Sunshine Heart pays $5m for Baxter ’ s Aquadex

Sunshine Heart (NSDQ:SSH) said today that it agreed to pay about $5 million for the Aquadex fluid filtration device Baxter (NYSE:BAX) acquired when it bought Gambro in 2013. The Aquadex device is designed to filter salt and water in patients with renal failure experiencing fluid overload. The deal calls for Eden Prairie, Minn.-based Sunshine Heart to pay $4 million in cash and another 1 million in SSH shares, worth about $950,000 at their August 5 closing price of 95¢ apiece. Baxter paid $3.9 billion to acquire Swedish dialysis giant Gambro and the Aquadex device in September 2013. Sunshine Heart’s flagship product is the C-Pulse system, designed to use intra-aortic balloon counter-pulsation to reduce the load on the left ventricle using a cuff around the exterior of the aorta. The cuff is designed to inflate and deflate in sync with the heart’s pulsation to augment cardiac function. “Aquadex is an important strategic investment, which allows Sunshine Heart to strengthen our presence in the heart failure market,” chairman & CEO John Erb said in prepared remarks. “We believe Aquadex is a valuable and highly complementary technology to our expanding heart failure product portfolio. There is a real need for fluid management in patients both before and following any kind of heart failure procedure. Aquadex is used to treat fluid overload in congestive heart failure patients and can help reduce the length of stay while in the hospital...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Dialysis Mergers & Acquisitions Wall Street Beat Baxter International Sunshine Heart Inc. Source Type: news