Micro Therapeutics to Buy German Firm
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Micro Therapeutics Inc. of Irvine agreed to buy Germany-based Dendron for as much as $40 million in cash, gaining a maker of products used to treat brain aneurysms.
The medical-devices maker will pay $25 million in cash when the purchase closes and may pay an additional $15 million based on whether Dendron’s products reach sales targets, Micro Therapeutics said.
The purchase of Dendron will give Micro Therapeutics a broader range of products, the statement said. It’s expected to close on or after the end of the month.
Micro Therapeutics shares rose 4 cents to $2.07. They’ve dropped 63% in the past year. Company officials couldn’t be reached.
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