Medical equipment manufacturer FUKUDA DENSHI CO., LTD. has forged a strategic relationship with ENDOSONICS CORP., a developer and marketer of intravascular ultrasound and coronary functional assessment products for the diagnosis and treatment of cardiovascular and peripheral vascular disease. Over a two-year period, the Tokyo company will invest $13 million in its Rancho Cordova, California partner. Close to two-thirds of this money will be used to buy EndoSonics stock. The rest will fund R&D and technical assistance work for products intended for the Japanese market. Fukuda Denshi will distribute these products. Presumably, they will include intravascular ultrasound-guided stents, the result of EndoSonics' recent acquisition of a company that develops stents as well as angioplasty balloons and other medical products.
An exchange rate of ¥141=$1.00 was used in this report.