Abiomed buys German device firm

Abiomed (ABMD +0.6%) acquires Berlin, Germany-based ECP Entwicklungsgesellschaft mbH (ECP). ECP's lead product is a percutaneous expandable catheter pump that increases blood circulation from the heart with an external drive shaft. It delivers a potential flow rate of up to 4.5 liters per minute and an insertion radius for the impeller and catheter of less than 10 French.

Under the terms of the acquisition agreement, Abiomed acquires all outstanding ECP shares from Syscore GmbH for ~$13M in cash. The transaction includes provisions for long-term payouts for CE Mark approval ($7M) and worldwide revenue of $125M for products utilizing ECP patents ($8M).

Through ECP, Abiomed acquires AIS GmbH Aachen Innovative Solutions for ~$2.75M. AIS owns certain IP rights related to ECP's development efforts.

The acquisition is consistent with ABMD's strategy to offer percutaneous hemodynamic support for minimally invasive procedures for complex treatment.

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