After much anticipation, atherectomy leader FoxHollow Technologies Inc. has finally joined the ranks of the acquirers. Since the dramatic four-fold run-up in the company’s stock price that occurred following its October 2004 IPO, peaking one year later at $54.04 per share with a market cap upwards of $1.2 billion, the medical device industry has been waiting for the company to leverage that added value and broaden its limited product line through acquisitions. [See Deal] Nearly one year later, that has finally happened: FoxHollow will acquire Kerberos Proximal Solutions Inc. [See Deal]
FoxHollow’s notable success has been the result of shifting the focus of its SilverHawk atherectomy device for removing plaque from...