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This article was originally published in The Gray Sheet

Executive Summary

Sales reps accounting for at least 50% of Sulzer's U.S. electrophysiology volume have accepted offers as of Oct. 28 to join Guidant's Cardiac Rhythm Management division, satisfying a "key condition" in the Sulzer purchase announced Sept. 21 ("The Gray Sheet" Sept. 28, p. 8). The price of the all-cash deal, pegged between $775 mil. and $850 mil, hinges on the number of reps who join Guidant by closing. Guidant will continue to offer employment to Sulzer reps not yet contacted



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