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In Brief: U.S. Surgical/EndoTex

This article was originally published in The Gray Sheet

Executive Summary

U.S. Surgical/EndoTex: Agreement gives USSC a 90-day option to acquire EndoTex Interventional Systems' technology relating to covered stent, stent graft and "related delivery system technology" for abdominal aortic aneurysms (AAA) and AV fistula applications, USSC says. Following due diligence by USSC, the firm will either "consummate the transaction or convert its initial payment into an equity investment," at the end of the 90-day period. Menlo Park, California-base EndoTex expects to begin clinical trials in the third quarter "in conjunction" with USSC, evaluating the covered stent in AAA and aneurysm repair...

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