The Spectranetics Corporation (NasdaqGS:SPNC) acquired Upstream Peripheral Technologies, Ltd. from Aran Research & Development (1982) Ltd. (TASE:ARAN) for $35.5 million on January 7, 2013. Under the terms of the asset purchase agreement, Spectranetics will pay $5.5 million as base price and a further maximum earn out consideration of $30 million based on achieving certain performance milestones. For the milestone payments, Spectranetics shall pay a milestone payment equal to one-third of the worldwide sale revenues of Spectranetics from products based on Upstream Peripheral Technologies for sales that occur in each of the calendar years of 2014, 2015, and 2016, net of returns, up to an aggregate amount equal to the total purchase price less any payments made on account of the purchase price pursuant to this agreement. Joeri Kreisberg of Yigal Arnon & Co. acted as legal advisor for Upstream Peripheral and Aran Research. Jeffrey A. Sherman of Faegre Baker Daniels LLP acted as legal advisor for Spectranetics Corporation.

The Spectranetics Corporation (NasdaqGS:SPNC) completed the acquisition of Upstream Peripheral Technologies, Ltd. from Aran Research & Development (1982) Ltd. (TASE:ARAN) on January 7, 2013.