Sorin Group Acquires Oscor’s CRM Lead Business

Sorin Group has purchased Oscor Inc.’s lead business, including a lead manufacturing facility in the Dominican Republic for  approximately $20 million (15.4 million euros).

Oscor, headquartered in Tampa, Fla., is one of the largest independent players in the development and manufacture of cardiac leads and catheters. With more than 400 employees and manufacturing facilities in the United States and the Dominican Republic, Oscor sells its products both to end-customers and to leading medical device companies, including Sorin Group, on an OEM basis.

“Oscor has chosen to divest part of its Oscor branded lead product line to focus further on its catheters business and custom OEM lead development under contract manufacturing, that are currently experiencing strong growth,” Oscor President/CEO Thomas Osypka said. “We believe this acquisition validates the quality of Oscor products as well as state-of-the-art manufacturing facilities derived from our experience in the design, development and manufacturing of implantable cardiac leads.”

Under the agreement, Sorin Group acquires Oscor-branded and OEM for Sorin bradycardia lead business; design files and development resources for the development of magnetic resonance imaging (MRI) compatible tachycardia and left ventricular leads; and one of Oscor’s fully-equipped lead manufacturing facility, ISO certified and registered with the U.S. Food and Drug Administration, based in the Dominican Republic.

Sorin Group expects the acquisition to generate additional revenues from Oscor’s existing lead business and consolidate its MRI compatible brady leads that currently are produced by Oscor. In addition, the agreement provides Sorin with an opportunity to further develop Oscor’s brady and tachy leads to accommodate upcoming market requirements for MRI.

“This acquisition is a tremendous opportunity for Sorin Group. Oscor-branded and OEM leads provide us with products which will complement our existing lead portfolio and offer us new opportunities to better respond to our customers’ future needs for MRI compatible systems,” said Stefano Di Lullo, Sorin Group, President of the CRM (Cardiac Rhythm Management) Business Unit. “In addition, the new manufacturing facility in the Dominican Republic will better position us to deliver high-quality leads to our customers at the best possible value.”

The transaction is subject to customary closing conditions.

Oscor Inc. designs, develops, manufactures and markets highly specialized implantable cardiac pacing leads, venous access systems and diagnostic catheters. Oscor also is leveraging its proprietary lead technologies toward the development of new lead systems for a variety of cardiac and non-cardiac applications. Oscor sells its products in more than 35 countries outside the United States.

Sorin Group develops, manufactures and markets medical technologies for cardiac surgery and the treatment of cardiac rhythm disorders. With 3,750 employees worldwide, the company focuses on two major therapeutic areas: cardiac surgery (cardiopulmonary products for open heart surgery and heart valve repair or replacement products) and cardiac rhythm management (pacemakers, defibrillators and cardiac resynchronization devices).