Vascular Solutions Acquires Accumed Radial Access Wrist Splint Product

$1.5 million purchase for wrist splint product assets with annual sales approaching $500,000


 

June 15, 2012

June 15, 2012 — Vascular Solutions Inc. today announced that it has acquired the radial artery access wrist positioning splint product assets of privately-held Accumed Systems Inc. Since 1999, Accumed has sold the wrist positioning splint product exclusively in the United States via a company website, with current annualized sales approaching $500,000.

Radial artery access for coronary angiography and interventional procedures is now undergoing significant expansion in the United States, due mainly to reduced patient recovery times and improved patient comfort. The Accumed device is designed to simplify arterial access during radial procedures, for both the physician and patient, by holding the wrist and forearm in an appropriate and comfortable position and by eliminating unwanted hand and arm movement during and after the procedure.

The purchase price was $1.5 million, which was paid with cash on hand. Vascular Solutions expects the transaction to have an immediate
accretive impact on net income, although the addition of the wrist splint business will not have a material impact on 2012 earnings per share. Beginning in 2013, Vascular Solutions expects the product to be modestly accretive on an earnings per share basis. Under the terms of the agreement, Accumed will manufacture the product for sale by Vascular Solutions through the end of 2014, after which time Vascular Solutions will assume responsibility for manufacturing the device.

For more information: www.vasc.com