Thermo Cardiosystems, ITC merging to form cardiac support/blood management unit.
This article was originally published in The Gray Sheet
THERMO CARDIOSYSTEMS' $75 MIL. ACQUISITION OF INTERNATIONAL TECHNIDYNE expands the cardiac support device manufacturer's business into blood management. Thermo Cardiosystems announced March 31 that it plans to issue approximately 3.4 mil. shares of its stock, which closed on March 27 at 20-3/4, for all outstanding shares of ITC. If finalized, the deal would join two Thermo Electron subsidiaries to form a company with roughly $65 mil. in annual revenue.
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