Financings in Brief: Ballard Medical Products
This article was originally published in The Gray Sheet
Executive Summary
Ballard Medical Products: Draper, Utah-based disposable hospital products manufacturer enters an agreement to pay $2 mil. for a 19.5% preferred equity stake in Neuro Navigational Corporation. Costa Mesa, California-based NNC, which had 1994 sales of $881,000, markets disposable microendoscopes with fiberoptic imaging capability for use in minimally invasive brain surgery. The firm also is developing products for vascular surgery. Under the deal, Ballard gains a two-year option to acquire all of the assets of NNC. Ballard says its investment in NNC will diversify its technology base and offer "the potential for Ballard to be the market leader in the rapidly growing minimally invasive segments of neurosurgery and vascular surgery"...