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Safeguard Scientifics: McKesson To Buy Portico Systems For $90 Million

DOW JONES NEWSWIRES Safeguard Scientifics Inc. (SFE) said technology partner Portico Systems Inc. will be acquired by McKesson Corp. (MCK) for $90 million in cash. Safeguard, which provides growth capital for life sciences and technology companies, expects to receive proceeds of $38 million, a return of four times its investment in Portico, a provider of management software for the health insurance industry. The deal, expected to close in the third quarter, is Safeguard's fourth substantial exit in the past six months. In December, GE Healthcare bought Clarient for $587 million, while Eli Lilly & Co. (LLY) acquired Avid Radiopharmaceuticals. Shire PLC (SHP.LN) agreed in May to buy regenerative drug maker Advanced BioHealing Inc. for $750 million cash. Shares closed at $18.80 Tuesday and were inactive premarket. The stock has risen 10% so far this year. -By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com

Stock News for Safeguard Scientific (SFE)
DateTimeHeadline
11/15/201307:07:30Two Sigma Investments 3Q 13F: Largest Eliminations
11/15/201307:07:27Two Sigma Investments 3Q 13F: Largest Sales
11/15/201307:07:27Two Sigma Investments 3Q 13F: Largest Purchases
11/15/201307:07:27Two Sigma Investments 3Q 13F: Largest Eliminations -2-
06/22/201109:41:37Safeguard Scientifics: McKesson To Buy Portico Systems For $90...

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