Sulzer Medica announced the closing of the acquisition of IntraTherapeutics Inc. The shareholders of IntraTherapeutics and the US Federal Trade Commission (FTC) have both approved the acquisition, which will expand Sulzer Medica's vascular business activities into the fast growing peripheral stent market.
Sulzer Medica acquired IntraTherapeutics Inc., based in St. Paul, Minnesota, for a purchase price of USD 145 million. The company, which employs 150 people, had sales of approximately USD 17 million in 2000. IntraTherapeutics is an emerging designer, manufacturer and marketer of peripheral stents, devices for the treatment of peripheral vascular diseases.
"Sulzer IntraTherapeutics will operate as a separate company within the Cardiovascular Division of Sulzer Medica," said Terry Marlatt, president of the Cardiovascular Division. "We are proud and excited to welcome our new colleagues of Sulzer IntraTherapeutics and look forward to jointly expanding our activities in the vascular market."
"We are very pleased to become part of an organization like Sulzer Medica," said John Erb, president of Sulzer IntraTherapeutics. "With our proven technology, the support of Sulzer Medica, and the growth opportunity in the peripheral vascular market, Sulzer IntraTherapeutics will rapidly reach a market leadership position."