Gish Biomedical Bid for Pump Line OKd

IRVINE —  Gish Biomedical Inc. said its plan to purchase a line of patient infusion pumps from Creative Medical Development Inc. of Nevada City, Calif., has been approved by Creative shareholders.

Gish, which designs and makes devices used in cardiovascular and orthopedic surgery and oncology, will buy the product line for $2.6 million in cash and stock, said Jeanne Miller, Gish’s chief financial officer.

The purchase will enable Gish to enter the rapidly growing market for home health care, she said. The infusion pumps, which variously administer pain medication, antibiotics, chemotherapy and nutritional feedings, are portable. “A patient can put it in a pouch and carry it to the grocery store,” she said.

Gish expects the pumps will add $3 million in revenue and about $500,000 in pretax profits in the 12 months beginning in March, she said. Gish earned $1.7 million on sales of $21.6 million for its fiscal year ended June 30 last year.