Atrium Medical has signed a definitive agreement to be acquired by Getinge Group of Getinge, Sweden and its subsidiary Maquet Cardiovascular, for $680 million.
Atrium, based in Hudson, N.H., develops medical device technologies for interventional cardiology and radiology, chest trauma care and thoracic drainage, vascular surgery and general surgery. Atrium has approximately 700 employees worldwide. Atrium’s product program is primarily geared toward the cardiovascular market and encompasses cardiothoracic drainage products, vascular grafts, balloon expandable covered stents, thrombus management catheters and biosurgery products.
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.
For Atrium, Bank of America Merrill Lynch acted as exclusive financial advisor to Atrium in connection with the transaction and Latham & Watkins acted as legal counsel. For Getinge, the acquisition is being financed through the use of existing credit facilities and a new form of credit with a bridge loan of $300 million.
The transaction is expected to close in the fourth quarter, subject to U.S. Federal Trade Commission approval.