Datascope Investors Support Sale of Unit

A group of Datascope Corp. shareholders, including Ramius LLC, support the planned sale of the medial device company's patient-monitoring business, according to a Securities and Exchange Commission filing on Tuesday.

Earlier this month, Datascope said it agreed to sell the business to China's Mindray Medical International Ltd. for $202 million in cash.

In the filing, the Ramius group said the deal "provides for significant value for the patient monitoring business" and represents "the best interest of all shareholders."

Ramius also expressed support for the company's plan to return the proceeds to shareholders through stock buybacks, special dividends or a combination. Ramius and the other investors reserved the right to discuss those options with the company's management and board.

Ramius said the shareholders expects Datascope's management and board "will continue to explore opportunities" to maximize shareholder value.

Last year, Ramius successfully gained a seat on the company's board after a proxy contest. The investment manager owns about 1 million Datascope shares, representing a 6.7 percent stake in the Montvale, N.J.-based company.

Datascope shares gained 75 cents to $39.71 in afternoon trading.