Tuesday, June 23, 2015

News: Medtronic acquires Aptus Endo for $110m

Medtronic acquires Aptus Endo for $110m
Medtronic (NYSE:MDT) announced its 2nd acquisition of the day this afternoon, saying it paid $110 million to acquire Aptus Endosystems and its Heli-FX device aortic securement device.

Earlier today the Fridley, Minn.-based medical device giant said it picked up CardioInsight for $93 million.
“We are excited to add this unique complementary, anchor technology to our aortic portfolio,” aortic business general manager Daveen Chopra said in prepared remarks. “The Heli-FX and Heli-FX thoracic endoanchor systems strongly align with our strategy to invest in treatments that address complex aortic disease with a vision to treat disease of the entire aorta.”
Both devices won CE Mark approval in the European Union and are FDA-cleared in the U.S. The deal also means Medtronic will take over distribution of the TourGuide steerable sheath in the U.S. and Europe.
“Medtronic’s acquisition of the Aptus technology is validation of our mission to bring a durable solution to patients with challenging anatomies,” added Aptus president & CEO James Reinstein. “Having the Heli-FX available in the broad distribution channels of the market leader, will be very good for our EVAR physicians and their patients.”
Medtronic said it plans to continue the ANCHOR registry for the Heli-FX device and to pursue approval for a <10mm infrarenal proximal neck indication for its Endurant stent graft with the use of the Heli-FX EndoAnchor system.
“The aortic business is an important growth engine for Medtronic,” aortic & peripheral vascular president Tony Semedo said in prepared remarks. “We are committed to bringing proven solutions that transform vascular disease management. We believe this acquisition of Aptus will further differentiate Medtronic’s offerings in the market.”
Medtronic said it doesn’t expect the deal to have an effect on its annual earnings.
Published at massdevice.com 

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