Summary

Other Scenarios:

Buyer: Arrow International, Inc. (ARRO) Last Price: 32.09 Market Cap.: 1.44B
Target: Immucor, Inc. (BLUD) Last Price: 21.19 Market Cap.: 1.43B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
*Healthcare 864
Biopharmaceuticals   321
Medical Devices 243
Scientific Products   42

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Sample Products in Similar Lines of Business

Sample Products in Complementary Lines of Business
Buyer (Total: 86)
  • 7cc Luer Slip Loss of Resistance Syringe
  • Single Shot Epidural Anesthesia Kit
  • FlexTip Plus/TheraCath Epidural Kit
  • Epidural Needle Series
Target (Total: 59)
  • Gamma Slide Pregnancy Test
  • CSW 100 Washing System
  • Hamilton AT Plus Liquid Handler
  • Capture System
Buyer
  • ChloraPrep
Target
  • IBG Plate Shaker
  • Heat Block Incubator
  • Heat Block Thermometer
  • Sorvall T6000D Centrifuge

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 1)
  • QAD Inc. (QADI)
Target (Total: 4)
  • Millipore Corporation (MIL)
  • STRATEC Biomedical Systems AG
  • Canadian Blood Services
  • Lionheart Technologies, Inc.
Buyer (Total: 0)

n/a
Target (Total: 3)
  • Duke University Medical Center
  • Kiwi Ingenuity Limited
  • Blood Systems Laboratories

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 3,700 563
Revenue Per Employee 132,532.8 357,816.0
Total Revenue 122.3 50.0
Total Expenses 103.0 31.2
Other Revenue 0.0 0.0
Cost of Revenue 63.0 15.8
SG&A Expense 32.6 14.0
Research & Development 7.2 1.2
Other Operating Expense 0.0 0.0
Operating Income 19.3 18.7
Unusual Income 0.1 0.1
LT Debt to Capital 0 0
Fwd P/E 26.06 28.47
Fwd P/Rev 3.03 6.69
Book Value 506.1 143.9
Curr Portion of LTD/Cap Lease 1.0 1.1

Key Ratios

  Buyer Target
Gross Margin % 46.76 66.23
Operating Margin % 12.5 34.35
Quick Ratio 1.99 3.33
Current Ratio 3.1 4.33
Coverage Ratio 0.05 0.01
Total Assets 643.9 191.7
Return on Equity % 8.58 27.69
Return on Assets % 6.74 20.78
Cash+ ST Inv. Per Share 2.94 0.79
Total Debt 53.2 1.1
Total Debt to Equity % 10.51 0.75
Total Debt to Tangible Equity % 12.82 1.02
Debt to Asset % 8.26 0.56

Individual Company Summary

Focused

Buyer

Focused (): *Healthcare > Medical Devices > Drug Delivery > Infusion Therapy > Vascular Access

Target

Focused (): *Healthcare > Medical Devices > Transfusion Medicine > Immunohematology

Business Description

Buyer

Arrow International, Inc. develops, manufactures and markets a range of clinically advanced, disposable catheters and related products for critical and cardiac care. The Company's critical care products are used principally for central vascular access in the administration of fluids, drugs and blood products, patient monitoring and diagnostic purposes. These products are used by anesthesiologists, critical care specialists, surgeons, cardiologists, nephrologists, emergency and trauma physicians, and other healthcare providers. Arrow's cardiac care products are used by interventional cardiologists, cardiac surgeons, interventional radiologists and electrophysiologists for purposes, such as the diagnosis and treatment of heart and vascular disease, and to provide short-term cardiac assist following cardiac surgery, serious heart attack or balloon angioplasty.

Target

Immucor, Inc. (Immucor) develops, manufactures and sells a complete line of reagents and automated systems used primarily by hospitals, clinical laboratories and blood banks in a number of tests performed to detect and identify certain properties of the cell and serum components of human blood prior to blood transfusion. On July 5, 2005, the Company acquired Immucor-Kainos, Inc., a newly formed company. The Company operates facilities in North America, Europe and Japan.

