Healthcare Industry News: vascular closure
News Release - February 27, 2007
Datascope Announces Sale of ProGuide(TM) Chronic Dialysis Catheter
Begins Previously Announced Exit From Interventional Products BusinessMONTVALE, NJ--(Healthcare Sales & Marketing Network)--Feb 27, 2007 -- Datascope Corp. (NasdaqGS:DSCP ) announced today that it has completed the sale of its ProGuide(TM) chronic dialysis catheter and the associated assets to Merit Medical Systems, Inc. of South Jordan, Utah for $3 million plus a royalty on future sales of the ProGuide catheter. ProGuide is the first in the portfolio of products of the Company's Interventional Products Division (IP) to be sold as part of the divestiture of IP products announced in October 2006.
The remaining IP product portfolio includes Datascope's vascular closure devices, VasoSeal®, On-Site(TM) and X-Site®. The Company has engaged the investment banking firm of Piper Jaffray & Co. as financial advisor for the sale of these products. Datascope is also exploring opportunities for the sale or independent distribution of its ProLumen(TM) thrombectomy device for the interventional radiology market. Datascope believes it will complete the divestiture of the IP products by the end of fiscal 2007.
About Datascope Corp.
Datascope Corp. is the global leader of intra-aortic balloon counterpulsation and a diversified medical device company that develops, manufactures and markets proprietary products for clinical health care markets in interventional cardiology and radiology, cardiovascular and vascular surgery, anesthesiology, emergency medicine and critical care. The Company has four product lines aggregated into two reporting segments, Cardiac Assist / Monitoring Products and Interventional Products / Vascular Grafts. The Company's products are sold throughout the world through direct sales representatives and independent distributors. Founded in 1964, Datascope is headquartered in Montvale, New Jersey. For news releases, webcasts and other Company information please visit Datascope's website, www.datascope.com.
This press release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements. Many of these risks cannot be predicted or quantified and are at least partly outside our control, including the risk that the Company will not complete the divestiture of the IP products by the end of fiscal 2007, as well as other risks detailed in documents filed by Datascope with the Securities and Exchange Commission.
Source: Datascope
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