The Spectranetics Corp. said it received clearance of its bridge occlusion balloon for temporary vessel occlusion in cardiac lead extraction procedures. The Colorado Springs, Colorado-based company said the device is designed to reduce blood loss in the event of a tear, including in the superior vena cava (SVC), providing a "bridge" to surgical intervention.
The med-tech market is becoming increasingly attractive for companies outside of the space. TE Connectivity Ltd. (Schaffhausen, Switzerland), a company primarily known for developing components for the energy, aerospace and wireless communications industries is continuing its bid to have a stronger presence in the med-tech market through its proposed acquisition of Creganna Medical (Galway, Ireland) for $895 million. The all-cash transaction is expected to close in 3Q16.
Spectral Medical Inc. (Toronto) raised $10 million in stock sales to fund its clinical trial for Toraymyxin, a device that removes endotoxins from the bloodstream. The firm's offering relates to a purchase of $14.3 million at 70 cents a share by a consortium.