Product Summary

Sector Buyer Target
*Healthcare
Biopharmaceuticals  
Infectious Diseases
The Infectious Diseases Subsector includes therapeutics that treat diseases caused by the invasion and reproduction of microorganisms in the body.
  
Surgery
The Surgery Subsector includes therapeutics that treat complications associated with surgical procedures.
  
Medical Devices
Anesthesiology
The Anesthesiology Subsector includes medical devices that deliver and monitor anesthetics.
  
Cardiology
The Cardiology Subsector includes medical devices that diagnose, monitor, and treat diseases affecting the heart and proximal blood vessels. Common devices include vital sign monitors, cardiac defibrillators, pacemakers, and other surgical equipment.
  
Clinical Diagnostics
The Clinical Diagnostics Subsector includes medical devices that analyze human body specimens within a medical setting. These devices, including equipment, biological and chemical reagents are primarily used for the diagnosis of diseases.
Drug Delivery
The Drug Delivery Subsector includes medical devices that facilitate the delivery of medications through different anatomical entryways, including blood vessels, skin, the mouth, and the lungs. Common devices in this sector include vascular access catheters, needles, implants, and inhalers.
  
General Surgery
The General Surgery Subsector includes medical devices that perform general, non-specialty surgeries; these devices are often general in scope and are used in procedures involving various parts of the body.
  
Neonatology
The Neonatology Subsector includes medical devices that diagnose, monitor and treat diseases of newborns.
  
Oncology
The Oncology Subsector includes medical devices that detect and treat cancers.
  
Respiratory
The Respiratory Subsector includes medical devices that diagnose and treat respiratory diseases.
  
Transfusion Medicine
The Transfusion Medicine Subsector includes medical devices and accessories that prepare or implement blood transfusion.
  
Urology
The Urology Subsector includes medical that diagnose and treat urinary tract and male reproductive disorders.
  
Vascular
The Vascular Subsector includes medical devices that diagnose and treat of conditions affecting the blood vessels.
  
Scientific Products  
Bioanalytical Instruments
The Bioanalytical Instruments Subsector includes scientific products, devices and apparatuses that determine the quantitative and qualitative nature of a biological samples.
  
General Laboratory Equipment
The General Laboratory Equipment Subsector includes products that are used during routine laboratory procedures, such as sample preparation, processing, storage, cleaning, and purification.
  

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Product Details

Sector Buyer Target
*Healthcare
Biopharmaceuticals  
Infectious Diseases  
Bacterial  
Antibacterial Agents  
Broad Spectrum  
Antiseptic Agents
Therapeutics that prevent bacterial infection by inhibiting the growth and development of microorganisms without necessarily killing them.

Buyer Products:

  • ChloraPrep
  
Surgery  
General  
Bacterial Infections  
Antiseptic Agents
Therapeutics that are used to prevent the spread of microorganism in pre-surgical skin infections due to bacteria.

Buyer Products:

  • ChloraPrep
  
Medical Devices
Anesthesiology  
Surgical  
Procedure/Region Specific  
Delivery Systems  
Epidural
Devices used to inject anesthetic into the epidural space to numb the legs and abdomen, which include catheters, needles, syrninges and other prepackaged kits.

Buyer Products:

  • 7cc Luer Slip Loss of Resistance Syringe
  • Single Shot Epidural Anesthesia Kit
  • FlexTip Plus/TheraCath Epidural Kit
  • Epidural Needle Series
  
Nerve Block
Devices used to assist in the delivery of nerve block anesthetic, which include catheters, needles and other prepackaged kits.

Buyer Products:

  • StimuQuick
  • StimuCath
  
Cardiology  
Diagnostic  
Imaging  
X-Ray  
Angiography  
Accessories
Various instruments used to assist in angiography procedures, including transducers, catheters, control syringes, waste systems, contrast management systems, fluid administration sets, and other related items.

