Getinge Group Acquires Atrium Medical for $680 Million
Atrium Medical Corporation announced today that they have signed an agreement to be acquired by the Swedish company, Getinge Group, and its subsidiary, Maquet Cardiovascular, a global leading provider of cardiovascular technologies, for $680 million.
Atrium develops medical device technologies for interventional cardiology and radiology, chest trauma care and thoracic drainage, vascular surgery, and general surgery. The company will operate as an independent, self-contained business unit of Maquet, which operates as a subsidiary of Getinge Group and generated nearly half of the company’s annual revenue of $3.2 billion in 2010. Atrium Medical Corporation will continue to be led by current the Atrium President, Trevor Carlton.
Christian Keller, President and CEO of Maquet Cardiovascular, commented that “the acquisition of Atrium is an excellent strategic fit with our long-term business goals as Atrium’s robust product line complements Maquet Cardiovascular’s existing therapy options and provides additional solutions for the customers that we serve”. “Like MAQUET, innovation is at the core of Atrium’s business and we believe that this acquisition will leverage the scientific and technological advances across both organizations and enhance our ability to deliver ground-breaking solutions to our customers and patients worldwide.”
Trevor Carlton, President of Atrium Medical, added that he believes “the similarities in our cultures and business focus, coupled with our ability to continue to work independently will allow our sales team, researchers and scientists to unlock the value of the core technologies that have driven our success to date.”
The transaction is expected to close in the fourth quarter of 2011, subject to U.S. Federal Trade Commission (FTC) approval.