J&J company Cordis Corporation, has announced it has completed the acquisition of Flexible Stenting Solutions, Inc., a leading developer of innovative flexible peripheral arterial, venous and biliary stents.
Terms of the deal have not been disclosed at this time.
Peripheral artery disease (PAD) is caused by the build-up of fatty substances that collect and adhere to the linings of the arteries. The build-up causes the internal lining of the artery to thicken, narrowing the artery and limiting blood flow to vital tissues and organs. Commonly affected arteries include those located in the legs, arms, neck and kidneys.
An estimated 27 million people in Europe and North America alone suffer from PAD, a market into which Cordis currently sells its S.M.A.R.T.® Vascular Stent worldwide. Flexible Stent Solutions is an increasingly well-known player in the space too, and has been covered extensively on our news pages. It most recently cropped up last summer when it announced the FDA approval of its biliary stent range extensions, here.
The company says the addition of Flexible Stenting Solutions’ FlexStent® Self Expanding Stent System provides it with the opportunity to evolve the S.M.A.R.T.® Stent platform to address unmet needs in the treatment of peripheral artery disease (PAD). It also extends the company’s potential to expand therapeutic applications into below-the-knee and venous interventions.
Cordis reckons this acquisition marks another milestone in its strategy to strengthen its position in the endovascular market. Recently Cordis received superficial femoral artery (SFA) and proximal popliteal artery (PPA) indications for the S.M.A.R.T.® Stent, the only stent approved in the U.S. for iliac, SFA and PPA vascular indications. In addition, Cordis offers market-leading endovascular technology platforms including percutaneous transluminal angioplasty balloons and chronic total occlusion crossing devices.
“The FlexStent® System is a promising platform designed to optimize flexibility, fracture resistance and radial strength with predictable placement. We look forward to expanding our experience with this new technology platform,” said Cordis consultant Prof. Dr. Thomas Zeller, Director Department Angiology at Universitaets-Herzzentrum, Freiburg – Bad Krozingen, Germany.
“Cordis continues to identify opportunities to enhance its expanding portfolio of less invasive treatment options to address the needs of patients suffering from vascular disease worldwide,” said Shlomi Nachman, Company Group Chairman, Cordis Corporation. “This acquisition will enable Cordis to provide clinicians more options to meet their evolving therapeutic needs and to strengthen our leadership position in the treatment of vascular disease.”
The FlexStent® System received European CE Mark approval for the treatment of vascular disease (iliac, SFA and popliteal) in January 2009. In the U.S., the device received 510(k) clearance by the Food and Drug Administration (FDA) for the palliative treatment of biliary strictures associated with malignant tumors in September 2009.
Source: Cordis Corporation, Business Wire