CardioDynamics completes Vermed sale

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Impedance cardiography device developer CardioDynamics reported that it has completed the sale of its Vermed unit to Medical Device Partners, a Vermont corporation recently organized by Vermed's management team, for a cash purchase price of $8 million.

Additionally, the San Diego-based CardioDynamics secured a five-year manufacturing and supply agreement with Vermed for its proprietary ICG sensors. The transaction was approved by CardioDynamics's shareholders at its annual meeting last week, with 95 percent of the votes cast in favor of the sale, the company said.