ev3 and FoxHollow complete merger.
ev3 and FoxHollow Technologies have completed their previously announced merger for approximately US$780 million. Under the agreement, ev3 has now acquired all the outstanding shares of FoxHollow common stock, resulting in FoxHollow becoming a wholly owned subsidiary of ev3. The company’s combined product portfolio will include a broad spectrum of products to treat vascular disease in both the peripheral and neurovascular markets, including atherectomy and thrombectomy, PTA balloons, stents, embolic protection devices, infusion catheters/wires, embolic coils and liquid embolics. The combined company’s ownership composition consists of approximately 41% from FoxHollow stockholders and 59% from ev3 stockholders. In addition to Dr John Simpson, who will serve as the Vice Chairman of the Board, ev3 will add three other former directors of FoxHollow to the ev3 Board.