Buyer Products:

  • Balloon/Double-Lumen Balloon Wedge-Pressure Catheters
  • Berman Angiographic/Reverse Berman Balloon Catheter Series
  
Monitoring  
Accessories  
Blood Pressure  
Invasive Blood Pressure Cuffs
Monitoring accessories that require contact with the blood and blood vessels to obtain an accurate blood pressure reading, such as domes and transducers.

Buyer Products:

  • Wedge Pressure Products
  • VitaCuff Products
  
Output Sensors
Instruments that measure various cardiac outputs, such as blood velocity and pressure. Examples of sensors include bioimpedence, hemodynamic and thermodilution catheters.

Buyer Products:

  • HemoSonic 100 Probe
  • Balloon/HANDS OFF Thermodilution Catheter Series
  
Monitors  
Cardiac Output
Instrument that measures the blood flow pumped out of the heart.

Buyer Products:

  • HemoSonic 100
  • Cardiac Output Computer
  
Surgical  
General Procedure  
Accessories  
Access  
Arterial
Instruments used to gain access to the heart's arteries, including aortic pouches, introducer needles, introducers and vessel dilators.

Buyer Products:

  • Arrow-Fischell EVAN Vascular Access
  • Percutaneous Sheath Introducer
  • Spring-Wire Guide Introducer
  • Super Arrow-Flex Sheath Introducer Series
  
Guidewires
A small wire-like device that is threaded through a catheter to the site of interest for delivery of another apparatus like a stent.

Buyer Products:

  • Radial Artery Catheterization Kit
  
Procedure/Region Specific  
Arrhythmia  
Electrophysiology  
Chamber Mapping Systems  
Catheters
Long slender wire-like devices with multiple electrodes on the end that gets inserted into the heart chamber for electrophysiological studies and chamber mapping.

Buyer Products:

  • Decapolar/Hexapolar Electrode Catheters Series
  • QuadPolar Electrode Catheter Series
  
Guiding Catheters
Catheter that is used to guide other instruments into place, usually has some sort of curve or steering mechanism.

Buyer Products:

  • Triple Lumen Guide Catheter
  
Pacing Catheters
Catheter that is capable of regulating the electrical stimulation rhythm of the heart.

Buyer Products:

  • QuadPolar Electrode Catheter Series
  • HANDS-OFF Balloon Pacing Catheter
  • Multi-Polar Electrode Catheter Series
  • Balloon Pacing Catheter Series
  • Bipolar Pacing Catheter
  
Cardiac Output Assist  
Intra-Aortic Balloon Pump (IABP)  
Accessories
Various instruments used to assist intra aortic balloon pump surgery, such as catheter kits and introducers.

Buyer Products:

  • Hemostasis Sheath Introducer
  • Ultra 8
  • Universal Series
  • LightWAVE Series
  • UltraFlex Flexible Series
  • RediGaurd Series
  • NarrowFlex Series
  
Systems
Complete set of instruments used to perform intra aortic balloon pump surgery.

Buyer Products:

  • TransAct
  • ACAT 1 Plus
  • KAAT II Plus
  • AutoCAT 2 Series
  
Ventricular Assist Device (VAD)  
Left Ventricular (LVAS)  
Implantable
A device that can be encased in the body cavity and provides the pumping force for the left ventricle of the heart.

Buyer Products:

  • Triple Lumen Guide Catheter
  • CorAide
  
Revascularization  
Atherectomy  
Rotational Systems
Complete set of instruments used to perform catheter based rotational blade atherectomy.

Buyer Products:

  • Arrow-Fischell Pullback Atherectomy Catheter
  
Clinical Diagnostics
Immunoassays  
Reagents  
Test Kits  
Special/Immuno Chemistry  
Fertility/Reproduction  
B-hCG
Immunoassay test kits which quantitatively measures beta hCG, human chorionic gonadotrophin, in plasma or serum.

Target Products:

  • Gamma Slide Pregnancy Test
  
Specimen Collection  
Blood  
Arterial  
ABG Collection Kits
Collection devices used to collect arterial blood samples.

