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In Brief: Atrion

This article was originally published in The Gray Sheet

Executive Summary

Atrion: Diversified medical products manufacturer plans to acquire for $24.5 mil. cash certain assets related to the cardiovascular and specialized intravenous fluid delivery product lines of Quest Medical under a definitive agreement announced Dec. 30. Products to be acquired include a myocardial protection system for cardioplegia delivery during open-heart surgery; specialized pressure control valves; pre-bypass and arterial line filters; bubble traps used by perfusionists during cardiopulmonary bypass surgery; and over 50 intravenous fluid delivery products. The devices would add about $14.5 mil. in annual sales to Atrion's current revenues of about $30 mil. per year. Under the terms of the deal, Atrion will lease for one year Quest's Allen, Texas manufacturing facility and will have an option to buy the facility for an additional $6.5 mil. The acquisition, which has been approved by the boards of directors of both companies, is anticipated to be completed in late January...

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