the merger agreement.

Baker & Hostetler LLP is acting as legal adviser to TransDigm. Bluestone Capital Partners is acting as financial adviser and Hill Ward Henderson, PA is acting as legal adviser to Aerosonic.

BluePearl Veterinary Partners designated Veterinary Trauma Centers
Tampa's BluePearl Veterinary Partners specialty and emergency hospital has been recognized as one of the first nine animal hospitals in the nation to be provisionally designated as Veterinary Trauma Centers by the American College of Veterinary Emergency and Critical Care.

The designation is part of a new initiative created to improve the outcome of animal trauma cases.

Veterinary Trauma Centers covered under the designation offer the specialists and ability to provide care for a small animal trauma patient, from emergency stabilization through medical and surgical care, and rehabilitation on a 24/7 basis.

A subcommittee will work with the centers throughout the first year to ensure all the guidelines and requirements, which were generated by a multi-national group of veterinary critical care specialists, are being met.

Tech Data expands accessTD app to include Windows 8 devices
Clearwater technology distribution giant Tech Data Corp. has made its mobile application accessTD available from the Windows Store. The mobile sales platform application was previously only available for the big smartphone/mobile device operating systems: Android, Blackberry, iOS and Windows Phone. The new release opens the app up to retailers or resellers using Windows 8 devices.

The application allows users to search product pricing and availability, create and email quotes and quickly fulfill and monitor the status of technology orders, all from a mobile device.

UK-based Synergy Health makes Tampa Americas headquarters
Swindon, U.K.-based health care services company Synergy Health PLC has named Tampa its new corporate headquarters for the Americas. The company, which sterilizes and reprocesses medical devices, made news last year when it purchased Oldsmar-based SRI/Surgical Express for $28 million. Following that and two other U.S. acquisitions, it now has more 1,000 employees in the United States.

“We fell in love with Tampa Bay; it's an up-and-coming city and very similar to San Diego where we spent the past year with our team until finally deciding on Tampa as our new headquarters for the Americas,” company founder Dr. Richard Steeves says in a press release.

The headquarters also meshes with a strong new focus for Synergy Health increasing its market share among U.S. hospitals.

Steeves made a large commitment to the Tampa area, when he bought developer Joel Cantor's 8,500-square-foot Davis Islands mansion last year for $6.5 million.

The Florida Venture Forum names 5 to Venture Capital Conference
The Florida Venture Forum selected 18 Florida-based companies, including eight local companies, to present at its Early Stage Capital Conference at the Reunion Resort May 15 in Orlando.

The Gulf Coast Companies included Tampa-based financial software service company GSL Solutions Inc., St. Petersburg-based wireless medical device company Innovatia Medical Systems LLC, Osprey-based Web-based health care behavioral program Interactive Lifestyle Management LLC, Tampa social network business solution KiteDesk and the Naples-based interactive menu system Uptown Network.

All 18 companies made eight-minute presentations to an audience of venture capitalists, private equity investors, angel investors, investment bankers, financial intermediaries and entrepreneurs.

The Florida Venture Forum is Florida's oldest, largest and most prestigious statewide support group for venture capitalists and entrepreneurs.

HMA in Brevard, Florida Blue form accountable care agreement
Naples-based Health Management Associates Inc. and Florida Blue, Florida's Blue Cross and Blue Shield company, have agreed to form an accountable-care model in Brevard County.

Accountable-care models tie medical insurance payments more closely to the health improvements of a predetermined group of patients. Providers make more money when they meet quality metrics and when their patients use less health care.

This agreement includes HMA's physicians and its two hospitals in Brevard County: Wuesthoff Medical Center-Melbourne and Wuesthoff Medical Center-Rockledge.

Pat Geraghty, chairman and CEO of Florida Blue, says accountable-care models like this have the added advantage of reducing the fragmentation of care and provide incentives to increase care coordination, to improve patient outcomes, and to lower cost.

HMA, through its subsidiaries, operates 71 hospitals with 11,100 licensed beds.

Nuevo Advertising Group hired to market Gallagher & Hagopian
Nuevo Advertising Group of Sarasota has been made agency of record for the personal injury and accident law firm Gallagher & Hagopian PL. It will handle all of the firm's English- and Spanish-language marketing.

Created in 1995 as Czaia & Gallagher PA, the firm is one of Florida's prominent in this field, with total settlements of more than $150 million. Its partners, Kevin Gallagher and Gregory Hagopian, are both members of the Multi-Million Dollar Advocates Forum, which admits less than 1% of U.S. lawyers.


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