Datascope to consider alternatives following sale of patient monitoring business

By Lisa Kerner

Charlotte, N.C., June 4 - Datascope Corp. said it will explore strategic alternatives in response to expressions of interest received after the company announced the sale of its patient monitoring business.

Lehman Brothers, Datascope's financial adviser, will follow up with the interested parties and report back to the company's board of directors, according to a company news release.

The board deferred its decision on the use of proceeds from the sale in light of the review process but remains committed to using the funds to directly benefit Datascope shareholders, the company said.

Because Datascope's business has changed since the sale of the patient monitoring business, the company provided financial guidance to enable shareholders to evaluate the company's ongoing operations.

Fourth-quarter revenue for fiscal 2008 is expected to grow between 6% and 7% over the prior-year period.

Earnings per share should be in the range of $0.46 to $0.48 in the fourth quarter of fiscal 2008 and in the range of $1.92 to $2.03 for fiscal 2009, the company projected.

Revenue growth for fiscal 2009 is projected to be in the 7% to 9% range, or $250 million to $254 million, Datascope noted.

As previously reported, the company agreed in March to sell its patient monitoring business to Mindray Medical International, Ltd. for $240 million.

Datascope is a Montvale, N.J., medical device company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.