Cardiovascular Systems, Inc. and Replidyne, Inc. Complete Merger
Published: Feb 26, 2009
ST. PAUL, Minn.--(BUSINESS WIRE)--Cardiovascular Systems, Inc. (Nasdaq: CSII), a medical device company focused on developing and commercializing interventional treatment systems for vascular disease, announced today that it has successfully closed the transactions contemplated by its previously announced Merger Agreement dated November 3, 2008. The transactions included the merger of Cardiovascular Systems, Inc., a Minnesota corporation (CSI), with a subsidiary of Replidyne, Inc. In connection with the merger, Replidyne changed its name to Cardiovascular Systems, Inc. and its shares have been approved for trading on the NASDAQ Global Market® under the symbol, “CSII.” Shareholders of both companies approved the transactions on February 24, 2009. Through this transaction, an additional $37.0 million in net assets, primarily cash, is available to CSI’s business. The company plans to use the proceeds to advance its medical products, including its Diamondback 360°™ Orbital Atherectomy System, and expand its sales and marketing organization.