Angiotech expects to make a cash distribution, in the form of a return of capital, to shareholders in an amount to be determined shortly after the close of the transaction, and subsequent to the repayment of Angiotech's debt obligations, final payment of all transaction related fees and expenses and final determination by management and the board of directors as to the operating cash needs of Angiotech's remaining businesses.
Angiotech expects the transaction will close prior to the end of April Argon Medical Devices is a angiotech interventional business plan company of RoundTable Healthcare Partners Lake Forest, ILan operating-oriented private equity firm focused exclusively on the healthcare industry.
The most significant intellectual property in this portfolio is related to the use of the drug paclitaxel in treating certain conditions, including certain side effects that may occur coincident with the implantation of medical devices.
Angiotech also expects to terminate its revolving credit facility with Wells Fargo Capital Finance upon the close of the transaction. Angiotech expects the transaction will close prior to the end of April Argon will not, as part of this agreement, have commercialization rights to BioSentry.
Angiotech will continue to operate its royalty business, which is composed of a portfolio of intellectual property relating to a variety of biomaterial, drug, and medical device technologies and technology applications.
Argon offers a broad line of medical devices for interventional radiology, vascular surgery, interventional cardiology and critical care procedures. The businesses being acquired by Argon include all manufacturing, commercial and administrative operations relating to Angiotech's interventional products business.
Such transfer is currently expected to conclude during the first half of Angiotech will continue the commercial launch activities for this product line in the United States, where it recently received regulatory approval.
Many such known risks, uncertainties and other factors are taken into account as part of our assumptions underlying these forward-looking statements and include, among others, the following: This multi-faceted campaign is a unique response to the needs of CLI patients and to the physicians challenged with treating these patients effectively.
The transaction is conditioned on, among other things, expiration of applicable waiting periods under the U.
Angiotech will focus on its surgical products business, including the Quill knotless tissue closure device, Look brand sutures for general and dental surgery, Sharpoint UltraGlide and Microsurgical sutures, and ophthalmic products such as the Sharpoint brand ophthalmic surgical blades.
Angiotech expects to use the proceeds received from the transaction to repay all of its remaining outstanding debt obligations, including remaining amounts due under its Senior Floating Rate Notes due December and the Senior Notes due December Argon will not, as part of this agreement, have commercialization rights to BioSentry.
Angiotech plans to file its annual report on form K in ordinary course at or around March 31, RoundTable created the interventional products business inwhen it invested in medical device manufacturer American Medical Instruments Holdings Inc.
Argon will not, as part of this agreement, have commercialization rights to BioSentry. Forward-looking statements may involve, but are not limited to, comments with respect to our objectives and priorities in and beyond, our strategies or future actions, our targets, expectations for our financial condition and the results of, or outlook for, our operations, research and development and product development.
For additional information about Angiotech, please visit our website at www. This site also provides physicians with case studies, product videos, and information symposiums taking place throughout the United States. Angiotech's Surgical Products Business also manufactures components for other third party medical device manufacturers, and operates manufacturing facilities in Reading, Pa.
Coincident with the transaction, Angiotech concluded a 3-year manufacturing and supply agreement with Argon with respect to BioSentry. BPVa subsidiary of C. Vancouver, BC announced that it had entered into a definitive agreement to sell certain of its subsidiaries to Argon Medical Devices, Inc.
We would like to offer our admiration and sincere thanks to the dedicated management and employees of our interventional products business for their resilience through many changes, teamwork and achievements. Given these uncertainties, assumptions and risk factors, investors are cautioned not to place undue reliance on such forward-looking statements.
Upon the conclusion of the transaction, Angiotech will retain its Surgical Products Business and its Royalty Business. Further information will be forthcoming upon the close of the transaction. Key product lines in Angiotech's surgical products business include wound closure products such as the Quill knotless tissue closure device, Look brand sutures for general and dental surgery and Sharpoint UltraGlide and Microsurgical sutures and ophthalmic products such as the Sharpoint brand ophthalmic surgical blades.
Forward-looking statements may involve, but are not limited to, comments with respect to our objectives and priorities in and beyond, our strategies or future actions, our targets, expectations for our financial condition and the results of, or outlook for, our operations, research and development and product development.
Angiotech said that it will use the proceeds of the sale to repay its outstanding debt, including debt under its senior floating rate notes due December and senior notes due December Angiotech Pharmaceuticals Inc.
is on the verge of completing a major deal for a division of its medical device products. The medical technology company announced Monday that it will sell certain subsidiaries, namely its Interventional Products business, to medical product manufacturer Argon Medical Devices Inc.
for $ million in cash. The Interventional Products Business manufactures and markets disposable and re-usable biopsy products for the diagnosis of cancer, drainage catheter products, and vascular interventional products. The transaction is expected to be completed prior to the.
Angiotech Pharmaceuticals Inc. announced that it entered into a definitive agreement to sell certain of its subsidiaries, comprising Angiotech's interventional products business, to Argon Medical Devices Inc., a portfolio company of RoundTable Healthcare Partners, for $ million in cash consideration.
Angiotech expects the transaction will close prior to the end of April Angiotech announces sale of Interventional Products Business to Argon Medical Devices, Inc.
News provided by Angiotech Pharmaceuticals, Inc.
Canadian specialty pharmaceuticals and medical device company Angiotech Pharmaceuticals Inc. has entered into an agreement to sell its interventional products business unit to Argon Medical. Angiotech Pharmaceuticals Inc. will sell its interventional products business to private equity-backed Argon Medical Devices Inc.
for $ million to pay off its debts and generate revenue, the.Download