CardioTech to Acquire Gish Biomedical

In a move to increase its presence in the open-heart surgery field, CardioTech International, Inc. (Woburn, MA, USA) has agreed to acquire Gish Biomedical (Rancho Santa Margarita, CA, USA) in an exchange of stock. The transaction will be structured as a tax-free reorganization.

This acquisition is designed to provide CardioTech with a leadership presence in the high-visibility open-heart surgery field and advance its strategy of expanding the breadth of products it provides to hospitals. The company, which also maintains operations in Plymouth, MN, USA, is developing a polyurethane-based vascular graft for the treatment of heart disease. CardioTech produces medical grade polyurethanes for use in implantable medical devices and wound dressings, and manufactures medical devices as an original equipment manufacturer (OEM).

Gish Biomedical specializes in the manufacture and sale of products used in open-heart surgery, vascular access, and orthopedic surgery, including catheters, arterial filters, reservoirs, and tubing systems.

Dr. Michael Szycher, chairman and CEO of CardioTech, stated, "The Gish acquisition is part of our carefully outlined corporate strategy of complementing our product line in heart surgery.”




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