Zoll Medical completes acquisition of Lifecor

Zoll Medical, the resuscitation device manufacturer, has announced that it has acquired the assets of Lifecor, a medical equipment company.

Lifecor designs, manufactures and markets an external defibrillator system, something that is in the same sector as the current Zoll business.

Lifecor was in debt to Zoll to the tune of $3 million and the acquisition of Lifecor by Zoll transfers this debt, along with extra debts of $5.8 million and liabilities of $1.5 million to the buyer.

The acquisition was previously announced on March 22nd 2006 when Zoll exercised an option it had been granted. It has said it will operate the company through its Pennsylvania-based Zoll Lifecor subsidiary.

Zoll, which markets and sells its medical equipment and software solutions products in more than 140 countries worldwide, has said that Lifecor will be awarded earn-out payments depending on revenue growth over the next five years.

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