Civco acquires maker of positioning devices

Medical instruments provider Civco has completed the acquisition of Barzell-Whitmore Maroon Bells, a designer and manufacturer of specialized positioning and stabilizing devices used in image-guided minimally invasive surgery. The subsidiary of Colorado MedTech made the purchase with 127,000 shares of MedTech stock and $2 million in cash at closing. An additional $2.2 million will be paid if certain performance standards are met. Annualized revenues associated with the acquisition are expected to be about $2 million. Barzell-Whitmore's devices are used in evaluation of colorectal disease and the treatment of prostate cancer. Expected future applications will involve laparoscopic surgery and the treatment of benign prostate hyperplasia. The acquisition will expand the portfolio of Civco products used to perform image-guided procedures.