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Abiomed Inc announces acquisition of ECP to broaden and strengthen existing intellectual property and product platform


Tuesday, 1 Jul 2014 04:15pm EDT 

Abiomed Inc:Acquires ECP Entwicklungsgesellschaft mbH (ECP), medical device company based in Berlin, Germany.This acquisition is consistent with Abiomed's strategy to offer percutaneous hemodynamic support for minimally invasive procedures for complex treatment.Additionally, transaction will further strengthen Abiomed's solid position in intellectual property (IP) for axial and expandable pump capabilities.Unique characteristic of the Impella pump is its ability to contain the motor and pump inside the body and be deployed via catheter.In connection with the transaction, Abiomed has acquired all outstanding shares of ECP from Syscore GmbH for about $13 mln in cash, with potential long-term payouts of $7 mln for CE Marking approval and $8 mln for achieving aggregate worldwide revenue of $125 mln for products utilizing ECP patents.In connection with acquisition, Abiomed has also acquired through ECP, AIS GmbH Aachen Innovative Solutions for about $2.75 mln. 

Company Quote

38.64
0.18 +0.47%
26 Dec 2014