SORIN GROUP ANNOUNCES PURCHASE OF ESTECH CANNULAE PRODUCT LINE
Purchase signals company’s continued commitment to growth and its focus on leading edge cardiac surgery technology
Milan, Italy, 19 July 2011– Sorin Group, (Reuters Code: SORN.MI), a global medical device company and a leader in the treatment of cardiovascular diseases, has purchased the cannulae product line from Estech. The purchase includes all Estech cannulae portfolio supporting minimally invasive and traditional cardiac surgery procedures.
This portfolio ofcannulation solutions provides optimal blood flow with the smallest possible size. The product’s advanced designs allow easy insertion for minimally invasive and traditional cardiac procedures. Estech cannulae revenue is annualizing at $3 million and is growing rapidly.
“This acquisition represents Sorin Group’s efforts to further strengthen its position within the cannulae market, and is a testament to our dedication to meeting current demands within the cardiac suite,” said Michel Darnaud, President, Cardiopulmonary Business Unit and Intercontinental, Sorin Group.
“Estech has divested its perfusion product line to provide more focus and investment in its minimally invasive cardiac ablation business, which is experiencing very strong growth,” stated John Pavlidis President and CEO of Estech. “We believe this acquisition validates the excellent quality of Estech products and the much larger global reach of Sorin Group will drive significant adoption of these valuable products by surgeons worldwide”.
Innovative product development and acquisitions will continue to play an important role in Sorin Group’s strategy to further reinforce its worldwide leadership. Today, more than half of the cardiac surgery procedures in the world are performed using Sorin’s cardiopulmonary products. Sorin’s equipment, devices and disposables can be found in the vast majority of the world’s leading hospitals.
About Sorin Group
Sorin Group (www.sorin.com), is a global medical device company and a leader in the treatment of cardiovascular diseases. The Company develops, manufactures and markets medical technologies for cardiac surgery and for the treatment of cardiac rhythm disorders. With 3,700 employees worldwide, Sorin Group focuses on three major therapeutic areas that include: cardiopulmonary bypass (extracorporeal circulation and autotransfusion systems), cardiac rhythm management, and heart valve repair and replacement. Every year, over one million patients are treated with Sorin Group devices in more than 80 countries.
Estech develops and markets a broad portfolio of innovative medical devices and disposables that enable cardiac surgeons worldwide to perform a variety of surgical procedures, including the growing trend in minimally invasive and hybrid ablation procedures, with maximum ease of use, patient safety and clinical effectiveness. Estech is privately held and backed by a number of leading life sciences venture capital firms in Silicon Valley and Europe. The company is headquartered in San Ramon, California, USA. For more information, please visit www.estech.com.
For more information, please visit: www.sorin.com, or contact:
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