Angiotech Pharmaceuticals to acquire Quill Medical Inc.
Angiotech Pharmaceuticals, Inc. announced that it has entered into a definitive agreement to acquire privately held Quill Medical, Inc., a provider of specialized, minimally invasive aesthetic surgery and wound closure technology, for US $40 million in cash, plus certain future contingent payments based on product revenues. Through this transaction, Angiotech will acquire all of Quill's technology and intellectual property, including the Contour Threads(TM) product line, which under its current license agreement is marketed and sold by Angiotech's Surgical Specialties division for use in aesthetic and cosmetic surgery.
The acquisition of Quill is subject to customary closing conditions, including the final approval of the shareholders of Quill, and is expected to close by the third quarter of 2006.
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