Abiomed Buys Germany-based ECP

(RTTNews) - Abiomed, Inc. (ABMD) said Tuesday that it has acquired ECP Entwicklungsgesellschaft mbH, a medical device company based in Berlin, Germany.

Abiomed acquired all outstanding shares of ECP from Syscore GmbH for about $13 million in cash, with potential long-term payouts of $7 million for CE Marking approval and $8 million for achieving aggregate worldwide revenue of $125 million for products utilizing ECP patents.

In connection with the acquisition, Abiomed has also acquired through ECP, AIS GmbH Aachen Innovative Solutions for about $2.75 million. AIS is headquartered in Aachen, Germany and is the owner of certain IP rights related to ECP's development efforts.

ECP is developing a product that is a percutaneous, expandable catheter pump which increases blood circulation from the heart with an external drive shaft. ECP holds patents or patent applications in over 40 patent families, valid with expirations up to year 2033. Those patents will be added to the approximately 100 patents and patent applications from the Impella( device.

The ECP facility in Berlin and its employees will report into the Abiomed EU headquarters located in Aachen, Germany.