Datascope Sells Vascular Closure Business

Medical device maker Datascope has sold its vascular closure unit to St. Jude Medical for $24 million.

The Montvale, NJ-based company will receive $21 million upfront, plus $3 million after an 18-month indemnification period expires.

“We are pleased to complete this transaction, which enhances our focus on Datascope’s continuing businesses; Cardiac Assist and InterVascular,” Antonino Laudani, the company’s chief operating officer, said in a statement. “As we move forward, we will continue our efforts to optimize Datascope’s asset portfolio and drive value for our shareholders.”

SOURCE: The Star-Ledger