Buyer Products:

  • Arterial/Venous Catheterization Kits
  • Femoral Artery Catheterization Set
  • QuickFlash Kits
  
Body Fluids  
Paracentesis Kits
Kits used in the collection of paracentesis fluid.

Buyer Products:

  • Large Volume Abdominal
  • Peritoneal Lavage Kit
  
Thoracentesis Kits
Catheters/thin tubes used to collect samples of fluid in the thoracic fluid for diagnostic and therapeutic purposes

Buyer Products:

  • Arrow-Clarke Pleura-Seal Thoracentesis Kit
  
Drug Delivery  
Infusion Therapy  
Accessories  
Needleless Fluid Administration/Extension Sets
Valve systems designed to work without needles to prevent patient injuries.

Buyer Products:

  • UserGard Needle-Free Injection Cap System
  
Delivery Systems  
Pumps  
Subcutaneous
Pump placed under the skin of the patient receiving infusion therapy.

Buyer Products:

  • Arrow Model 3000 Constant Flow Pump
  
Integrated/Comprehensive Systems
Complete infusion systems that include pumps, monitoring devices and other accessories.

Buyer Products:

  • Emergency Infusion Device- EID
  • RIC Rapid Infusion Catheter Exchange Set
  
Vascular Access  
Extended In Dwelling Catheters  
Central Venous Catheters (CVC)
Catheters designed to handle high volume flow.

Buyer Products:

  • Arrowgard Blue Series
  • Maximal Barrier Precautions Tray
  • HANDS OFF Central Venous Series
  
Introducers
Medical devices designed for introducing vascular access.

Buyer Products:

  • Raulerson Syringe
  • Arrow Simplicity Micro-Puncture Introducer Set
  
Kits
Kits containing necessary components for gaining vascular access, such as midline catheters, peripherally inserted central catheters, central venous catheters, and associated repair instruments.

Buyer Products:

  • Peripherally Inserted Midline Catheter Kit Series
  • Multi-Lumen Pediatric Kit Series
  • Single-Lumen ARROWgard Blue
  • Arrow-Howes
  • Super Arrow-Flex
  • EID/Peripheral EID Catheter Kit
  
Midline Catheters
Central venous catheter set designed for midline venous access.

Buyer Products:

  • Arrow Midline Catheter Series
  
Peripherally Inserted Central Catheters (PICC)
Central venous catheter set designed for peripheral venous access.

Buyer Products:

  • Arrow PICC Series
  
Peripheral Intravenous Catheters  
Infusion Sets
Complete infusion sets containing peripheral intravenous catheters.

Buyer Products:

  • TwinCath Two-Lumen Peripheral Catheter
  • Rapid Infusion Catheter (RIC)
  
Ported
Peripheral intravenous catheters that have ports for access and to attach other devices such as infusion pumps.

Buyer Products:

  • Blue FlexTip Catheter/Port Systems
  
Safety Catheters
Catheters designed to protect healthcare workers from accidental needle punctures.

Buyer Products:

  • StatLock Products
  
Subcutaneous Implants  
Accessories  
Port Access
Devices that permit port introduction allowing controlled vascular access.

Buyer Products:

  • A2Port With Introducer Kit
  
Ports
Implanted devices that allow controlled vascular access.

Buyer Products:

  • Low Profile Port/B-Port
  • Blue FlexTip Catheter/Port Systems
  • A/A2-Port Series
  
General Surgery  
Invasive  
Accessories  
Drainage
Medical instruments used to provide drainage in the surgical area, including access kits, catheters, evacuator kits and reservoirs.

Buyer Products:

  • Blue FlexTip Percutaneous Cavity Drainage Kits
  
Guidewires
Guidewires used to lead other medical devices into place during surgical procedures

Buyer Products:

  • Spring-Wire Guides
  
Instruments  
Manual Instruments
Medical devices used manually by surgeons to perform invasive general surgical procedures, such as scalpels, curettes, dissectors, elevators, forceps, osteotomes, retractors, bissectors and other similar items.

