In Brief: Medtronic/EchoCath
This article was originally published in The Gray Sheet
Executive SummaryMedtronic/EchoCath: Firms' second licensing agreement gives Medtronic exclusive rights to employ EchoCath's EchoMark and ColorMark technologies for guiding Medtronic's Grinfield cannula aortic clamp, as well as a six-month period to evaluate future licensing of EchoCath's EchoFlow and EchoEye cardiovascular technologies. In exchange, Medtronic pays a total of $1.8 mil. -- representing licensing fees and the acquisition of $1 mil. in restricted shares of EchoCath Class A common stock. EchoMark and ColorMark aid guidance of cardiovascular devices, such as cannulas, by using existing ultrasound equipment, eliminating the need for x-ray confirmation of device positioning, EchoCath says. The firms' first alliance was formed in December 1996 to develop an ultrasound-guided heart pacemaker lead implantation system...
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