Healthcare Industry News: Cytomedix
News Release - April 12, 2010
Sorin Group Sells Angel Whole Blood Separation System and activAT(R) Autologous Thrombin Processing Kit to CytomedixDeal allows divestiture of non-core business
MILAN, Italy--(HSMN NewsFeed)--Sorin Group, (MIL:SRN), a global company and a leader in the treatment of cardiovascular diseases, announced today that it has completed the sale, for $7 million (€5.25 million) in cash paid in installments over two and a half years, of the Angel® Whole Blood Separation System (“Angel™”) and activAT® Autologous Thrombin Processing Kit (“activAT®”) product lines to Cytomedix, Inc. (NYSE Amex: GTF), a leading developer of biologically active regenerative therapies for wound care, inflammation and angiogenesis. Together these products had sales of approximately $5 million (€3.75 million) in 2009.
Angel™ consists of a blood processing device and disposable products used for separation of whole blood into red cells, platelet poor plasma and platelet rich plasma (“PRP”); activAT® is designed to produce autologous thrombin serum from platelet poor plasma, providing a completely autologous, safe alternative to bovine-derived products.
“We are pleased to enter into an agreement to sell these non-core assets to Cytomedix, and we count on Cytomedix to maintain the same high level of customer service, support and product excellence that our customers have come to expect from Sorin”, said Michel Darnaud, President, Cardiopulmonary Business Unit.
The guidance previously provided to the market remains unchanged as a result of this transaction.
About Sorin Group
Sorin Group (www.sorin.com) is a global, medical device company and a leader in the treatment of cardiovascular diseases. The Company develops, manufactures and markets medical technologies for cardiac surgery and for the treatment of cardiac rhythm disorders. With 3,600 employees worldwide, the Group focuses on three major therapeutic areas that include: cardiopulmonary bypass (extracorporeal circulation and autotransfusion systems), cardiac rhythm management, and heart valve repair and replacement. Every year, over 1 million patients are treated with Sorin Group devices in more than 80 countries.
For more information, please visit: www.sorin.com.
Source: Sorin Group
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