Medtronic has acquired the assets of Aptus Endosystems, a US California-based company focused on developing advanced technology for endovascular aneurysm repair (EVAR) and thoracic endovascular aneurysm repair (TEVAR). Medtronic completed its acquisition of the assets of Aptus Endosystems in a transaction valued at approximately US110m. Additional terms of the acquisition were not disclosed.
Aptus Endosystems’ Heli-FX and Heli-FX Thoracic EndoAnchor systems feature an endovascular deployed anchor designed to attach a variety of aortic endografts to the native vessel wall. This off-the-shelf, customised solution minimises the need for complicated procedures for the select subset of patients who would benefit from supplementary fixation. This may include patients with challenging anatomies, risk factors for a secondary intervention, existing seal complications, as well as in situations where a physician may intraoperatively determine the need for additional security.
Daveen Chopra, vice president and general manager of the Aortic business, within the Cardiac and Vascular Group at Medtronic, said, “The Heli-FX and Heli-FX Thoracic EndoAnchor systems strongly align with our strategy to invest in treatments that address complex aortic disease with a vision to treat disease of the entire aorta.”
The Heli-FX and Heli-FX Thoracic EndoAnchor systems bear the CE mark for distribution in the European Union and are cleared by the Food and Drug Administration for distribution in the USA. The systems can be used with a wide variety of commercially available stent grafts.
As part of the acquisition, Medtronic will also distribute the TourGuide steerable sheath, a device with adjustable tip that enables quick access and delivery of peripheral vascular products to the most challenging anatomy, in the USA and Europe.
“Medtronic’s acquisition of the Aptus technology is validation of our mission to bring a durable solution to patients with challenging anatomies,” said James Reinstein, president and chief executive officer of Aptus Endosystems. “Having the Heli-FX available in the broad distribution channels of the market leader, will be very good for our EVAR physicians and their patients.”
“The aortic business is an important growth engine for Medtronic,” said Tony Semedo, president, Aortic and Peripheral Vascular, within the Cardiac and Vascular Group at Medtronic. “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.”
Medtronic will report the Aptus business as part of its Aortic and Peripheral Vascular division within the Cardiac and Vascular Group. The transaction is expected to meet Medtronic’s long-term financial metrics for acquisitions, and the annualised earnings impact of this acquisition is not expected to be material.