According to a press release issued by market intelligence company Medtech Ventures, it seems Medtronic is lining up the acquisition of a company called Cardiatis. This would bring to Medtronic a thoraco-abdominal aneurysm endograft solution and position it to further exploit the growing endograft market, say sources.
Cardiatis, a privately owned innovative medical device company, with a thoraco-abdominal endograft graft in its bag. Medtronic has its own AAA endograft in the form of Endurant, so would no doubt like to have a presence in what is likely to be a new sector. Thoraco-abdominal grafts have thus far been a no-man’s land due to the fact that the anatomy contains many vascular branches that feed vital organs like the kidneys, the spinal cord and the intestines. Blocking the blood flow to these vital organs with a covered stent graft causes paralysis, renal failure and sometimes death.
The press release calls the Cardiatis device a “paradigm shifting” off-the-shelf hemodynamic flow modulating aortic endograft that can repair the aneurysm by slowing down the rate of aortic cells death due to the blood pressure exerted on them by the pumping heart.
The device, which has already received European approval, apparently causes zero rate paralysis in the patients treated with it and is currently being submitted for approval in the US.
So is their any substance in the rumour of acquisition. Well, it seems there may be. Talks between Medtronic executives and Cardiatis top brass have apparently been taking place over several years, most recently during TCT Meetings in Paris and Veith Symposia in New York. According to Medical Ventures, Medtronic has been expressing increasing interest in gaining a stake in Cardiatis.
Medical Ventures reports that talks have intensified lately, no doubt spurred on by the fact that a competitive product, Endologix’s Ventana is within weeks of obtaining European approval for its device. That would give Endologix a first-to-market advantage for this type of endograft.
Source: Medical Ventures, PR Log