Irvine medical device maker Alsius Corp. on Wednesday said it is being bought by Ithaka New York’s Ithaka Acquisition Corp.
The deal calls for Alsius to become a unit of Ithaca, with its shareholders receiving a total of 8 million shares of Ithaka stock, which last traded at $5.33 in late September. Ithaka is set to take on Alsius’ name once the buy is completed.
Ithaka said in a statement it would seek a listing on Nasdaq. The company’s shares trade on the low-profile bulletin-board exchange.
Alsius makes catheters and other instruments used in hospitals to control patients’ body temperature. Ithaka was formed last year to acquire an operating business in the healthcare industry.
Both companies said Alsius’ current management team would remain in place to run the business. William Worthen, Alsius’ chief executive, is set to head the new company.
Alsius had filed with the Securities and Exchange Commission for an initial public offering back in April.
