Argon sells critical care platform to Merit

253

Argon has announced that it has completed the sale of its Critical Care Unit including a manufacturing facility in Yishun, Singapore and related commercial operations in Europe and Japan, to Merit.

The sale of the Critical Care Unit allows Argon to focus solely on its interventional business worldwide, a press release from the company says.

The Argon interventional product portfolio consists of the Option Elite retrievable inferior vena cava filter, CleanerXT and Cleaner15 rotational thrombectomy systems, BioPince full-core biopsy instrument, TLAB transjugular liver biopsy instrument, Atrieve vascular snare, Skater drainage systems and T-Lok bone marrow biopsy needles.

A press release from Merit on 6 February states that it has acquired certain products from Argon Medical Devices and Catheter Connections. “The combined revenues of the two acquired product lines were approximately US$46 million in 2016. The transactions were financed with a combination of cash and existing credit facilities, which totalled $48 million,” the release added.