Bard lets Endologix option expire:
This article was originally published in Clinica
Bard has chosen not to exercise its option to acquire the remaining capital stock in Endologix, but will continue as exclusive distributor for the company in Europe and Australia. Irvine, California-based Endologix has developed an endoluminal graft for the treatment of abdominal aortic aneurysms. "While the Endologix AAA device continues to show promise, considerable time and expense will still be necessary to develop this market," said William Longfield, Bard's CEO. "We do not believe this opportunity warrants the significant investment required under the option agreement," he added.