Pima Prevention Partnership Administrative Assistant Trades/Construction SCHMUESER & ASSOCIATES PRECSION MILLWRIGHTS Construction Green Valley Heating & Cooling HVAC Service Tech General . MYSTERY SHOPPERS Technical Dynamics Information Technology Systems Engineer Health Care Sonora Behavorial Health Executive Assistant Production and Manufacturing QUALITY MANAGER BusinessMerck invests $195M in artery-cleaning companyTucson, Arizona | Published: 09.28.2006
Merck & Co. agreed Wednesday to pay $195 million to buy an 11 percent stake in medical-device maker FoxHollow Technologies Inc. and expand the companies' research collaboration. FoxHollow shares had their second-biggest gain.
Merck will buy $95 million in shares of FoxHollow and pay an additional $100 million to fund exclusive research during the four-year agreement, the companies said in a statement. Merck, based in Whitehouse Station, N.J., also said it would pay $10 million a year if the accord is extended.
FoxHollow, which makes a device for removing the fatty substance that builds up in arteries and leads to heart attacks, will provide services such as plaque removal to help develop medicines for heart disease, the leading cause of death in the U.S. The agreement expands a partnership formed last September, under which Merck agreed to pay FoxHollow $9 million for access to plaque samples for one year.
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