In a move joining two manufacturing and distribution partners in Europe and the U.S., Sweden-based Jomed International announced a merger agreement with EndoSonics, based in Rancho Cordova, CA.EndoSonics is a developer of intravascular ultrasound (IVUS)
In a move joining two manufacturing and distribution partners in Europe and the U.S., Sweden-based Jomed International announced a merger agreement with EndoSonics, based in Rancho Cordova, CA.
EndoSonics is a developer of intravascular ultrasound (IVUS) imaging devices, angioplasty catheters, and functional assessment products to assist in the diagnosis and treatment of cardiovascular and peripheral vascular disease.
Jomed will acquire all of EndoSonics outstanding stock at $11 a share, or $205 million. The boards of both companies have approved the transaction. EndoSonics had sales of $48 million in 40 countries in 1999. After the merger, the new company will have about 1000 employees and combined annual sales of about $99 million.
Jomed manufactures stents for interventional cardiology, with a range of over 600 products. The two companies signed an agreement two years ago (SCAN, 10/28/98) to jointly develop an intravascular ultrasound-guided stent delivery system. The merger gives Jomed access to an established U.S. sales force.
Jomed has been a European distributor for EndoSonics, and sales in that market have been disappointing (SCAN, 10/13/99), leading to EndoSonics terminating one of their distribution agreements. Jomed has continued as EndoSonics distributor in smaller European markets.
Reinhard Warnking, EndoSonics CEO, described the acquisition as a merger of companies with similar visions that are dedicated to improving clinical outcomes by creating a unique IVUS-guided therapeutic system.
MRI-Based AI Radiomics Model Offers 'Robust' Prediction of Perineural Invasion in Prostate Cancer
July 26th 2024A model that combines MRI-based deep learning radiomics and clinical factors demonstrated an 84.8 percent ROC AUC and a 92.6 percent precision-recall AUC for predicting perineural invasion in prostate cancer cases.
Breast MRI Study Examines Common Factors with False Negatives and False Positives
July 24th 2024The absence of ipsilateral breast hypervascularity is three times more likely to be associated with false-negative findings on breast MRI and non-mass enhancement lesions have a 4.5-fold likelihood of being linked to false-positive results, according to new research.
Can Polyenergetic Reconstruction Help Resolve Streak Artifacts in Photon Counting CT?
July 22nd 2024New research looking at photon-counting computed tomography (PCCT) demonstrated significantly reduced variation and tracheal air density attenuation with polyenergetic reconstruction in contrast to monoenergetic reconstruction on chest CT.