Buyer Products:

  • I.V. Tubing Products
  • Catheter Clamps
  
Procedure/Region Specific  
Cholecystectomy  
Cholangiography  
Needles
Needles used to assist in cholangiography.

Buyer Products:

  • Port Non-Coring/Corning/Port-Winged Needles
  • Introducer Needles
  
Minimally Invasive  
Procedure/Region Specific  
Cholecystectomy  
Cholangiography
Devices used to perform minimally invasive procedures involving the biliary system, including catheter kits and other endoscopic instruments.

Buyer Products:

  • Arrow-Karlan
  • Arrow Percutaneous
  • Laparoscopic Cholangiography Balloon Catheter
  
Neonatology  
Surgical  
Accessories  
Drainage Catheters
Long slender wire-like tube device that gains access to internal compartments of a newborn and allows fluid to exit through it.

Buyer Products:

  • NeoCare
  
Treatment  
Feeding Tubes
A pipe-like instrument that allows food to enter the newborn's stomach.

Buyer Products:

  • NeoCare
  
Urinary Drainage  
Systems
Complete set of instruments to remove the urine in a newborn's bladder.

Buyer Products:

  • NeoCare
  
Vascular Access  
Umbilical Vessel Catheters
Long slender wire-like tube device that proceeds down the umbilical cord to provide access to the inside of the newborn.

Buyer Products:

  • NeoCare
  
Oncology  
Surgical  
Biopsy  
Region Specific  
Liver
Instruments used to obtain biopsy sample from the liver system.

Buyer Products:

  • Liver Biopsy Kit
  
Respiratory  
Treatment  
Pneumothorax Catheter Kits
Thin tubes designed to be inserted into the lungs to correct pneumothorax (collapsed lung).

Buyer Products:

  • Pneumothorax Kit
  
Transfusion Medicine  
Blood Washers
Instruments used to wash blood cells in preparation for usage; they are often used to prepare frozen red blood cells for transfusion.

Target Products:

  • CSW 100 Washing System
  
Immunohematology  
Automated Blood Typing
Analyzers used to automate the blood typing process.

Target Products:

  • Hamilton AT Plus Liquid Handler
  • Capture System
  • ABS2000
  • ROSYS Plato
  • IBG MultiReader Plus
  • Galileo
  • ABS HV
  • Dias Plus System
  
Non-Automated Typing  
Reagents  
Adsorption Cells
Cells used to adsorb specific antibodies which may be interfering with a immunological reaction being tested for.

Target Products:

  • Gamma EGA Kit
  • W.A.R.M. (Warm Autoantibody Removal Medium)
  • Gamma-Quin (Chloroquine Diphosphate)
  
Anti-Human Globulin
Solution containing antibodies against multiple human blood cell antigens used in clinical blood banks.

Target Products:

  • Anti-Human Globulin Anti-C3, Rabbit
  • Anti-Human Globulin Anti-IgG, Rabbit
  • Anti-Human Globulin Polyspecific, Rabbit
  • Gamma Anti-Human Globulin Polyspecific, Monoclonal
  • Gamma Anti-IgG, Monoclonal
  • Gamma Anti-C3, Monoclonal
  
Antibody Enhancement Media
Media solutions used to enhance antigen/antibody reactions in blood banking procedures.

Target Products:

  • Antibody Potentiating Reagents
  • Gamma Antibody Potentiating Reagents
  
Antibody Screening  
Infectious Disease
Test kits used in blood banks to test for infectious diseases.

Target Products:

  • Capture-CMV
  • Capture-S
  
Platelet
Reagents used to test for antibodies against platelets in donor blood.

Target Products:

  • Capture-P Platelet Antibody Assays
  
Red Cell
Reagents used to test for antibodies against red blood cells in donor blood.

