I-Flow Corporation Announces Agreement to Acquire AcryMed, Inc. for $25 Million Cash
Published: Dec 14, 2007
LAKE FOREST, Calif.--(BUSINESS WIRE)--I-Flow Corporation (NASDAQ: IFLO) announced today that it has entered into a binding letter of intent to acquire AcryMed, Inc., a privately held Oregon-based developer of innovative infection control and wound healing products. AcryMed shareholders will receive $25 million in cash from I-Flow in the planned merger. AcryMed developed the proprietary nanoparticle treatment process for the silver coating on I-Flow's ON-Q SilverSoakerTM Catheters and has been treating the catheters since I-Flow developed the product line in 2005. AcryMed will also manufacture for I-Flow a new line of silver transparent wound-site dressings, which I-Flow expects to bring to market early next year. In addition to providing silver coating for these I-Flow products, AcryMed is active in researching and developing new wound care technologies and has licensed a portion of these technologies for a range of infection control and wound care products.