Sweden's Getinge to acquire Atrium Medical for $680 million Medical technology group
04 October 2011
Healthcare sector-focused Getinge AB of Sweden is set to acquire US-based cardiovascular company Atrium Medical Inc for $680 million, its biggest acquisition since the past four years in order to expand its cardiovascular business.
The acquisition is beung executed by Sweden-based Getinge Group and its subsidiary Maquet. Getinge, which has in recent years acquired Boston Scientific and Datascope, had revenues of $3.2 billion last year.
Founded in 1981, Hudson- (New Hampshire) based Atrium develops medical device technologies for the cardiovascular market including cardio-thoracic drainage products, vascular grafts, balloon expandable covered stents, thrombus management catheters and biosurgery products.
It 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.
"In the past five-year period, Atrium has grown an average of 19 per cent annually and its sales are expected to reach slightly more than $200 million in the current calendar year," Getinge said in a statement.
''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 CEO of Maquet Cardiovascular.