Medtronic to acquire Avenu Medical, developer of Ellipsys Vascular Access System
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Medtronic plc. announced plans to acquire Avenu Medical, a California-based company which focuses on developing devices aimed at improving vascular access procedures for patients on dialysis, according to a press release.
As Healio Nephrology previously reported, the FDA granted marketing authorization for the use of Avenu Medical’s Ellipsys Vascular Access System in 2018. The press release noted the system is different from traditional modes of arteriovenous fistula creation, which are often done with an open surgery approach, as it uses ultrasound technology as a guide to insert the catheter percutaneously into the patient’s arm.
"The Ellipsys system has shown durable outcomes out to 2 years and has the ability to shorten procedure times and potentially reduce costs,” Jeffrey Hull, MD, director of the Richmond Vascular Center and co-founder of Avenu Medical, elaborated in the release. “Unlike open surgery, sutures are not required after the procedure and the patient leaves with just an adhesive bandage."
According to the release, the acquisition, which is expected to close in October, will be the sixth in a series of acquisitions Medtronic has made in 2020. In addition, the release included that “the transaction is expected to be immaterial to Medtronic’s adjusted earnings per share in the first [2] fiscal years before turning accretive in fiscal year 2023.”
Mark Pacyna, vice president and general manager of the peripheral vascular business at Medtronic, commented on the progress seen in vascular access procedures in recent years, referencing the launch of the IN.PACT AV drug-coated balloon in the United States and citing findings published in The New England Journal of Medicine that showed the benefits of drug-coated balloons for treatment of dysfunctional AV fistulas.
“Now with the acquisition of Avenu Medical, we can support procedures across the vascular access care continuum, while continuing to provide innovative endovascular therapies that will ultimately reach even more patients with ESRD around the world,” he said.
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