Target Products:

  • Gamma Reagent Red Blood Cells
  • Gamma Ficin-Treated Red Blood Cells
  • Rare Serums Detection
  • Ficin-Treated Red Blood Cells
  • Reagent Red Blood Cells
  • Capture-R/ Capture-R Select Red Cell Antibody Assays
  • Gamma Fetal Bleed Screening Kit
  • Gamma Modified Alsever's Solution
  
Blood Group Substances
Specific substances secreted by individuals with specific blood types which can be tested for.

Target Products:

  • Gamma P1 Blood Group Substance
  • Gamma Lewis Blood Group Substance
  
Controls
Devices used to verify performance of reagents and systems in the clinical blood bank.

Target Products:

  • Gamma Quality Control Reagents
  • Capture Components
  • Quality Control Reagents
  
Elution Cells
Cells used to remove un-desirable antibodies by elution prior to specific antibody testing.

Target Products:

  • Gamma ELU-KIT II Wash Solution
  • Gamma ELU-KIT II
  
Fetal Screen
Kits used to test for fetal blood cells in the maternal blood circulation as a measure of fetal sensitization to the mothers blood during childbirth.

Target Products:

  • Fetal Bleed Screen Kit
  
Monoclonal Antibody  
ABO Blood Group
Antibodies used for typing blood into the major antigenic blood groups.

Target Products:

  • ABO Blood Grouping
  • Monoclonal Reagents
  • Gamma-Clone Monoclonal Reagents
  
Rh Blood Group
Antibodies used for determining the D antigen on red blood cells.

Target Products:

  • Gamma Lectin
  • Gamma-Clone Monoclonal Reagents
  • Lectin
  • Monoclonal Reagents
  • Rh Blood Typing
  
Special Blood Grouping
Antibodies used for special blood typing

Target Products:

  • Gamma Arachis Hypogea Lectin
  • Rare Antisera Monoclonal Reagents
  • Gamma Rare Antisera Monoclonal Reagents
  • Rare Antisera Lectin
  
Polyclonal Antibodies
Antibodies derived from a multiple cell lines use for immunohematology studies.

Target Products:

  • Polyclonal Reagents
  • Gamma Polyclonal Reagents
  • Gamma Rare Antisera Polyclonal Reagents
  • Rare Antisera Polyclonal Reagents
  
Product Labeling  
Software
Software designed for donor blood labeling systems.

Target Products:

  • ImmuLabel Software
  
Urology  
Surgical  
Procedure/Region Specific  
Percutaneous  
Nephrostomy  
Drainage Instruments
Instruments used to remove waste fluid from the kidney, such as catheters, malecots, pezzers, nephrostomy tubes and other similar items.

Buyer Products:

  • Blue FlexTip Percutaneous Cavity Drainage Kits
  
Treatment  
Renal  
Hemodialysis  
Components  
Access Graft Thrombolysis
Device used to plug up the hole in the access vein used for hemodialysis.

Buyer Products:

  • Arrow-Trerotola Percutaneous Thrombolytic Device (PTD)
  
Catheters  
Central Venous Access (CVA)
Catheter that gains access to a major vein.

Buyer Products:

  • Pediatric Catheter Series
  • You-Bend Two-Lumen Hemodialysis
  
Sets
Complete set of catheter instruments used to gain access to internal blood vessels for hemodialysis.

Buyer Products:

  • Arrow Cannon Connector Assembly Replacement Set
  
Vascular  
Diagnostic  
Imaging  
X-Ray  
Angiography  
Accessories
Various instruments used to assist in angiography procedures, including transducers, catheters, control syringes, waste systems, contrast management systems, fluid administration sets, and other related items.

Buyer Products:

  • Berman Angiographic/Reverse Berman Balloon Catheter Series
  
Surgical  
General Procedure  
Accessories  
Introducer Needles
Devices which provide access to the vascular system for introduction of introducers.

Buyer Products:

  • Arrow-Fischell EVAN Vascular Access
  
Introducers
Devices used to provide percutaneous introduction of catheters, interventional devices, and temporary pacing leads into the vasculature.

