EndoSonics to Cut Stake
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Bloomberg News
IRVINE — EndoSonics Corp. said it will distribute to its shareholders an 8% stake in Irvine-based CardioVascular Dynamics Inc., which once was owned by the Rancho Cordova company. The move will cut EndoSonics’ stake in CardioVascular to 25%, or 2.21 million shares, from 33%.
CardioVascular makes devices to strengthen blood vessels. EndoSonics, which makes ultrasound imaging systems, spun off most of CardioVascular in June 1996.
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