Utah Medical Products Firm Plans to Acquire Neuro Navigational
COSTA MESA —
Ballard Medical Products, a Utah medical products manufacturer, plans to acquire Neuro Navigational Corp., a Costa Mesa developer of fiber-optic imaging technology and micro-tools for brain surgery.
Financial terms weren’t disclosed.
Neuro said Ballard had an option under a July 1995 agreement to acquire Neuro’s assets. As part of that agreement, Ballard had acquired a 19.5% stake at the time.
Details of the option weren’t disclosed.
The acquisition is expected to occur by March 20.
Neuro also said it and Target Therapeutics have mutually agreed to terminate their agreement under which Target distributed certain of Neuro’s products in Japan on an exclusive basis.
