ArthroCare Corp. (NSDQ:ARTC) sold its Parallax and Contour product lines to NeuroTherm for $5.5 million.
The two lines of spine products were previously reported as discontinued operations.
Wilmington, Mass.-based NeuroTherm manufactures products used in pain management, including the first multi-lesion radiofrequency generator on the market, according to a company release.
“ArthroCare’s Parallax portfolio is a natural fit with NeuroTherm’s existing competencies in interventional pain management, allowing us to leverage our clinical expertise and strong sales channels,” said NeuroTherm CEO Larry Hicks in a release. “This is an exciting opportunity that will enable us to expand our customer base into new markets while offering our existing customers more treatment options for their patients.”
Arthrocare expects an after-tax gain of $1.2 million from the sale in its second quarter, according to the SEC filing.
Here’s a roundup of companies announcing mergers, acquisitions and divestitures.
- Mindray to buy urine analysis company
Mindray Medical International Ltd. (NYSE:MR) agreed to acquire a controlling stake in Suzhou Hyssen Electronics Co. Ltd, a China-based maker of automated urine sediment analyzers. The details of the agreement were not disclosed, as the transaction is non-material to Mindray’s financial statements, according to a company release. Oppenheimer analysts reiterated their “outperform” rating on the company’s stock today, Benzinga reported.
- Fresenius completes dialysis service acquisition
Fresenius Medical Care AG (NYSE:FMS) completed its acquisition of Euromedic’s International Dialysis Centers, effective June 30, 2011. Fresenius first announced the acquisition in January of this year. The deal will add about $180 million in annual revenue and will be accretive in the first year, the company said at the time. The details of the transaction were not made public.