GETINGE to acquire Atrium Medical

Atrium Medical Corporation, announced today that it has signed a definitive agreement to be acquired by GETINGE GROUP (STO: GETIB) of Sweden and its subsidiary, MAQUET Cardiovascular, a global leading provider of cardiovascular technologies for $680 million.  Atrium is a leader in medical device technologies for interventional cardiology and radiology, chest trauma care and thoracic drainage, vascular surgery, and general surgery.  Atrium will operate as an independent, self-contained business unit of MAQUET Cardiovascular and will continue to be led by current Atrium President, Trevor Carlton.

"MAQUET Cardiovascular's heritage and global leadership in the interventional cardiology, vascular surgery and cardiopulmonary space provides us the resources necessary to continue to grow our business and better serve our customers around the world," said Trevor Carlton, President, Atrium Medical.  "We believe the similarities in our cultures and business focus, coupled with our ability to continue to work independently will allow our sales team, researchers and scientists to unlock the value of the core technologies that have driven our success to date."

"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 Chief Executive Officer of MAQUET Cardiovascular.  "Like MAQUET, innovation is at the core of Atrium's business and we believe that this acquisition will leverage the scientific and technological advances across both organizations and enhance our ability to deliver ground-breaking solutions to our customers and patients worldwide."  

BofA Merrill Lynch acted as exclusive financial advisor to Atrium Medical Corporation in connection with the transaction and Latham & Watkins LLP acted as legal counsel.

The transaction is expected to close in the fourth quarter of 2011, subject to U.S. Federal Trade Commission (FTC) approval.

Source:

Atrium Medical Corporation

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