Buyer Products:

  • Arrow Simplicity Micro-Puncture Introducer Set
  • Percutaneous Sheath Introducer
  • Super Arrow-Flex Sheath Introducer Series
  
Scientific Products  
Bioanalytical Instruments  
Biomolecular  
Microplate Readers  
Accessories  
Incubator/Shaker
Microplate reader accessories used to heat and/or shake a sample at a constant rate during analysis.

Target Products:

  • IBG Plate Shaker
  • Heat Block Incubator
  
General Laboratory Equipment  
Labware  
Thermometers
General laboratory products that are used to measure the temperature of a sample or a system.

Target Products:

  • Heat Block Thermometer
  
Sample Preparation/Processing  
Centrifuges  
Systems  
Blood Bank
Centrifuges that are used to separate the different components of whole blood.

Target Products:

  • Sorvall T6000D Centrifuge
  

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Relationship Details

Key Competitors

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Edwards Lifesciences Corp n/a 2,726.147 23.46 23.00 2.69 2.59 10.60
Datascope Corporation n/a 501.115 29.49 18.50 1.36 1.21 1.95
ABIOMED, Inc. n/a 390.774 n/a -20.16 8.10 7.92 10.08
Merit Medical Systems, Inc. n/a 378.791 29.26 30.48 2.14 2.05 2.93
AngioDynamics, Inc. n/a 280.451 40.84 26.65 3.57 2.77 2.34
DURECT Corporation n/a 256.598 n/a -9.33 9.98 10.57 5.75
Delcath Systems, Inc. n/a 92.484 n/a n/a n/a n/a 7.04
Target
  Johnson & Johnson n/a 189,307.421 17.32 17.52 3.69 3.57 6.89
Biotest AG n/a n/a n/a n/a n/a n/a n/a
DiaMed AG n/a n/a n/a n/a n/a n/a n/a
Olympus Optical Co., LTD. n/a n/a n/a 27.66 n/a n/a n/a

- Defined by the Company - Defined by Others

Dependent Suppliers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  QAD Inc. n/a 249.093 12.68 24.63 1.12 1.04 4.59
Target
  Millipore Corporation n/a 3,441.281 39.30 22.60 3.32 2.85 4.50
STRATEC Biomedical Systems AG n/a n/a n/a n/a n/a n/a n/a
Canadian Blood Services n/a n/a n/a n/a n/a n/a n/a
Lionheart Technologies, Inc. n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Key Customers

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Target
  Duke University Medical Center n/a n/a n/a n/a n/a n/a n/a
Kiwi Ingenuity Limited n/a n/a n/a n/a n/a n/a n/a
Blood Systems Laboratories n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Key Partners

  Name Dir Percent Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  King Pharmaceuticals n/a 3,969.779 21.02 10.07 2.06 2.10 3.68
The Cleveland Clinic Foundation n/a n/a n/a n/a n/a n/a n/a
Target
  Allergan, Inc. n/a 17,254.709 n/a 31.39 6.56 5.76 -756.79
Millipore Corporation n/a 3,441.281 39.30 22.60 3.32 2.85 4.50
STRATEC Biomedical Systems AG n/a n/a n/a n/a n/a n/a n/a
Kiwi Ingenuity Limited n/a n/a n/a n/a n/a n/a n/a
Canadian Blood Services n/a n/a n/a n/a n/a n/a n/a
Lionheart Technologies, Inc. n/a n/a n/a n/a n/a n/a n/a
University of Vermont n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Financials

