Upon the conclusion of the transaction, Angiotech will retain its Surgical Products Business and its Royalty Business. Upon the conclusion of the transaction, Angiotech will retain its surgical products business and its royalty business.
Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. The partners of RoundTable have significant experience in managing, acquiring and financing multi-billion dollar diversified health care companies.
Angiotech has licensed this aspect of its intellectual property portfolio to its partners Boston Scientific Corp. The most significant intellectual property angiotech interventional business plan 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.
This multi-faceted campaign is a unique response to the needs of CLI patients and to the physicians challenged with treating these patients effectively. As part of this agreement, Argon will not have commercialization rights to BioSentry.
Argon also offers complete lines of PICC and midline catheters, endomyocardial biopsy forceps, introducer sheaths, pressure transducers and other vascular products. Angiotech will also retain all intellectual property, rights, assets and inventory related to its BioSentry formerly Bio-Seal product line, which was recently approved for sale in the United States by the U.
With the sale, Angiotech said it will refocus its efforts on its surgical and bioseal devices. 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. Lastly, Angiotech will retain real property assets located in Stenlose, Denmark as part of the transaction, and will retain net proceeds generated upon any sale of such real property assets subsequent to Angiotech and Argon concluding Angiotech's previously announced transfer of production activities from Stenlose to facilities located in the United States.
The partners of RoundTable have significant experience in managing, acquiring and financing multi-billion dollar diversified health care companies.
Shareholders representing about 70 percent of Angiotech's outstanding shares have already agreed to vote their shares in favor of the sale, it added. 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.
Angiotech's shareholders still need to sign off on the deal, the company said. Angiotech plans to file its annual report on form K in ordinary course at or around March 31, Such transfer is currently expected to conclude during the first half of Angiotech's Interventional Products Business also manufactures components for other third party medical device manufacturers, operates manufacturing facilities in Wheeling, IL, Gainesville, FL and Stenlose, Denmark and employs a direct sales and marketing organization in the U.S.
and Europe. Angiotech’s Interventional business reported $ million in revenue during the fiscal year ended Dec. 31, PLANO, TX — Argon Medical Devices, Inc. (Argon), a leading global manufacturer and marketer of specialty medical devices used in interventional procedures, announced today that it has formalized a Medical Advisory Board comprised of distinguished physicians from institutions across the United States who specialize in interventional medicine.
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. The deal will allow Angiotech to pay off all of its debt obligations and will bring the interventional products business, which includes biopsy devices and drainage catheters, back to its former owners.
In the latest chapter in the tale of the declining B.C. biotech industry, Angiotech Pharmaceuticals Inc. Angiotech to sell subsidiary for $m to pay off debt - Technology | Business in Vancouver.Download