MILAN, Italy, Apr 12, 2010 (BUSINESS WIRE) -- Sorin Group, (MIL:SRN), a global company and a leader in the treatment of cardiovascular diseases, announced today that it has completed the sale, for $7 million (EUR5.25 million) in cash paid in installments over two and a half years, of the Angel(R) Whole Blood Separation System ("Angel(TM)") and activAT(R) Autologous Thrombin Processing Kit ("activAT(R)") product lines to Cytomedix, Inc. (GTF 0.90, -0.05, -5.26%), a leading developer of biologically active regenerative therapies for wound care, inflammation and angiogenesis. Together these products had sales of approximately $5 million (EUR3.75 million) in 2009.
Angel(TM) consists of a blood processing device and disposable products used for separation of whole blood into red cells, platelet poor plasma and platelet rich plasma ("PRP"); activAT(R) is designed to produce autologous thrombin serum from platelet poor plasma, providing a completely autologous, safe alternative to bovine-derived products.
"We are pleased to enter into an agreement to sell these non-core assets to Cytomedix, and we count on Cytomedix to maintain the same high level of customer service, support and product excellence that our customers have come to expect from Sorin", said Michel Darnaud, President, Cardiopulmonary Business Unit.
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