Medos Medizintechnik AG to buy Gish
Biomedical from CardioTech
12 July 2007 Stolberg, Germany. MEDOS Medizintechnik AG, developer and manufacturer of medical devices for
cardiac surgery, extracorporeal membrane oxygenation (ECMO) and ventricle
assist devices, has agreed to buy Gish Biomedical
Inc., a subsidiary of CardioTech International Inc. (AMEX: CTE), developer
and manufacturer of advanced materials and
medical devices for the treatment of cardiovascular and other diseases. Dr
Thomas Theisen, Chief Sales Officer, MEDOS, said, “The acquisition of Gish
represents an excellent opportunity to achieve a significant position in the
US market for disposable medical products used in cardiopulmonary surgery.
Buying Gish also provides a solid platform for selectively introducing MEDOS’
innovative products from the ECMO and VAD product lines to the US market
using the well respected Gish brand. MEDOS has the structure to capitalize
on combining two strong
R&D programs in the global medical device marketplace.” CardioTech President and CEO
Michael Adams said, “The
sale of Gish provides MEDOS with an excellent opportunity to enter the US
market. CardioTech’s direction is targeted to being a world class technology
business focused on customer-driven solutions in the medical device
industry.” MEDOS Medizintechnik has offices in Germany, France and China. To top
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