Thoratec Corp., a product manufacturer in cardiovascular disease, said that its International Technidyne Corporation (ITC) division acquired A-VOX Systems Inc., a manufacturer of point-of-care (POC) instruments and disposables to perform CO-Oximetry testing.
Under the terms of the purchase agreement, ITC has acquired all of the
outstanding shares of Avox for approximately $9 million in cash. Privately
held Avox is based in San Antonio, TX, and has become a subsidiary of
ITC. Thoratec said this transaction is not expected to have a material
impact on its 2006 financial results, but that it expects the acquisition
to be accretive to earnings beginning in 2007.
"This transaction is an important event for ITC as it broadens our
offerings for hospital POC testing, particularly in the cardiac
catheterization lab where Avox has an industry-leading presence," said Gary
F. Burbach, president and chief executive officer of Thoratec. "This
acquisition is indicative of both our commitment to the POC market and
strategy to increase ITC's presence in it," he continued.
Avox manufactures two devices that utilize patented light-scattering
technology to make direct measurements in whole blood. The AVOXimeter(R)
1000E is specifically designed for the cardiac catheterization lab, and is
the leading stand-alone POC oximeter in U.S. hospitals today. The portable
AVOXimeter 4000 provides a fast, accurate assessment of a patient's
oxygenation at the bedside. The AVOXimeter 4000 is used in routine testing
in combination with a blood gas analyzer to provide a more comprehensive
and complete assessment of a patient's oxygenation status in the intensive
care unit (ICU), operating room (OR) and other critical care situations. It
is also used in the neonatal intensive care unit (NICU) to confirm nitric
oxide treatment side effects in newborns and in the emergency department to
diagnose smoke inhalation.