(RTTNews) - Medical devices company Vascular Solutions, Inc. (VASC: News ) said Thursday it has acquired the assets of Zerusa Limited for 3.15 million euros or US$4.3 million. The deal allows the company to have sole control for the sale of Guardian hemostasis valves in the U.S. and abroad.
As per the terms, Vascular will pay 2.85 million euros or US$3.9 million at closing and 0.3 million euros or US$0.4 million six months after closing.
Vascular said the acquisition will be accounted for as a business combination in the first quarter of 2011. The company expects the deal to be accretive to earnings by about $0.01 per share in 2011, with insubstantial transition and integration costs incurred in the first quarter of 2011.
Zerusa is an Ireland based medical device company, which makes Guardian hemostasis valves that are are designed to maintain hemostasis during interventional catheterization procedures.
Vascular Solutions has been selling the Guardian hemostasis valves in the U.S. under an exclusive distribution relationship with Zerusa since 2007.
In 2010, worldwide sales of the Guardian hemostasis valves were $1.7 million, consisting of $1.3 million in sales
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