Acquisition Plan OKd
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CardioVascular Dynamics Inc.’s proposed acquisition of Radiance Medical Systems Inc. has been approved by shareholders of the biomedical firms, the companies said.
The combined Irvine-based company will be named Radiance Medical and its stock is scheduled to begin trading Jan. 25 on the Nasdaq market under the symbol RADX.
Radiance, once a unit of CardioVascular, was spun off in 1997 to develop technology that uses radioactive drugs to treat vascular diseases. CardioVascular announced plans in October to buy back Radiance in a cash-and-stock deal worth about $8 million.
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