Feature | March 24, 2014

Sorin Acquires Oscor’s CRM Lead Business for MRI Compatible Standard Systems

Acquisition will allow Sorin to respond better to the rapidly changing market conditions, requiring high-quality value-driven MRI compatible standard systems

March 24, 2014 — Sorin Group has purchased Oscor Inc. lead business, including a lead manufacturing facility in the Dominican Republic for a value of approximately $20 million.

Oscor, headquartered in Tampa Fla., is one of the largest independent players in the development and manufacture of cardiac leads and catheters. With more than 400 employees and manufacturing facilities in the United States and the Dominican Republic, Oscor sells its products both to end-customers and to leading medical device companies, including Sorin Group, on an original equipment manufacturer (OEM) basis.

Under this agreement, Sorin Group acquires: 1) Oscor-branded and OEM for Sorin bradycardia lead business; 2) design files and development resources which will be the foundation for the development of magnetic resonance imaging (MRI) compatible tachycardia and left ventricular leads; and 3) one of Oscor’s fully equipped lead manufacturing facilitues, ISO certified and FDA registered, based in the Dominican Republic.

Sorin Group expects this acquisition will generate additional revenues from Oscor’s existing lead business and consolidate its MRI-compatible brady leads that are currently produced by Oscor. In addition, this agreement represents an opportunity for further co-operative development with Oscor of brady and tachy leads that will accommodate upcoming market requirements for MRI.

The transaction is subject to customary closing conditions.

For more information: www.sorin.com

Related Content

Medtronic Announces First Enrollments in STOP AF First Clinical Trial
News | Ablation Systems| July 24, 2017
Medtronic plc recently announced first enrollments in the STOP AF First clinical trial. The trial will evaluate the...
Biotronik Launches DX Technology for U.S. Heart Failure Patients
News | Cardiac Resynchronization Therapy Devices (CRT)| July 21, 2017
Biotronik announced U.S. Food and Drug Administration (FDA) approval and availability of the Intica DX and Intica...
Cardiologs ECG Analysis Platform Receives FDA Clearance
Technology | ECG Monitoring Services| July 13, 2017
Cardiologs Technologies SAS announced that it has received U.S. Food and Drug Administration (FDA) clearance of its...
iRhythm and Stanford Researchers Develop Deep Learning-Based Cardiac Arrhthymia Detection Algorithm
News | Artificial Intelligence| July 11, 2017
iRhythm Technologies Inc. announced a collaboration with the Stanford Machine Learning Group that has resulted in the...
Predictive Models May Help Determine Which Patients Benefit From ICDs
News | Implantable Cardioverter Defibrillators (ICD)| July 06, 2017
Two predictive models may help cardiologists decide which patients would most benefit from an implantable cardioverter...
Medtronic Reactive ATP Therapy Slows Progression of Atrial Fibrillation in Real-World Population
News | Atrial Fibrillation| July 03, 2017
Medtronic recently announced that its Reactive ATP therapy slows the progression of atrial fibrillation (AF) in...
Sponsored Content | Videos | Cardiovascular Ultrasound| June 29, 2017
Leyla Elif Sade, M.D., MESC, professor of cardiology at Başkent University, Ankara, Turkey, discusses use of echo for
Overlay Init