A Medical Device Daily

ATS Medical (Minneapolis), a manufacturer and marketer of cardiac surgery products and services, said that Health Canada-Medical Device Bureau, Therapeutic Products Programme has approved commercialization of the ATS Simulus annuloplasty product line for valve repair.

The Simulus product portfolio includes flexible, semi-rigid and adjustable annuloplasty rings and bands for use in mitral and tricuspid valve repair. Valve repair, as opposed to valve replacement, has been established as the gold standard of therapy for diseased or damaged mitral valves. Simulus annuloplasty products are unique in that they are designed to provide physiologic support for the repaired valve, adapting to the natural movement of the heart in the cardiac cycle. In addition, the Simulus product line provides excellent handling characteristics that are recognized and appreciated by cardiac surgeons.

This approval expands the growth opportunity for ATS Medical in Canada and is further complemented by the addition of a new distribution partner, Canadian Hospital Specialties (Mississauga, Ontario). This privately owned firm has established a significant base of business in the healthcare market throughout Canada. They have formed a new cardiac surgery division and have added three experienced cardiac surgery specialists focused on driving the adoption of the ATS product portfolio.

“ATS looks forward to collaboration with Canadian Hospital Specialties to introduce the ATS Simulus product line to the Canadian surgical community,“ said Michael Dale, president/CEO of ATS Medical. “This new partnership will allow us reach key opinion leaders in cardiac surgery and more fully penetrate the Canadian marketplace,“ he concluded.

Haemacure sells assets to Angiotech Pharma

Haemacure (Montreal) has obtained authorization from the Superior Court of the Province of Quebec to sell its assets to Angiotech Pharmaceuticals (Vancouver, British Columbia) a secured creditor of Haemacure. The U.S. Bankruptcy Court previously authorized the sale to Angiotech of the assets of Haemacure's U.S. subsidiary.

The sale of the assets was concluded after a thorough bid-solicitation process carried out on behalf of Haemacure by PricewaterhouseCoopers in Canada and the U.S, in the context of the notice of intention to make a proposal to its creditors filed by Haemacure on Jan. 8, 2010 under the Bankruptcy and Insolvency Act (Canada).

Haemacure also obtained a second extension, until April 19, 2010, within which to make a proposal to its creditors. This extension will also allow Haemacure and Angiotech to complete the documentation required for the closing of the asset-sale transactions in Canada and the U.S. The closings are expected to be held prior to the new expiry date of April 19, 2010.