Covidien grabs Maya Medical for $60M-plus

Covidien ($COV) has forked over $60 million for Maya Medical, a California developer of a renal denervation treatment Covidien said it will be unveiling at the EuroPCR congress in Paris on May 16. Covidien disclosed the purchase in a regulatory filing, which MedCity News was the first to report. The product treats uncontrolled hypertension, and is an irrigated, radiofrequency balloon catheter that ablates the renal sympathetic nerves in the outer wall of the renal arteries, according to Covidien's description of the product, which it has promoted under its own name. As far as the purchase, Maya Medical stands to make an additional $170 million if it meets regulatory and sales milestones, according to the regulatory filing as cited in the article. The new treatment will compete with similar products from Medtronic ($MDT) and St. Jude Medical ($STJ) that are approved in Europe and under clinical trials in the U.S., MedCity News notes. Story

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