Wednesday, February 2, 2011
Patrick Soon-Shiong Buys Vitality Corp.
Patrick Soon-Shiong, the Los Angeles area biotech billionaire, has acquired Vitality Corp., a Cambridge, Massachusetts maker of "smart pills." Financial terms of the acquisition were not disclosed. According to Vitality, the acquisition will enable the company to expand its product line. Vitality makes the "GlowCaps", which light up, play a melody, and ring a home phone to remind users to take their medication. Vitality said it will continue to operate from Cambridge, but will also hire additional people. The firm also has teams in Los Angeles, San Diego, and Toronto.