Sulzer Medica acquires IntraTherapeutics for $145 million
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Sulzer Medica (Winterthur, Switzerland) has agreed to acquire St. Paul, MN-based IntraTherapeutics Inc. for $145 million in cash. IntraTherapeutics is a privately owned company that manufactures peripheral stents.
The closing of the acquisition is subject to the approval of IntraTherapeutics' shareholders and U.S. regulatory approval, both of which are expected by March 2001, according to a Sulzer Medica release.
IntraTherapeutics' line of products includes balloon-expandable non-coil stents or self-expandable coil and non-coil stents. The company will remain a stand-alone entity within Sulzer Medica, reporting to Terry Marlatt, president of the Cardiovascular Division.
"Entering the peripheral stent market is an important step in our strategy to expand our core activities and, in particular, to further strengthen our highly profitable cardiovascular business," Andre P. Buchel, CEO of Sulzer Medica, said in a statement. "We are excited to develop our technology platform beyond heart valves and vascular grafts and to add on the experienced and proven management team of IntraTherapeutics."
Sulzer Medica manufactures implantable medical devices and biological products for cardiovascular and orthopedic markets.
With contribution from Ursula Jones
Managing Editor, Medical Design Online
ujones@medicaldesignonline.com