A Medical Device Daily
Getinge AB (Stockholm, Sweden) reported that it would extend its $53-a-share cash tender offer for all of the outstanding shares of Datascope (Montvale, New Jersey) until midnight, EST, Dec. 10. The deal was first disclosed in September (Medical Device Daily, Sept. 17, 2008).
As of the close of business Monday, roughly 10,753,417 shares of Datascope common stock, representing about 68% of the total outstanding shares, had been validly tendered and not withdrawn in the offer.
Getinge provides equipment and systems that contribute to quality enhancement and cost efficiency within healthcare and life sciences. Equipment, service and technologies are supplied under the brands ArjoHuntleigh for patient handling and hygiene, disinfection, DVT prevention, medical beds, therapeutic surfaces and diagnostics, Getinge for infection control and prevention within healthcare and life science and Maquet for surgical workplaces, cardiovascular and critical care.
Datascope describes itself as a leader of intra-aortic balloon counterpulsation and a diversified medical device company that develops products for clinical healthcare markets in interventional cardiology, cardiovascular and vascular surgery and critical care.
In other dealmaking activity, Arizona Heart Innovative Technologies (AHIT; Phoenix) reported the licensing of a new medical device for endovascular use to a publicly traded medical device company.
"This is the second AHIT-developed product that we have licensed in the past ten months. We continue to demonstrate our ability to bridge the gap between good ideas from the medical community to commercially viable products for medical device companies. This confirms the viability of our business model to serve as a cost-effective supplementary research and development resource for companies," says AHIT President/CEO Bill Colone. "We have additional products that have completed the development process and we are continuing to discuss options with many device companies."
AHIT licensed the endovascular product in July 2007 from Hani Shennib, MD, a cardiovascular surgeon formerly at the Arizona Heart Hospital. The product was prototyped, tested and marketed to multiple medical companies immediately following positive clinical test results. The product is expected to reach both the U.S. and international markets by 1Q09.