ABIOMED acquires Impella CardioSystems

Published: 13-May-2005

ABIOMED, a manufacturer of products for circulatory care and support, has completed its acquisition of Impella CardioSystems, a privately held company based in Aachen, Germany.


ABIOMED, a manufacturer of products for circulatory care and support, has completed its acquisition of Impella CardioSystems, a privately held company based in Aachen, Germany.

The company take control of all of the outstanding capital stock of Impella for approximately 4.04m shares of ABIOMED common stock and approximately $1.8m in cash. As previously announced, additional contingent payments of up to $29m may also be made to Impella shareholders based on stock price performance, unit sales and FDA approval milestones.

BIOMED is a leading developer, manufacturer and marketer of medical products designed to assist or replace the pumping function of the failing heart. It is currently pursuing initial FDA market approval for the AbioCor Implantable Replacement Heart under a Humanitarian Device Exemption to treat a defined subset of irreversible end-stage heart failure patients.

Impella develops, manufactures and markets minimally invasive cardiovascular support systems for numerous indications in the fields of cardiology and coronary surgery. The company's technology is protected by more than 20 European and international patents.

  

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