Volcano to buy Medtronic's Pioneer Plus re-entry catheter product line
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By: Katie Bell
Ref: NASDAQ, PR Newswire
Published: 08/27/2013
Volcano said Tuesday that it signed an agreement to acquire Medtronic's Pioneer Plus diagnostic ultrasound transducer and percutaneous catheter for an undisclosed sum. The transaction, which is structured as an asset purchase, is expected to close by the end of August.
The interventional device, which is approved in the US and Europe, is designed to "enable the crossing of sub-total, total and chronic total occlusions within the peripheral vasculature, potentially eliminating the need for surgery," Volcano noted. CEO Scott Huennekens said "we have been providing our [intravascular ultrasound] technology in combination with the Pioneer Plus for many years," adding "being able to now offer this device...will serve our strategy of increasing our presence in the diagnosis and treatment of peripheral arterial disease."
Huennekens noted that the deal "also furthers our continued evolution from purely a diagnostic company to one that offers a wide range of diagnostic and therapeutic devices." Last year, Volcano acquired Crux Biomedical, and the company's Crux Vena Cava Filter System, which Huennekens said is expected to be ready for "a full market launch...in the first half of 2014."
The interventional device, which is approved in the US and Europe, is designed to "enable the crossing of sub-total, total and chronic total occlusions within the peripheral vasculature, potentially eliminating the need for surgery," Volcano noted. CEO Scott Huennekens said "we have been providing our [intravascular ultrasound] technology in combination with the Pioneer Plus for many years," adding "being able to now offer this device...will serve our strategy of increasing our presence in the diagnosis and treatment of peripheral arterial disease."
Huennekens noted that the deal "also furthers our continued evolution from purely a diagnostic company to one that offers a wide range of diagnostic and therapeutic devices." Last year, Volcano acquired Crux Biomedical, and the company's Crux Vena Cava Filter System, which Huennekens said is expected to be ready for "a full market launch...in the first half of 2014."