MIV Therapeutics Inc. (MIVT) And Sahajanand Medical Technologies To Join Forces To Form World Class Drug-Eluting Coronary Stent Company; Transaction Will Bring Company $20 Million Approximate Annual Revenues And International Production And Distribution
10/19/2005 5:13:00 PM
VANCOUVER, B.C.--(BUSINESS WIRE)--March 11, 2005--MIV Therapeutics Inc., (OTCBB:MIVT) a developer of next-generation biocompatible coatings and drug delivery technologies, announced today that it has executed a letter of intent to acquire Sahajanand Medical Technologies, one of the world's largest manufacturers of advanced coronary stents. Alan Lindsay, Chairman, President and CEO of MIVT, made the announcement.
Sahajanand Medical Technologies (SMT), based in Surat, India, a leader in the use of high-precision laser technology, and is a maker of state-of-the-art drug-eluting and non-drug-eluting stents. Established in 1997, SMT is the largest privately-held producer of coronary drug eluting stents outside of North America, with its stents sold in more than 33 countries and over 25,000 implants.
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