Vascular Solutions Inc. (Nasdaq: VASC) has acquired for $5.75 million two vein-access technologies that are used in ultrasound procedures.
The company expects the new products to begin paying immediate dividends and upped its full-year guidance by $2 million.
The two products — Smartneedle and PDaccess — come from Wayne, Penn.-based Escalon Medical Corporation (Nasdaq: ESMC), according to a statement from Vascular Solutions.
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The acquired technologies consist of an handheld monitor and one-time use needles designed to provide ultrasound-guided access to arteries and veins during catheterization procedures. Their combined annual sales amount to $3.8 million, according to the statement.
Ultrasound procedures involve using high-frequency sound waves to look at organs and structures inside the body.
Vascular Solutions’ sales team will immediately take over sales of the new products. Manufacturing will transition to Vascular Solutions over the next four months.
“The products fit nicely into our existing product portfolio and customer call point that can be reached by our existing 87-person U.S. sales force,” said Howard Root, Vascular Solutions’ chief executive.
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As a result of the acquisition, Vascular Solutions upped its full-year sales guidance by $2 million to between $78 million and $80 million. The company raised its net income guidance by two cents a share to between 55 cents and 59 cents per diluted share.
Late last month, Vascular Solutions reported its first-quarter financial results. Sales jumped 15 percent to $18 million, while earnings came in at $1.2 million, excluding special items. Root attributed the sales growth in part to the better-than-expected performance of the company’s GuideLiner catheter, which received federal regulatory approval in November.
The company’s product line includes catheters, as well as blood-clotting and varicose-vein products.