  Buyer Target Combined Entity
Income Statement
Operating Items
Revenue 466.7 183.5 650.2
Other Revenue 0.0 0.0 0.0
Total Revenue 466.7 183.5 650.2
Cost of Revenue 248.5 62.0 310.4
SG&A Expense 131.2 50.8 182.0
Depreciation & Amortization 0.0 0.3 0.3
Research & Development 28.7 4.6 33.4
Interest Expense 0.0 0.0 0.0
Other Operating Expense 0.0 0.0 0.0
Unusual Expense (Income) -0.0 2.7 2.7
Total Expenses 408.4 120.5 528.8
Operating Income 58.3 63.0 121.4
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng 2.7 0.5 3.2
Other, Net 0.0 -0.3 -0.3
Income Before Taxes 61.1 63.2 124.2
Income Taxes 17.7 23.3 41.0
Income After Taxes 43.4 39.8 83.2
Net Income - Excl. Xord. Items 43.4 39.8 83.2
Net Income - Incl. Xord. Items 43.4 39.8 83.2
Income Avail. to Common 43.4 39.8 83.2
Share Items
Basic Avg. Shares Outstanding 44.8 67.0 111.8
Basic EPS - Excl. Xord. Items 0.97 0.59 0.74
Basic EPS - Incl. Xord. Items 0.97 0.59 0.74
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 45.3 70.9 116.2
F.D. EPS - Excl. Xord. Items 0.96 0.56 0.72
F.D. EPS - Incl. Xord. Items 0.96 0.56 0.72
Dividends Per Common Share 0.64 0.00 0.64
Balance Sheet
Assets
Cash and Equivalents 130.8 54.1 184.9
ST Investments 2.5 1.6 4.1
Accounts Receivable 91.8 37.2 129.0
Inventory 101.8 20.7 122.5
Prepayments and Advances 11.8 5.2 17.0
Other Current Assets 12.7 2.0 14.7
Current Assets 351.4 120.8 472.2
PPE 353.4 0.0 353.4
Accum D&A -185.4 0.0 -185.4
PPE, Net 168.0 25.7 193.7
Goodwill & Intangibles 91.2 38.9 130.1
Other Assets 0.0 0.0 0.0
Other LT Assets 33.2 6.3 39.5
Total Assets 643.9 191.7 835.6
Liabilities
Accounts Payable 19.9 7.3 27.2
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 32.1 9.5 41.6
ST Debt 52.2 0.0 52.2
Curr Port of LTD & Cap Lease Oblg 1.0 1.1 2.1
Other (Current) Liabilities 8.0 10.1 18.1
Current Liab. 113.2 27.9 141.2
LT Debt 0.0 0.0 0.0
Total LT Debt 0.0 0.0 0.0
Deferred Taxes 6.3 2.2 8.6
Other LT Liab. 18.3 17.7 36.0
Total Liabilities 137.9 47.8 185.7
Shareholders Equity
Common Stock 45.7 6.8 52.5
Additional Paid in Capital 34.1 14.8 48.8
Retained Earnings 475.6 119.7 595.3
Treasure Stock -53.3 0.0 -53.3
Other Equity 4.1 2.6 6.7
Total Equity 506.1 143.9 649.9
Total Liab. & Equity 643.9 191.7 835.6
Shares Outstanding 44.8 67.9 112.8
Cash Flow
Operating Cash Flow
CF Net Income 43.4 39.8 83.2
CF Depreciation 16.5 6.9 23.4
CF Amortization 5.8 0.0 5.8
CF Deferred Taxes -7.2 -2.4 -9.6
Other Non-Cash Items 27.6 3.8 31.4
Change in Working Capital -15.6 14.5 -1.0
Total Cash From Operating Activities 70.6 62.7 133.3
Investing Cash Flow (not calculated)
Capital Expenditures -37.7 -10.8 -48.5
Other Investing Cash Flows -12.4 -3.8 -16.1
Total Cash From Investing Activities -50.1 -14.6 -64.7
Financing Cash Flow (not calculated)
Dividends Paid -27.7 -0.0 -27.7
Purchase Or Sale of Stock 4.6 -22.8 -18.2
Purchase and Retirement of Debt 22.1 -8.3 13.8
Other Financing Cash Flow 0.6 0.0 0.6
Total Cash From Financing Activities -0.4 -31.0 -31.5
Exchange Rate Effects 1.4 -0.1 1.3
Net Change in Cash 21.4 17.0 38.4
Cash Taxes Paid 14.3 18.1 32.3
Cash Interest Paid 0.8 0.5 1.3