Getinge acquires Atrium Medical
Getinge has agreed to acquire Atrium Medical Inc., a US-based company primarily focused on the cardiovascular market, from a group of private investors for approximately USD 680 million. The acquisition is being financed through the use of existing credit facilities and a new form of credit in the shape of a bridge loan of USD 300 million. The completion of the acquisition is contingent on securing approval from the relevant competition authorities.
Atrium Medical has about 700 employees worldwide and sales of approximately USD 200 million are expected in 2011. The Company’s product programme encompasses cardio-thoracic drainage products, vascular grafts, balloon expandable covered stents, thrombus management catheters and biosurgery products and is sold directly through proprietary sales offices in the US, the UK, Germany, France, the Netherlands, India, Australia and New Zealand and indirectly through a network of international distributors.
The Getinge Group is a leading global provider of equipment, systems and solutions within healthcare and the life sciences. The Group, headquartered in Getinge, Sweden, has around 12 000 employees, proprietary sales companies in 34 countries, and 26 production facilities in 12 countries. In 2010, net sales amounted to SEK 22.2 billion. The Getinge share is listed on NASDAQ OMX Stockholm.
Getinge was assisted by Mannheimer Swartling in the transaction. The firm’s team included Claes Albinsson, the client responsible partner, with Zoran Stambolovski advising on acquisition financing, primarily assisted by Ola Espelund, and Jürgen Busch handling competition issues, primarily assisted by Alexander von Kleist and Helena Ramadori.