US Surgical takes up products option:
This article was originally published in Clinica
United States Surgical is to exercise its option to buy American BioMed's stents, atherectomy catheters and toposcopic catheters plus related intellectual property rights. The price will be $12 million, in addition to the $2 million US Surgical paid for the 90-day option last month (see Clinica No 654, p 14). American BioMed will retain the catheter, heart assist pump, spinal dissector and other businesses owned by its CathLab subsidiary. The company has also stated that an unnamed third party, which originally indicated it would top the offer price, has pulled out negotiations.