HEALTH
From Times Staff and Wire Reports
Heart Products Makers Agree to Merge: In a $13.9-million definitive agreement, Cardiotronics Systems Inc. and R2 Medical Systems Inc. said Cardiotronics will begin a tender offer within five days for all outstanding common shares of R2 Medical for $5.25 each in cash. Carlsbad, Calif.-based Cardiotronics said it will purchase 1 million R2 Medical common shares from Ventana Growth Fund II LP at $6.50 each following the tender offer. R2 designs, develops and manufactures a line of disposable self-adhesive cardiac electrode pads used to administer electrical shocks to patients in cardiac arrest. Cardiotronics develops and manufactures disposable emergency medical devices.
