Getinge buys Atrium Medical for $680M

Maquet Cardiovascular, a subsidiary of Sweden's Getinge Group, is paying $680 million to acquire U.S.-based medical device company Atrium Medical. The move marks Getinge's largest acquisition in four years.

Atrium makes medical device technologies for interventional cardiology and radiology, chest trauma care, thoracic drainage, vascular surgery and general surgery. "In the past 5-year period, Atrium Medical has grown an average of 19% annually and its sales are expected to reach slightly more than $200 million in the current calendar year," explained Getinge said in a statement. The move will help bolster Maquet's cardiac device business.

Atrium employs 700 people worldwide, with 450 positions located at the med tech's headquarters in New Hampshire. Current Atrium president Trevor Carlton will continue to head up the company, which will operate as an independent unit, and no jobs are expected to be cut as a result of the buyout.

"We believe the similarities in our cultures and business focus, coupled with our ability to continue to work independently will allow our sales team, researchers and scientists to unlock the value of the core technologies that have driven our success to date," noted Carlton in a release.

- see the release
- here's more from Reuters