M&A Deal Summary

Cordis Acquires Angioguard

On July 7, 1999, Cordis acquired medical products company Angioguard from Arcade Partners and SightLine Partners

Acquisition Highlights
  • This is Cordis’ 1st transaction in the Medical Products sector.
  • This is Cordis’ 1st transaction in the United States.
  • This is Cordis’ 1st transaction in Minnesota.

M&A Deal Summary
Date 1999-07-07
Target Angioguard
Sector Medical Products
Buyer(s) Cordis
Sellers(s) Arcade Partners
SightLine Partners
Deal Type Add-on Acquisition

Target

Angioguard

Minneapolis, Minnesota, United States
Angioguard, Inc. is a developer of medical devices for coronary and carotid interventional applications.

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Buyer(S) 1

Buyer

Cordis

Miami Lakes, Florida, United States
Category Company
Founded 1966
Sector Medical Products
Revenue 780M USD (2014)
DESCRIPTION

Cordis is a provider of cardiovascular and endovascular medical devices. Founded in 1966, the Company has a long history of innovation in high-quality and minimally-invasive cardiovascular technology. Its products are primarily used in procedures to diagnose and treat the narrowing or blockage of arteries. Cordis was founded in 1966 and is based in Miami Lakes, Florida.

DEAL STATS #
Overall 1 of 4
Sector (Medical Products) 1 of 3
Type (Add-on Acquisition) 1 of 4
State (Minnesota) 1 of 1
Country (United States) 1 of 3
Year (1999) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-28 LuMend

Redwood City, California, United States

LuMend, Inc. develops a full range of advanced product platforms that target chronic total occlusions in the rapidly growing peripheral vascular market. The company is focused on delivering technology and services to interventional cardiologists, radiologists and vascular surgeons specializing in endovascular techniques for the treatment of peripheral vascular disease.

Buy -

Seller(S) 2

SELLER

Arcade Partners

West Hartford, Connecticut, United States

Investor Investor

Category Private Equity Firm
Founded 2003
Size Small
Type Sector Agnostic
DESCRIPTION

Arcade Partners is a private investment partnership that targets middle market buyouts and recapitalizations. Arcade seeks light manufacturing and service based businesses with recurring revenues. Arcade targets profitable companies with minimum EBITDA of $4 to $25 million. Arcade Partners is based in West Hartford, Connecticut.

DEAL STATS #
Overall 2 of 6
Sector (Medical Products) 1 of 1
Type (Add-on Acquisition) 2 of 3
State (Minnesota) 1 of 1
Country (United States) 2 of 6
Year (1999) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-03-09 American Cellular corp.

Franklin, Tennessee, United States

American Cellular was one of the largest independent rural cellular telephone system operators in the U.S. The Company owned and operated non-wireline FCC-licensed cellular telephone systems primarily in rural areas of the Midwestern and Eastern portions of the U.S. American Cellular was acquired by a joint venture between AT&T and Dobson.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-02-26 American Cellular corp.

Franklin, Tennessee, United States

American Cellular was one of the largest independent rural cellular telephone system operators in the U.S. The Company owned and operated non-wireline FCC-licensed cellular telephone systems primarily in rural areas of the Midwestern and Eastern portions of the U.S. American Cellular was acquired by a joint venture between AT&T and Dobson.

Sell $2.4B
SELLER

SightLine Partners

Bloomington, Minnesota, United States

Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2004
Size Small
Type Sector Focused
DESCRIPTION

SightLine Partners is a private investment firm that targets early to late stage investments in growing healthcare and medical technology companies. Depending on the maturity of the company, Sightline will invest between $2 and $8 million per transaction. SightLine prefers US based opportunities. SightLine Partners LLC was formed in 2004 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 3 of 16
Sector (Medical Products) 3 of 15
Type (Add-on Acquisition) 2 of 12
State (Minnesota) 1 of 5
Country (United States) 3 of 16
Year (1999) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-12-01 Endovascular Technologies

Menlo Park, California, United States

Endovascular Technologies, Inc. is a designer and manufacturer of minimally invasive endovascular systems to repair diseased or damaged vascular structures.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-09-01 Exogen

Piscataway, New Jersey, United States

Exogen, Inc. provides medical technologies focused on the biophysical treatment of musculoskeletal injury and disease.

Sell -
Mergr

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