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news.Zoll Medical has signed an agreement with Alsius, a medical device company, under which Zoll, through a wholly owned subsidiary, will purchase from Alsius substantially all the assets constituting Alsius's intravascular temperature management device business for a purchase price of $12 million.
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The assets to be acquired include the intellectual property relating to the business, other intangibles, inventories and fixed assets. Zoll will, as part of this agreement, assume warranty obligations relating to Alsius’s installed base of products.
Zoll plans to consolidate the operations of the acquired business at its facilities in Sunnyvale, California. The closing of the transaction is subject to the approval of Alsius shareholders and to other customary closing conditions.
Richard Packer, chairman and CEO of Zoll, said: This agreement underscores Zoll’s commitment to therapeutic temperature management. We believe that our acquisition of the hypothermia technology and products now being sold by Alsius, in combination with the technology and know-how previously acquired by Zoll through its purchase of assets from Radiant Medical in 2007, should make Zoll a leader in the accurate, easy-to-use and cost-effective control of body temperature in critical care patients. We plan to continue to provide the Alsius line of products to the market to meet the ongoing needs of clinicians.