Printer Friendly

INNOVEX ACQUIRES MEDICAL BUSINESS ASSETS

 HOPKINS, Minn., Sept. 27 /PRNewswire/ -- Innovex, Inc. (NASDAQ-NMS: INVX) today announced it has completed purchasing the assets of Daig Corporation's (NASDAQ: DAIG) permanent pacemaker lead wire and adapter business.
 Under terms of the cash transaction, Innovex acquired the production equipment and processes, patents, trademarks and related assets of Daig's permanent pacemaker lead business. Daig is a Minnesota-based manufacturer of cardiovascular products.
 Steven C. Waldron, Innovex's president and chief operating officer, said the pacemaker lead business represents a solid, strategic fit with Innovex's established expertise in wire technology.
 He said this business will be operated by Innovex's Medical Products Division, which was formed recently to pursue selected opportunities in the medical market. This business is expected to contribute to Innovex's revenue stream within 6 to 12 months, pending the issuance of various government approvals.
 Innovex, which expects to report record earnings for the fiscal year ended Sept. 30, 1993, is the nation's largest manufacturer of lead wire assemblies for thin-film disk drives. The company's common stock is traded on the National Market System under the NASDAQ symbol INVX.
 -0- 9/27/93
 /CONTACT: Thomas W. Haley, chairman, or Steven C. Waldron, president, of Innovex, 612-938-4155/
 (INVX)


CO: Innovex, Inc. ST: Minnesota IN: CPR SU: TNM

AL-DB -- MN012 -- 5926 09/27/93 12:32 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 27, 1993
Words:213
Previous Article:UNOCAL BOARD OF DIRECTORS INCREASES QUARTERLY DIVIDEND BY 14 PERCENT
Next Article:HELENE CURTIS REPORTS SECOND QUARTER SALES AND EARNINGS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters