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Biotech / Medical : Angeion Corp. (ANGN)
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To: ewolf who wrote (991)3/4/1999 5:48:00 PM
From: jean  Read Replies (2) of 1046
 
ewolf and all ANGN... Here's an interesting post from Yahoo. Jean

This is my first and probably last post (you have raised an interesting question).

Yes, Angeion has had other offers. A complication is Angeion's involvement with ELA. To do a deal with
someone else they must get untangled from the ELA joint venture. Angeion does have a very serious suitor
in a European company other than ELA. This company was a bidder against Guidant in the Intermedics
deal.

There are major market forces at play. ELA, Sorin, Angeion and perhaps even Biotronic MUST join forces
or do some consolidation to compete against megacompanies like Guidant (recent acquisitions include
Incontrol and Intermedics), Medtronics and St. Jude. Small companies will no longer be viable in the pacer
and ICD bus. Bundling, Dr. support (in and outside the OR), HMO massive buying plans, fast product to
market cycles are just a few reasons.

These European companies now have to join/consolidate to survive and they also must have an ICD. ELA
has their own ICD, however, it is technologically way behind Angeion's 2020/2030. They must also be
ready for the next products including devices that treat AF and/or all four chambers. Treatment of
congestive heart failure with leads implanted in all four chambers will also be a big market.

Angeion's impending FDA approval is a very big deal. Not only will it validate a meaningful product, but
also will bring in $10M from ELA as part of their contracts. It will also be the last hurdle in bringing a deal
together of some sort with the European Companies that I spoke of. Change is also afoot at ELA (new
owners).

The next four to eight weeks should be very interesting.
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