This article was originally published in The Gray Sheet
Stock swap acquisition of heart and lung disease diagnostic equipment maker Medical Graphics by Angeion is valued at approximately $16.3 mil. Minneapolis-based Angeion will acquire all outstanding shares of Medical Graphics for $2.15 per share under an agreement announced Sept. 23. The merger stems from Angeion's effort since December 1998 to explore strategic alternatives to provide greater shareholder value, including decreasing its presence in the implantable cardioverter defibrillator market. Medical Graphics generated revenues of $20 mil. in 1998 and has 120 employees. President and CEO Richard Jahnke will assume the same titles at Angeion after the merger, and current Angeion President and CEO James Hickey will remain a director. The deal is anticipated to close by year-end
You may also be interested in...
Public Company Edition: Lixte’s small uplisting was the only biopharma initial public offering in the US during Thanksgiving week, but IPOs are ramping up again. Also, LifeSci launched its second SPAC and in follow-on offerings Reata brought in $281m and Intellia grossed $175m.
Orladeyo is the first oral prophylactic approved in the US for hereditary angioedema, with Japan and EU approvals expected to follow. Pricing of $485,000 a year undercuts segment leader.
Results of Study to Assess Statin Residual Risk with Epanova in High Cardiovascular Risk Patients with Hypertriglyceridemia “should prompt reconsideration of [OTC] mixed omega-3 fatty acid products for [atherosclerotic cardiovascular disease] prevention,” say cardiologists in an editorial published with JAMA study.