Spectranetics has completed the acquisition of Covidien’s Stellarex drug-coated balloon angioplasty platform. The transaction closed following the acquisition of Covidien by Medtronic.
The Stellarex platform received European CE mark approval in December 2014. Spectranetics has now launched the product in Europe, with US commercialisation anticipated in the 2017 timeframe, following US Food and Drug Administration approval.
“This transaction meaningfully enhances Spectranetics’ portfolio,” said Scott Drake, president and chief executive officer of Spectranetics. “Stellarex is an ideal strategic fit, complementing our suite of highly-differentiated cardiovascular clinical solutions designed to enable physicians to cross, prepare and treat the most complex vascular disease. We are excited to have the Stellarex team become part of Spectranetics. They are an incredible asset and we are proud to advance their work as we continue with the ILLUMENATE clinical trials and product launch.”