Maquet Cardiovascular, a global leading provider of cardiovascular technologies, announced on 7 November that it has received US Federal Trade Commission (FTC) approval to acquire Atrium Medical, a leader in medical device technologies for interventional cardiology and radiology, chest trauma care and thoracic drainage, vascular surgery, and general surgery, and has subsequently closed the previously announced acquisition. Atrium will now operate as an independent, self-contained business unit of Maquet Cardiovascular and retain its current brand name.
“The rapid approval from the FTC will allow us to leverage Atrium’s synergies sooner and immediately provide our customers with an enhanced product offering,” said Christian Keller, president and chief executive officer of Maquet Cardiovascular. “In addition to Atrium’s innovative product line, we look forward to leveraging future scientific and technological advances resulting from this acquisition, so that we may continue to deliver ground-breaking solutions to customers and patients worldwide.”
In 2006, Maquet Cardiovascular had revenues of approximately US$70 million, but has grown dramatically over the last five years due to the company’s ability to continuously improve upon and penetrate the cardiovascular market with existing therapies and through mergers and acquisitions. In 2011, the company is expected to generate an estimated US$1 billion in revenues in 2011.
In addition to the Atrium acquisition, Maquet’s parent company, the Getinge Group, also completed a US$750 million acquisition of Boston Scientific’s cardiac surgery and vascular divisions in 2007, and the US$841 million purchase of intra-aortic balloon pump maker Datascope in 2008.