Bard
This article was originally published in The Gray Sheet
Executive Summary
Acquires Angiomed, a Karlsruhe, Germany-based manufacturer of stents, catheters, guide and specialty wires, and biopsy products, for undisclosed terms. Bard says the acquisition will strengthen its position in Germany and Eastern Europe. About half of Angiomed's $40 mil. in 1993 revenues were generated in Germany. "We are excited about Angiomed's metal stent technology which is currently being marketed in urology, radiology, vascular surgery and gastroenterology in both Germany and France," Bard says, adding that "potential coronary applications are under development." Bard plans to consolidate its Munich-based German operation into Angiomed's headquarters in Karlsruhe, where Angiomed employs about 400 people. Some job reductions are anticipated