ClearCount Medical Solutions, Inc.

 Company Summary:
  • ClearCount Medical Solutions offers patient safety solutions, including the SmartSponge System, a closed-loop sponge count reconciliation and detection solution, as well as the SmartWand-DTX, a radiofrequency identification-detection solution.
Transaction Overview:
  • On 31 December, 2013, ClearCount Medical Solutions and Patient Safety Technologies entered into a Patent Purchase and License Agreement pursuant to which ClearCount will sell and assign certain of its patents and license in exchange for an aggregate payment by the company.
Significance of the Transaction:
  • Resolved previous legal dispute regarding infringement of sales.
  • Following the resolved litigation issue, Patient Safety Technologies announced a definitive agreement with Stryker to be acquired for a total transaction value of approximately $120 million.
Healthios Role:
  • Healthios served as an strategic exclusive adviser to ClearCount Medical.
  • This transaction highlights Healthios continued leadership as the "advisor of choice" to complete complex transactions based on shareholder interests.