- 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.