WAYNE, N.J., Nov. 7, 2011 /PRNewswire/ -- MAQUET Cardiovascular, a global leading provider of cardiovascular technologies, announced today that it has received U.S. Federal Trade Commission (FTC) approval to acquire Atrium Medical Corporation, a leader in medical device technologies for interventional cardiology and radiology, chest trauma care and thoracic drainage, vascular surgery, and general surgery, and has subsequently closed the previously announced acquisition. Atrium will now operate as an independent, self-contained business unit of MAQUET Cardiovascular and retain its current brand name.
"The rapid approval from the FTC will allow us to leverage Atrium's synergies sooner and immediately provide our customers with an enhanced product offering," said Christian Keller, president and chief executive officer of MAQUET Cardiovascular. "In addition to Atrium's innovative product line, we look forward to leveraging future scientific and technological advances resulting from this acquisition, so that we may continue to deliver ground-breaking solutions to customers and patients worldwide."
The Atrium acquisition is another example of MAQUET's commitment to improving therapies for patients and acquiring the best products and services to better enhance its offerings to customers and patients.
In 2006, MAQUET Cardiovascular had revenues of approximately $70 million, but has grown dramatically over the last five years due to the Company's ability to continuously improve upon and penetrate the cardiovascular market with existing therapies and through mergers and acquisitions. In 2011, the company is expected to generate an estimated $1 billion in revenues in 2011.
In addition to the Atrium acquisition, MAQUET's parent company, the Getinge Group, also completed a $750 million acquisition of Boston Scientific's cardiac surgery and vascular divisions in 2007, and the $841 million purchase of intra-aortic balloon pump maker Datascope in 2008. Both acquisitions are part of the MAQUET Cardiovascular organization today and product revenues from those acquisitions and continued organic growth continue to play a significant role in MAQUET Cardiovascular's dramatic revenue growth.
Atrium's vast expertise in medical device technologies for the treatment of coronary and vascular disease, chest trauma, hernia and soft tissue injury has brought a number of breakthrough advances in several diversified healthcare markets including interventional cardiology and radiology, chest trauma care and thoracic drainage, vascular surgery, and general surgery. Maintaining a commitment to the latest ISO13485 Quality Standards, state-of-the-art manufacturing and automation, cell biology and biomaterial discovery programs, Atrium continues to excel in those healthcare segments that require more advanced surgical intervention for improvements in patient outcomes. For more information please visit www.atriummed.com.
As a trusted partner for hospitals and clinicians since 1838, MAQUET is a global leader in medical systems that advance surgical interventions, cardiovascular procedures and critical care. MAQUET develops and designs innovative products and therapeutic applications for the operating room, hybrid OR/cath lab, intensive care unit and patient transport within acute care hospitals, improving outcomes and quality of life for patients.
Cardiovascular specialties include intra-aortic balloon counterpulsation (IABC) therapy for cardiac assist; coronary artery bypass surgery; aortic and peripheral vascular surgery; and extracorporeal circulation. The Critical Care portfolio includes market-leading intensive care ventilators and anesthesia machines. MAQUET also equips Surgical Workplaces with critical infrastructure, such as flexible room design for OR and ICU; OR tables; lights and ceiling supply units; and OR integration for image data management.
MAQUET is a subsidiary of the publicly listed Swedish GETINGE GROUP. In 2010, MAQUET generated nearly half of the company's annual revenue of $3.2 billion. The company has 12,000 employees worldwide, including 5,000 employees in 36 international sales and service organizations, as well as a network of more than 250 sales representatives. For more information please visit www.maquet.com and www.getingegroup.com.
MAQUET The Gold Standard.
GETINGE GROUP is a leading global provider of products and systems that contribute to quality enhancement and cost efficiency within healthcare and life sciences. GETINGE GROUP operates under the three brands of ArjoHuntleigh, GETINGE and MAQUET. ArjoHuntleigh focuses on patient mobility and wound management solutions. GETINGE provides solutions for infection control within healthcare and contamination prevention within life sciences. MAQUET specializes in solutions, therapies and products for surgical interventions and intensive care.
The information is such that Getinge AB must disclose in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act.
SOURCE MAQUET Cardiovascular