Friday, May 18, 2007

ReAble Therapeutics Buys IOMED

Salt Lake City, Utah-based IOMED and Austin, Texas-based ReAble Therapeutics today said that they have signed a definitive agreement where ReAble will acquire all of the outstanding shares of IOMED, in an all-cash merger worth approximately $22M. IOMED is a manufacturer of drug delivery devices used for pain management. According to the firms, IOMEd will continue its manufacturing, customer support, and product development at its Salt Lake City facility.