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Medtronic signed a definitive agreement to acquire Invatec and two affiliated companies , it will expand product offering and pipeline for cardiovascular interventions.

Moving to expand its impact on peripheral vascular disease, Medtronic , Inc. announced that it has signed a definitive agreement to acquire Invatec, a developer of innovative medical technologies for the interventional treatment of cardiovascular disease, and two affiliated companies: Fogazzi, which provides polymer technology to Invatec; and Krauth Cardiovascular, which distributes Invatec products in Germany. The agreement calls for Medtronic to make an initial payment of $350 million to Invatec and additional payments of up to $150 million for Invatec’s achievement of specific milestones.

Invatec’s array of stents, angioplasty balloons and accessory products complement therapies and products in Medtronic’s CardioVascular business, adding a robust peripheral franchise and pipeline, while enhancing its coronary product offering. Notably, Invatec has brought four drug-eluting balloons to market, covering the coronaries and lower-extremity vessels – the only company worldwide with this distinction. It is a pioneer in the development and commercialization of lesion-specific solutions, including therapies for below-the-knee and carotid artery disease.

Cardiovascular interventions represent the world’s largest sector of the medical device market, generating $10 billion annually on a global basis. A significant growth opportunity within this sector is peripheral vascular disease, a large and underserved market currently estimated at $2 billion annually and growing faster than 10 percent per year. Approximately 20 million people in the United States and Western Europe alone suffer from peripheral vascular disease, which causes pain, reduces mobility, inhibits wound healing and leads to approximately 250,000 amputations per year. Together, Medtronic and Invatec will be better positioned to address these and other unmet clinical needs in the treatment of cardiovascular disease, the world’s leading cause of death.

Source: Medtronic

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