Medical imaging technology manufacturer Colorado MedTech has sold its Colorado operations to microelectronic device developer HEI for one million shares of HEI common stock and a $2.6 million subordinated debenture.
HEI also assumed certain obligations from the Boulder, CO-based firm, as well as operating assets associated with its Colorado operations, including inventory, property and equipment, unbilled services, prepaid and other expenses, as well as $5.6 million in cash.
Colorado MedTech's Civco Medical Instruments subsidiary was not included in the deal. The firm said it continues to seek a buyer for the Kalona, IA-based Civco unit or the entire company.
By AuntMinnie.com staff writersJanuary 27, 2003
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