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.

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