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|Medtronic Acquires Aptus Endosystems|
Aptus Endosystems' Helical Anchor Technology Complements Medtronic's Aortic Stent Platform for the Treatment of Complex Aortic Disease
DUBLIN-- June 19, 2015 -- Medtronic plc (NYSE:MDT) today announced it has acquired the assets of Aptus Endosystems, Inc., a Sunnyvale, Calif. based, privately held medical device company focused on developing advanced technology for endovascular aneurysm repair (EVAR) and thoracic endovascular aneurysm repair (TEVAR). Medtronic completed its acquisition of the assets of Aptus Endosystems in a transaction valued at approximately $110 million. Additional terms of the acquisition were not disclosed.
Aptus Endosystems' Heli-FX and Heli-FX® Thoracic EndoAnchor® systems feature an endovascular deployed anchor designed to attach a variety of aortic endografts to the native vessel wall. This off-the-shelf, customized solution minimizes the need for complicated procedures for the select subset of patients who would benefit from supplementary fixation. This may include patients with challenging anatomies, risk factors for a secondary intervention, existing seal complications, as well as in situations where a physician may intraoperatively determine the need for additional security.
"We are excited to add this unique complementary, anchor technology to our aortic portfolio," said Daveen Chopra, vice president and general manager of the Aortic business, within the Cardiac and Vascular Group at Medtronic. "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."
The Heli-FX and Heli-FX Thoracic EndoAnchor systems bear the CE Mark for distribution in the European Union and are cleared by the FDA for distribution in the United States. The Heli-FX and Heli-FX Thoracic EndoAnchor systems can be used with a wide variety of commercially available stent grafts, including Medtronic's Endurant® and Valiant® stent graft systems.
As part of the acquisition, Medtronic will also distribute the TourGuide(TM) Steerable Sheath, a device with adjustable tip that enables quick access and delivery of peripheral vascular products to the most challenging anatomy, 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," said James Reinstein, president and CEO of Aptus Endosystems. "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 will continue the ANCHOR Registry -- a global, multi-center, prospective post-market registry evaluating the Heli-FX Aortic Securement System. The company also plans to pursue approval for <10mm infrarenal proximal neck indication for Endurant with the use of the Heli-FX EndoAnchor system.
"The aortic business is an important growth engine for Medtronic," said Tony Semedo, president, Aortic and Peripheral Vascular, within the Cardiac and Vascular Group at Medtronic. "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 will report the Aptus business as part of its Aortic and Peripheral Vascular division within the Cardiac and Vascular Group. The transaction is expected to meet Medtronic's long-term financial metrics for acquisitions, and the annualized earnings impact of this acquisition is not expected to be material.
About Aortic Aneurysms
This press release contains forward-looking statements that involve risks and uncertainties. Such forward-looking statements include Medtronic's intended business strategy and expectations regarding benefits to Medtronic's operations as a result of the closing of the Aptus Endosystems acquisition. The statements in this release are based upon current expectations and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, including risks related to the integration of Aptus Endosystems' operations into Medtronic's, delays or obstacles in realizing the anticipated future benefits (including cost savings and other synergies) resulting from the acquisition of Aptus Endosystems, difficulties and delays inherent in the development, manufacturing, marketing and sale of medical products and services, government regulation, general economic conditions and other risks and uncertainties set forth in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results. Medtronic does not undertake to update its forward- looking statements.
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