Release date: 2016-12-01
Edwards Lifesciences, a medical device company based in Irvine, Calif., recently added more and more bets on cardiac mitral transcatheter therapy. Edwards specializes in structural heart disease, dominates the US market for transcatheter valve replacement devices, and recently announced the acquisition of Israeli company Valtech Cardio for $690 million. Valtech has a product called the "CardiobandTM System" that repairs heart valves in a transcatheter manner.
Valtech's CardiobandTM system, which is seen by Edwards Lifesciences
Cardiac transcatheter therapy is a technique for inserting a catheter from the surrounding blood vessels into the heart chamber and the large blood vessels. It can be used for minimally invasive treatment of structural heart disease and is even considered a "non-surgical" method. Edwards Lifesciences' previous acquisition of CardiAQ developed the world's first self-coordinating and self-anchoring technique for catheter-implanted mitral valve (TMVI).
By the beginning of 2017, Edwards will deliver $340 million to Valtech in the form of stocks and cash, and will pay the remaining $350 million in a phased payment over the next ten years. The two parties did not disclose the form of periodic payment, but usually companies such as Edwards Lifesciences will regularly evaluate the acquired company after the acquisition, check the approval and compliance of new products, market income, etc., and decide through each test result. Whether to give the next grant.
“We are pleased to see that Edwards, a leading global medical device company, is eyeing the field of transcatheter treatment of structural heart disease. We believe this collaboration will allow Valtech's Cardioband products to fully address mitral regurgitation. The potential of the flow," said Amir Gross, CEO of Valtech Cardio.
The left ventricle of patients with mitral regurgitation increases, leading to ventricular papillary muscle dysfunction, resulting in dysfunction of the mitral and mitral annulus. Eventually it can lead to poor heart valve leaflets, blood backflow, and even heart disease in severe cases. For patients with functional mitral regurgitation, Valtech's CardiobandTM system differs from traditional cardiac surgery in that it uses a transcatheter approach for filler reconstruction.
The CardiobandTM system uses a technique of femoral vein puncture, in which a catheter is inserted through the femoral vein and through the diaphragm into the heart. In particular, the device for repairing the mitral annulus is tailored to each patient.
Heart valve treatment by femoral vein puncture
“In the process of continuing to explore the treatment of related diseases, we found that Valtech's products complement our comprehensive range of heart valve repair and replacement devices,†said Michael Mussallem, Chairman and CEO of Edwards. The current progress and prospects of the projects are very impressive, and we also believe that Valtech's excellent team and heart valve technology can bring us more opportunities."
Last year, Edwards took out its transcatheter heart valve replacement program after spending about $400 million to acquire CardiAQ. This is one of the internal projects mentioned by Mussallem. There are two ways to perform valve replacement through the CardiAQ system: one is the reverse pathway, which enters the ventricle through the femoral vein on the thigh; the other is the forward approach, which enters directly through the apex.
Edwards Lifesciences didn't want to buy a company that studied mitral valve replacement technology alone, but since Valtech could optimize CardiAQ's valves, Edwards was indeed determined to accumulate resources in the heart valve area, and decided to buy Valtech again. . Valtech will temporarily delay early research projects for transcatheter mitral valve replacement before the acquisition is completed.
Founded in 2005, Valtech Cardio is a privately held company specializing in mitral and tricuspid valve repair and replacement, with more than 150 patents acquired and pending. In addition to the CardiobandTM system that Edwards sees, they also have a surgical valve repair combination, a set of CardiovalveTM transcatheter valve replacement systems under development. Valtech Cardio has its own resources throughout the entire process of R&D, manufacturing and clinical research.
Source: Arterial Network
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