Getinge/Maquet CV Emerging As Mid-Cap Strategic With Atrium Acquisition

Article preview from IN VIVO - October 1, 2011

At a time when the cardiovascular device industry is seeing less interest in M&A on the part of several large strategic players that formerly were major acquirers, a new mid-cap player appears to be emerging: Getinge's Maquet Cardiovascular division. The company recently announced its third major cardiovascular deal in the last five years with its $680 million acquisition of Hudson, NH-based Atrium Medical, which has a diversified cardiovascular products business.

Getinge/Maquet CV Emerging As Mid-Cap Strategic With Atrium Acquisition

Article preview from IN VIVO - October 1, 2011

At a time when the cardiovascular device industry is seeing less interest in M&A on the part of several large strategic players that formerly were major acquirers – most notably Johnson & Johnson/Cordis Corp. and Boston Scientific Corp., both of which decided to recently exit major vascular markets (drug-eluting stents for Cordis and neuro for Boston) – a new mid-cap player appears to be emerging: Getinge AB's Maquet Cardiovascular LLC division. The company recently announced its third major cardiovascular deal in the last five years with its $680 million acquisition of Hudson, NH-based Atrium Medical Corp., which has a diversified cardiovascular products business, including interventional devices such as specialized stents, and drug-infusion and extraction catheters. The deal is expected to close by the end of the year.

With the Atrium acquisition, Christian Keller, president and CEO of Maquet Cardiovascular, says he expects the company to top the billion dollar revenue mark next year. Maquet CV has grown dramatically over the last five years, largely through M&A. The Atrium deal follows Getinge's $750 million acquisition of Boston Scientific's (formerly Guidant's) cardiac surgery and vascular divisions in 2007, and the $841 million purchase of intra-aortic balloon pump maker Datascope in 2008.

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