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| Depiction of Aptus' Heli-FX system--Courtesy of Aptus |
Medtronic ($MDT) continued its shopping spree, acquiring Aptus Endosystems for $110 million to get its hands on aortic aneurysm repair technology. The June 19 move comes one day after it obtained the rights to acquire another aortic aneurysm player, as well as cardiology company CardioInsight for $93 million. So that's three transactions over two days for the medical device behemoth.
Aptus' Heli-FX systems are used during minimally invasive aneurysm repair surgery. The FDA-cleared Heli-FX deploys anchors to lock endografts to the aorta and permanently seal abdominal aortic aneurysms. It is also used to repair grafts that lose position (or migrate) or do not form a seal with the vessel wall, resulting in endoleaks.
Aptus also sells the Heli-FX Thoracic EndoAnchor for delivery of the technology to thoracic aortic anatomy. It has a longer delivery device and additional configurations for treatment in that part of the body. Both devices are compatible with Medtronic's Endurant, Talent and AneuRX endografts, as well as others made by Cook Medical and W.L. Gore.
In addition, Medtronic will distribute Aptus' TourGuide Steerable Sheath for the delivery of peripheral vascular devices to challenging locations within the body.
"The aortic business is an important growth engine for Medtronic," said Tony Semedo, the president of Medtronic's aortic and peripheral vascular unit, in a statement. "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."
The company's investment in Arsenal AAA, a subsidiary of Arsenal Medical, was also an abdominal aortic aneurysm play. The subsidiary is developing a foam that expands to fill the aneurysmal sac around an endograft to stabilize the aneurysm and reduce the potential for endoleaks. It is delivering to the site using a catheter. Medtronic didn't disclose how much it invested in the company, but said it has an option to acquire the subsidiary upon the completion of certain milestones.
And in case the company's committeemen to the aortic aneurysm space isn't clear enough, the company just touted five year follow-up results of the study of its Endurant AAA stent graft, which has a global marketshare near 50%, according to a release.
"Medtronic's acquisition of the Aptus technology is validation of our mission to bring a durable solution to patients with challenging anatomies," said Aptus CEO James Reinstein in a statement. "Having the Heli-FX available in the broad distribution channels of the market leader, will be very good for our EVAR (endovascular aneurysm repair) physicians and their patients."
The Sunnyvale, CA-company says 1.5 million Americans have an abdominal aortic aneurysm, with 200,000 new cases diagnosed every year. The condition occurs when the main artery carrying blood from the heart--the aorta--becomes enlarged and weakened.
- read the release