Datascope Evaluates Option to Sell
In light of the interest expressed by several organizations, Datascope Corporation is considering putting itself up for sale. At least three offers were made to acquire the company after it sold the patient monitoring business in March for $202 million.
The Board of Directors is considering the options and has yet to make a decision about whether or not to be sold. In the meantime, the company’s financial advisor is engaging in discussions with interested parties who made purchase offers.
As well, the cash received from the monitoring business sale will be held. This will support flexibility until a business determination has been made. The company plans to withhold the release of earnings expectations for both the current quarter as well as the upcoming year.
Datascope specializes in the development of products for cardiovascular care, used by vascular and cardiac surgeons as well as the intensive care setting. The existing product for intra-aortic balloon counterpuslation is the best selling product in that category.
June 6, 2008 Related topics: Mergers & Acquisitions