Greatbatch acquisition strengthens design capabilities
This article was originally published in The Gray Sheet
Executive Summary
Implantable cardioverter defibrillator component maker Greatbatch will pay $11.4 million in cash to acquire Biomec in an effort to expand its device design and engineering services, the firm announces March 19. Cleveland, Ohio-based Biomec is developing a polymer coating that mimics the surface of endothelial cells of blood vessels. The coating, for use on medical devices ranging from catheters to blood pump circuits, is intended to reduce the risk of clotting, inflammation and infection. Greatbatch also assumes Biomec's minority ownership in IntElect Medical, which is developing a neurostimulation device for stroke and traumatic brain injury. The deal is expected to close shortly after a Biomec shareholder vote on April 3, according to a Greatbatch spokesperson...
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