August 7, 2008 - Datascope Corp. today said it completed the sale of assets of its vascular closure business, including all assets related to its VasoSeal, On-Site, and X-Site devices and its collagen operation, to St. Jude Medical Inc.
Datascope will receive $21 million in cash at closing, and $3 million upon the expiration of an 18-month indemnification period. The carrying value of the assets and other direct expenses related to the sale was approximately $23.7 million.
This transaction completes Datascope’s previously announced plan to exit the vascular closure market and phase out its interventional products business. In February 2007 Datascope sold its ProGuide chronic dialysis catheter product line to Merit Medical Systems Inc., for $3 million plus a royalty on future ProGuide sales.
Datascope Corp. is the global leader of intra-aortic balloon counterpulsation and a diversified cardiovascular device company that develops, manufactures and markets proprietary products for interventional cardiology, cardiovascular and vascular surgery.
For more information: www.datascope.com