Medos Medizintechnik AG to buy Gish Biomedical from CardioTech
12 July 2007 Stolberg, Germany. MEDOS Medizintechnik AG, developer and
manufacturer of medical devices for cardiac surgery, extracorporeal membrane
oxygenation (ECMO) and ventricle assist devices, has agreed to buy Gish
Biomedical Inc., a subsidiary of CardioTech International Inc. (AMEX: CTE),
developer and manufacturer of advanced materials and medical devices for the
treatment of cardiovascular and other diseases. Dr Thomas Theisen, Chief
Sales Officer, MEDOS, said, “The acquisition of Gish represents an excellent
opportunity to achieve a significant position in the US market for
disposable medical products used in cardiopulmonary surgery. Buying Gish
also provides a solid platform for selectively introducing MEDOS’ innovative
products from the ECMO and VAD product lines to the US market using the well
respected Gish brand. MEDOS has the structure to capitalize on combining two
strong
R&D programs in the global medical device marketplace.” CardioTech
President and CEO Michael Adams said, “The sale of Gish provides MEDOS with
an excellent opportunity to enter the US market. CardioTech’s direction is
targeted to being a world class technology business focused on
customer-driven solutions in the medical device industry.” MEDOS
Medizintechnik has offices in Germany, France and China. To
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