Angiotech Acquires American Medical Holdings

Angiotech Pharmaceuticals announced that it has closed the previously announced acquisition of American Medical Instruments Holdings, Inc., a leading independent manufacturer of specialty, single-use medical devices, for approximately $785 million in cash subject to post- closing adjustments. The transaction provides Angiotech with global manufacturing, marketing, and sales capabilities and enhances the Company’s ability to capitalize on its current product pipeline in a wide range of specialty therapeutic areas. The acquisition of AMI also significantly diversifies Angiotech’s revenue base.
    Thomas Bailey, CFO of Angiotech, said, “The hard work and dedication of our transaction team and advisors has enabled us to close the AMI acquisition well ahead of our original schedule, and we look forward to working with our new colleagues.”
    Dr. William L. Hunter, president and CEO of Angiotech, added, “The acquisition of AMI provides us with people and resources to capture greater value from our drug and biomaterial technologies and our product pipeline, and will diversify our revenue base. With the strong contributions of our new partners at AMI, we believe we can establish a solid foundation for continued growth.”