Abiomed bids to buy out partnership:
This article was originally published in Clinica
Abiomed has offered to pay $10,000 per unit for each of the 135 outstanding units of the Abiomed Limited Partnership. If accepted, the offer will reduce or eliminate the company's royalty obligations on sales of its BVS-5000 and SupraCor temporary cardiac support systems. The original annual royalty of 5.5% on product revenues has already been reduced to 4.9% through a 10.9% ownership in the limited partnership. The limited partners have until July 25th, 1995, to accept the offer.