Zoll to purchase rival for $12M
Zoll Medical, through a wholly owned subsidiary, will purchase Alsius and all the assets constituting Alsius's intravascular temperature management device business, for approximately $12 million.
Earlier this month, the Chelmsford, Mass.-based Zoll filed a lawsuit in the Central District Court of California against the Irvine, Calif.-based Alsius and its subsidiary Alsius Medical, citing infringement on two temperature-management patents.
Zoll said Alsius' assets to be acquired include the intellectual property relating to the business, other intangibles, inventories and fixed assets. The company will, as part of the agreement, assume warranty obligations relating to Alsius' installed base of products.
Zoll plans to consolidate the operations of the acquired business at its facilities in Sunnyvale, Calif. The closing of the transaction is subject to the approval of Alsius shareholders and to other customary closing conditions.
"We believe that our acquisition of the hypothermia technology and products now being sold by Alsius, in combination with the technology and know-how previously acquired by Zoll through its purchase of assets from Radiant Medical in 2007, should make Zoll a leader in the accurate, easy-to-use and cost-effective control of body temperature in critical care patients," Richard A. Packer, Zoll’s chairman and CEO.
Earlier this month, the Chelmsford, Mass.-based Zoll filed a lawsuit in the Central District Court of California against the Irvine, Calif.-based Alsius and its subsidiary Alsius Medical, citing infringement on two temperature-management patents.
Zoll said Alsius' assets to be acquired include the intellectual property relating to the business, other intangibles, inventories and fixed assets. The company will, as part of the agreement, assume warranty obligations relating to Alsius' installed base of products.
Zoll plans to consolidate the operations of the acquired business at its facilities in Sunnyvale, Calif. The closing of the transaction is subject to the approval of Alsius shareholders and to other customary closing conditions.
"We believe that our acquisition of the hypothermia technology and products now being sold by Alsius, in combination with the technology and know-how previously acquired by Zoll through its purchase of assets from Radiant Medical in 2007, should make Zoll a leader in the accurate, easy-to-use and cost-effective control of body temperature in critical care patients," Richard A. Packer, Zoll’s chairman and CEO.