Boston Scientific (Natick, Massachusetts) said it has acquired TriVascular (Santa Rosa, California), a privately held company that develops less-invasive medical devices and medical procedures for treating abdominal aortic aneurysms (AAA). The company formally exercised an exclusive option to acquire TriVascular that it obtained in December 2002. Terms of the deal were not disclosed. TriVascular successfully completed its first human implant of its AAA stent-graft in 2002 and clinical experience to date on 78 patients has shown promising results in Phase I studies. The U.S. Phase II pivotal trial is planned to begin this year, and commercialization within the U.S. is expected in 2008. CE mark is also expected this year. In addition, TriVascular is in the early stages of developing a thoracic aortic stent-graft, built on the same platform as the AAA stent-graft. Boston Scientific also reported that it has exercised its option to acquire CryoVascular Systems (Los Gatos, California). Terms of the purchase were not disclosed. Boston Sci distributes CryoVascular's angioplasty device, the PolarCath Dilatation System, to treat atherosclerotic disease of the legs and other peripheral arteries. The PolarCath system uses liquid nitrous oxide to provide precise cooling of the diseased artery during balloon angioplasty, a procedure known as CryoPlasty. The system is designed to revascularize the artery and reduce post-procedure restenosis. The repeat procedure rate for patients treated with current balloon angioplasty and stent technology of the femoral-popliteal arteries is reported to be as high as 30% to 40%.
Hansen Medical (Mountain View, California) said it has purchased certain assets primarily intellectual property (IP) of endoVia Medical (Norwood, Massachusetts). The IP includes a portfolio of 33 issued and pending patents and patent applications, many of which are related to minimally invasive surgery (MIS) instruments and surgical robotics. Financial terms of the agreement were not disclosed. Hansen Medical is developing technology that allows the controlled manipulation and precise positioning of percutaneous catheters within chambers of the heart. The Hansen Catheter Control System (CCS) is designed to provide precise catheter control and 3-D navigation, enabling physicians to access hard-to-reach anatomy, repeat procedure steps and maintain stability during procedures. The workstation is compatible with fluoroscopy, ultrasound, 3-D surface map and patient electrogram data. The company initially is developing the CCS for electrophysiology and interventional cardiology, and is researching expanded applications in neurovascular, peripheral vascular and other endoluminal body cavity applications.
Pediatrix Medical Group (Fort Lauderdale, Florida), a provider of newborn and maternal-fetal physician services, said it completed the acquisition of a Miami-based pediatric cardiology practice providing pediatric cardiology services at several local hospitals, including Miami's Mercy Hospital and Baptist Hospital of Miami. The physicians also conduct outreach to pediatricians and hospitals throughout Miami-Dade County, including Homestead and the Upper Keys areas. Pediatrix provides pediatric cardiology physician services in several areas, including Miami, Fort Lauderdale and West Palm Beach in Florida; Phoenix and Tucson in Arizona; Denver, Colorado; and Austin, Texas.
St. Jude Medical (St. Paul, Minnesota) reported that it has completed the acquisition of privately held Velocimed (Maple Grove, Minnesota). St. Jude paid $74 million in cash for the Velocimed business, with further payments contingent upon future milestones, the earliest of which would be paid in March 2007. Velocimed's flagship product, under development, is the Premere patent foramen ovale (PFO) closure system. The system will be available in 15 mm, 20 mm and 25 mm sizes. The Premere PFO closure system already is approved in Europe. Efforts to initiate a U.S. clinical study of the system under an investigational device exemption (IDE) are under way. Though usually considered benign, PFOs have been associated with an elevated risk of a stroke. More than 200,000 patients worldwide who survive a stroke each year have a PFO and are potential candidates for PFO therapy, St. Jude said.