Vermed management buy-out gives CardioDynamics ICG (impedance cardiography) focus:
This article was originally published in Clinica
CardioDynamics (San Diego, California) has agreed to sell its disposable electrode subsidiary Vermed to the latter's management team for $8m in cash. The deal, which is expected to close in the fiscal third quarter ending August 31 2007, will enable CardioDynamics to focus on its proprietary impedance cardiography (ICG) business, which it believes holds higher growth potential. Subsequent to the sale, Vermed will supply CardioDynamics with the latter's ICG sensors under a five-year fixed price supplier agreement. Vermed houses 85 employees at its operating facilities in Bellows Fall, Vermont.