MIV Therapeutics to acquire Vascore Medical for $4 million

By Angela McDaniels

Seattle, Sept. 13 - MIV Therapeutics, Inc. said it has entered into a formal agreement to acquire Vascore Medical (Suzhou) Co., Ltd., a China-based manufacturer of cardiovascular stents and other medical devices.

MIV's proposed purchase calls for the payment 4 million restricted common shares at $1 per share over a period of time and subject to certain escrow milestones to be obtained in the next few months.

The acquisition will combine MIV's "next generation of biocompatible HAp stent coatings with Vascore's field-tested stent business and strong manufacturing operations" and give MIV a "significant presence in China, one of the world's fastest-growing cardiovascular stent markets," president Mark Landy said in a MIV news release.

MIV is based in Vancouver, B.C., and develops biocompatible coatings and drug-delivery systems for cardiovascular stents and other implantable medical devices.

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