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Heart devices maker Sorin buys California Med Labs for $14M

Fri, 07/06/2012 - 3:25pm
Mass Device

Cardiovascular devices maker Sorin Group acquires California Medical Laboratories in a $14 million merger.

M&A

Euro healthcare giant Sorin Group (BIT:SRN) shelled out $14M for cannula-maker California Medical Technologies as it aims to increase its presence in the medical device market.

CalMed manufactures and distributes a range of cannulae, catheters and accessories for cardiac surgery that are currently available in 45 countries. The devices have approval from both CE Mark countries and the U.S. FDA.

The acquisitions complements Sorin's recent grab of minimally invasive cannulae maker Estech, a deal which closed last year.

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