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U.S. Surgical Asquisition
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Business New Haven
12/29/1997
By: Russell Stone
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NORWALK - In another development, U.S. Surgical (NYSE: USS) will purchase Valleylab, a subsidiary of the Pfizer Medical Technology Group, for $425 million. Based in Boulder, Colo., Valleylab has annual sales of $190 million from its product line of electrosurgical and ultrasonic medical equipment. U.S. Surgical chairman Leon C. Hirsch says his company will continue Valleylab's Boulder manufacturing operation and integrate it into U.S. Surgical's own product lines. In the wake of the announcement and a conference call with analysts, Goldman Sachs downgraded U.S. Surgical to market perform from market out-perform.
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