Cook Group Incorporated, a privately held group of medical device companies, has agreed to an acquisition offer from Guidant Corporation in a stock-for-stock transaction worth up to $3 billion.
Cook brings a strong portfolio of advanced technologies in interventional medicine to Guidant, including drug-eluting stents.
Under the agreement, Guidant will acquire Cook Group Incorporated, the parent company of Cook Incorporated; Cook Urological; Sabin Corp; Wilson-Cook Medical Inc; Cook Ireland LTD; William Cook Europe ApS and William A. Cook Australia.
Other Cook-owned sales and distribution companies around the world are also included in the deal.
‘We are pleased to enter into this agreement with Guidant as it brings us closer to our mutual goal of advancing breakthrough medical technologies to patients, clinicians and other key constituents around the world,’ said William A. Cook, founder and chairman of the board of Cook Group Incorporated.
The closing of the sale will take several months and is expected to be completed by early 2003.