On 1 September 2011, Bayer HealthCare announced that its affiliate, Medrad has acquired Pathway Medical Technologies. Financial terms of the agreement were not disclosed. With this acquisition, Bayer HealthCare is strengthening its Medrad Interventional business by expanding its presence in the field of vascular intervention technologies.
Pathway Medical Technologies is a leader in mechanical atherectomy in the field of vascular intervention. The company’s products clear out blockages in the leg. Pathway’s Jetstream devices allow for a minimally invasive procedure designed to restore circulation in the peripheral arteries by reducing vascular narrowing caused by plaque. With differential cutting, Jetstream products are designed to remove plaque without harming healthy tissue.
“The combination of Medrad and Pathway Medical Technologies underscores our strategic commitment to the treatment of patients in the growing interventional field,” said Jorg Reinhardt, chairman of the Board of Management of Bayer HealthCare. “Pathway’s products complement Medrad Interventional’s current and future portfolio including our injectors, thrombectomy devices and the Cotavance paclitaxel coated balloon catheter with Paccocath technology and will enable us to extend value to customers and patients through broader product options to diagnose and treat peripheral arterial disease.”