Boston, MA - Capstone Partners LLC, a leading national investment banking firm, announced that it has successfully advised Radius Medical Technologies, Inc. on its sale of assets related to the EXPRO EliteTM and MICRO EliteTM snare products to Vascular Solutions, Inc. Also included in the asset acquisition are the QUATTRO EliteTM and SYMPRO EliteTM snares and the OracleTM retrieval system, all of which are either recently launched or in development. Vascular Solutions has been selling the EXPRO EliteTM and MICRO EliteTM snares in the U.S. under a distribution relationship with Radius since 2008, while in international markets Radius has been selling the products through a network of independent distributors.
"We are excited about owning the EXPRO Elite and MICRO Elite snares and capturing the entire margin on the sale of the product while adding international sales," commented Howard Root, Chief Executive Officer of Vascular Solutions. "Upon completion of the manufacturing transfer we expect to be able to both improve our gross margin and adopt more competitive pricing to gain market share in the existing $35 million snare market. We also look forward to launching the QUATTRO Elite and SYMPRO Elite snares either late this year or early in 2011 and to explore the possibilities with the Oracle retrieval system," Mr. Root added.
Radius Medical Technologies, Inc. is a privately held corporation based in Acton, MA, specializing in the design, development and marketing of minimally invasive medical devices for treating cardiovascular disease. Since 1991, Radius' competitive advantage has been its ability to create high value, high performance, guidewire-based instruments to extend access throughout the vasculature.
Vascular Solutions, Inc. is an innovative medical device company that focuses on developing unique clinical solutions for coronary and peripheral vascular procedures. The company's product line consists of over 50 products in three categories: catheter products, hemostat products and vein products. Vascular Solutions delivers its products to interventional cardiologists, interventional radiologists and vascular surgeons through its direct U.S. sales force and international distributor network.