EndoSonics to Cut Stake
Bloomberg News
IRVINE —
EndoSonics Corp. said it will distribute to its shareholders an 8% stake in Irvine-based CardioVascular Dynamics Inc., which once was owned by the Rancho Cordova company. The move will cut EndoSonics’ stake in CardioVascular to 25%, or 2.21 million shares, from 33%.
CardioVascular makes devices to strengthen blood vessels. EndoSonics, which makes ultrasound imaging systems, spun off most of CardioVascular in June 1996.