The proposed $900 million purchase of SAES Getters' medical nitinol branch by Resonetics has been cleared by the Federal Trade Commission.
At the start of this year, Californian Medical Device Specialist, Menlo Park Resonetics, announced ambitions to acquire both Memry Corp and SAES Smart Materials from Italian holding company SAES Getters.
“proposed $900 million purchase of SAES Getters' medical nitinol branch has been cleared “
According to Resonetics' Chief Executive Officer Tom Burns, the acquisition would render the company a major nitinol supplier in the Medical Device sector. Nitinol is a metal alloy with exceptional form retention and elasticity, often utilised in cardiac, vascular, and orthopaedic surgeries.
In the spring, the FTC sent the businesses another inquiry for information under the Hart-Scott-Rodino Antitrust Improvements Act.
Without taking into account the impact of currency exchange rates, SAES Getters' medical nitinol division recorded sales of almost 122 million euros last year, a 26% rise from the previous year.
They plan to announce when they anticipate the acquisition to finalize in the upcoming days.
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