HUDSON, N.H., Oct. 3, 2011 /PRNewswire/ -- Atrium Medical Corporation, announced today that it has signed a definitive agreement to be acquired by GETINGE GROUP (STO: GETIB) of Sweden and its subsidiary, MAQUET Cardiovascular, a global leading provider of cardiovascular technologies for $680 million. Atrium is a leader in medical device technologies for interventional cardiology and radiology, chest trauma care and thoracic drainage, vascular surgery, and general surgery. Atrium will operate as an independent, self-contained business unit of MAQUET Cardiovascular and will continue to be led by current Atrium President, Trevor Carlton.
"MAQUET Cardiovascular's heritage and global leadership in the interventional cardiology, vascular surgery and cardiopulmonary space provides us the resources necessary to continue to grow our business and better serve our customers around the world," said Trevor Carlton, President, Atrium Medical. "We believe the similarities in our cultures and business focus, coupled with our ability to continue to work independently will allow our sales team, researchers and scientists to unlock the value of the core technologies that have driven our success to date."
"The acquisition of Atrium is an excellent strategic fit with our long-term business goals as Atrium's robust product line complements MAQUET Cardiovascular's existing therapy options and provides additional solutions for the customers that we serve," said Christian Keller, President and Chief Executive Officer of MAQUET Cardiovascular. "Like MAQUET, innovation is at the core of Atrium's business and we believe that this acquisition will leverage the scientific and technological advances across both organizations and enhance our ability to deliver ground-breaking solutions to our customers and patients worldwide."
BofA Merrill Lynch acted as exclusive financial advisor to Atrium Medical Corporation in connection with the transaction and Latham & Watkins LLP acted as legal counsel.
The transaction is expected to close in the fourth quarter of 2011, subject to U.S. Federal Trade Commission (FTC) approval.
Atrium's vast expertise in medical device technologies for the treatment of coronary and vascular disease, chest trauma, hernia and soft tissue injury has brought a number of breakthrough advances in several diversified healthcare markets including interventional cardiology and radiology, chest trauma care and thoracic drainage, vascular surgery, and general surgery. Maintaining a commitment to the latest ISO13485 Quality Standards, state-of-the-art manufacturing and automation, cell biology and biomaterial discovery programs, Atrium continues to excel in those healthcare segments that require more advanced surgical intervention for improvements in patient outcomes. For more information please visit www.atriummed.com.
As a trusted partner for hospitals and clinicians since 1838, MAQUET is a global leader in medical systems that advance surgical interventions, cardiovascular procedures and critical care. MAQUET develops and designs innovative products and therapeutic applications for the operating room, hybrid OR/cath lab, intensive care unit and patient transport within acute care hospitals, improving outcomes and quality of life for patients.
Cardiovascular specialties include intra-aortic balloon counterpulsation (IABC) therapy for cardiac assist; coronary artery bypass surgery; aortic and peripheral vascular surgery; and extracorporeal circulation. The Critical Care portfolio includes market-leading intensive care ventilators and anesthesia machines. MAQUET also equips Surgical Workplaces with critical infrastructure, such as flexible room design for OR and ICU; OR tables; lights and ceiling supply units; and OR integration for image data management.
MAQUET is a subsidiary of the publicly listed Swedish GETINGE GROUP. In 2010, MAQUET generated nearly half of the company's annual revenue of $3.2 billion. The company has 12,000 employees worldwide, including 5,000 employees in 36 international sales and service organizations, as well as a network of more than 250 sales representatives. For more information please visit www.maquet.com and www.getingegroup.com.
GETINGE GROUP is a leading global provider of products and systems that contribute to quality enhancement and cost efficiency within healthcare and life sciences. GETINGE GROUP operates under the three brands of ArjoHuntleigh, GETINGE and MAQUET. ArjoHuntleigh focuses on patient mobility and wound management solutions. GETINGE provides solutions for infection control within healthcare and contamination prevention within life sciences. MAQUET specializes in solutions, therapies and products for surgical interventions and intensive care.
The information is such that Getinge AB must disclose in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act.
SOURCE Atrium Medical Corporation