01.03.14
AtriCure Inc., provider of atrial fibrillation devices, has completed the acquisition of Endoscopic Technologies Inc., which does business as Estech. Estech offers surgical ablation devices designed to enable physicians to perform a variety of traditional and minimally invasive procedures using Estech’s proprietary temperature controlled RF (radiofrequency) energy.
“We are pleased to complete the acquisition of Estech, and we welcome the team to AtriCure,” said Mike Carrel, President and CEO of AtriCure. “This transaction provides substantial benefits to AtriCure and strengthens our leadership position in the atrial fibrillation market; we are excited about the opportunities that our combined businesses will bring to our customers.”
At the time of the announcement of the acquisition in late 2013, Carrel noted that “the combination of the two companies enhances AtriCure’s ... intellectual property position across surgical ablation and epicardial left atrial appendage (LAA) closure and accelerates the availability of broader surgical ablation offerings through the combination of Estech’s sales and marketing and research and development capabilities worldwide under the AtriCure umbrella.
AtriCure expects that the transaction will increase sales and marketing expense as well as research and development expenditures in order to accelerate clinical development and commercial sales of the combined product portfolio. While these expenses will increase on absolute dollar basis, AtriCure expects these expenses to decrease as a percentage of sales beginning in 2015.
AtriCure is based in West Chester, Ohio, while Estech calls San Ramon, Calif. home.
“We are pleased to complete the acquisition of Estech, and we welcome the team to AtriCure,” said Mike Carrel, President and CEO of AtriCure. “This transaction provides substantial benefits to AtriCure and strengthens our leadership position in the atrial fibrillation market; we are excited about the opportunities that our combined businesses will bring to our customers.”
At the time of the announcement of the acquisition in late 2013, Carrel noted that “the combination of the two companies enhances AtriCure’s ... intellectual property position across surgical ablation and epicardial left atrial appendage (LAA) closure and accelerates the availability of broader surgical ablation offerings through the combination of Estech’s sales and marketing and research and development capabilities worldwide under the AtriCure umbrella.
AtriCure expects that the transaction will increase sales and marketing expense as well as research and development expenditures in order to accelerate clinical development and commercial sales of the combined product portfolio. While these expenses will increase on absolute dollar basis, AtriCure expects these expenses to decrease as a percentage of sales beginning in 2015.
AtriCure is based in West Chester, Ohio, while Estech calls San Ramon, Calif. home.