U.S. Surgical sees double-digit growth for Valleylab; Pfizer unit acquired for $425 mil. in cash.
This article was originally published in The Gray Sheet
Executive Summary
USSC EXPANDING ULTRASONIC PRESENCE WITH $425 MIL. PURCHASE OF VALLEYLAB from Pfizer, strengthening U.S. Surgical Corp.'s position in a rapidly growing segment of the surgical products market. During a Dec. 9 teleconference announcing the acquisition, USSC Chairman Leon Hirsch commented that while ultrasonics currently account for a small portion of Valleylab's product offerings, they are "likely to grow a lot faster" than the firm's core business.