Endoscope3 Feb 2007 07:55
Now , I know this is Ears , Nose , and Throat but look at what the sheath part of the endoscope in this company is worth !
"Tuesday, January 16, 2007
Endoscope maker to sell some assets
Endoscope maker Vision-Sciences Inc., of Natick, said it will sell assets related to the production of its ENT sheath products to Medtronic Xomed Inc., a unit of Medtronic Inc., for $34 million.
Vision-Sciences also granted Medtronic an exclusive royalty-free license to EndoSheath intellectual propertyl.
Of the total purchase price, $27 million is due at closing. An additional $4 million will be paid upon reaching certain milestones, and another $3 million will be paid about 15 months after closing.
Vision-Sciences will transfer its production lines for EndoSheath ENT product from Natick to Medtronic's Jacksonville, Fla., facility.
The two companies also amended an existing agreement on EndoSheath products, giving Medtronic the right to sell them worldwide and to sell Vision-Sciences' endoscope products on a co-branded basis.
Shares of Vision-Sciences rose 5 cents, or 3.8 percent, to close at $1.38 on the Nasdaq, and then jumped 12 cents, or 8.7 percent, to $1.50 in aftermarket electronic trading. Shares of Medtronic rose 79 cents to close at $54.51 on the New York Stock Exchange.
(AP)
http://www.boston.com/business/ticker/2007/01/endoscope_maker.html
http://www.visionsciences.com/vsi-products/slide-on-endosheath.html