Brief
Medtech Company CSI Acquires Assets of Israeli Company Gardia for $17 Million
The assets in question are Gardia's WIRION system, which helps reduce complications during minimally invasive interventional procedures
10:3906.08.19
Nasdaq-listed Cardiovascular Systems Inc. (CSI) has acquired some of the assets of Israel-based Gardia Medical for $17 million plus royalties, Gardia's parent company Alium Medical Ltd. announced Tuesday. The assets in question are Gardia's WIRION system, which helps reduce complications during minimally invasive interventional procedures.
Medical procedures (illustration). Photo: shutterstock
CSI paid $7 million during the signing of the agreement, $5.6 million of it in cash and the rest in stock, and another $10 million will be paid when the manufacturing business changes hands. CSI will also pay Alium another $3 million for every $10 million of net revenues gained from the system's sales beyond sales of $30 million, for a set period of time.
Medical procedures (illustration). Photo: shutterstock 