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Maker of catheters for PAD, CAD procedures acquired
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BTG plc announced an agreement to acquire Roxwood Medical, a provider of CV specialty catheters used to treat patients with severe peripheral artery disease and CAD.
According to a press release from BTG, Roxwood Medical will receive up to $80 million in cash for the acquisition, consisting of $65 million paid on closing and up to $15 million based on milestone achievements.
The anchoring catheter and microcatheters produced by Roxwood provide options for crossing of complex lesions and arterial blockages, according to the release.
By stabilizing the delivery of a guidewire through the incorporation of a self-expanding scaffold, Roxwood’s catheters aid in positioning accuracy and help crossing of blockages, enabling treatments such as angioplasty, stenting and atherectomy, the companies stated in the release.
“This is an exciting new chapter for the team at Roxwood and further testament to the utility of the anchoring and microcatheter platforms,” Mehrdad Farhangnia, Roxwood’s CEO, said in the release. “With the expanded commercial and clinical reach of BTG, these minimally invasive tools can help far more clinicians successfully treat patients with severe arterial blockages.”
“This bolt-on acquisition continues to build BTG’s strength in the interventional vascular space, further expanding our portfolio of differentiated minimally invasive vascular technologies,” John Sylvester, BTG’s chief commercial officer, said in the release. “Roxwood’s products complement our existing business and will be offered through our existing EKOS hospital sales force, providing our customers with options to enable treatment of these patients with complex lesions.”
Disclosures: Farhangnia is an employee of Roxwood. Sylvester is an employee of BTG, plc.