Angeion's purchase of Medical Graphics threatened:
This article was originally published in Clinica
Executive Summary
Bondholders have launched a suit against ICD company Angeion that could hold up the company's acquisition of diagnostics firm Medical Graphics (see Clinica No 877, p 9). The suit alleges that Angeion violated a bondholders' guarantee when it settled litigation claims with Guidant earlier this year (see Clinica No 859, p 13) and requests that the Medical Graphics acquisition be prohibited. If the bondholders are successful Angeion could be forced to pay them more than $20 million. Angeion says it will vigorously defend its actions.