Medtronic plc (NYSE:MDT), a global leader in healthcare technology, today announced that it has completed the acquisition of Affera, Inc.
Acquisition adds mapping and navigation platform to company’s cardiac ablation portfolio and brings an integrated system of diagnostic and therapeutic tools to address a broad spectrum of arrhythmias DUBLIN, Aug. 30, 2022 /PRNewswire/ -- Medtronic plc (NYSE:MDT), a global leader in healthcare technology, today announced that it has completed the acquisition of Affera, Inc. This acquisition expands the company’s cardiac ablation portfolio to include its first-ever cardiac mapping and navigation platform that encompasses a differentiated, fully integrated diagnostic, focal pulsed field and radiofrequency ablation solution. The investigational Affera technology is designed to provide solutions for patients with cardiac arrhythmias (irregular heartbeats) such as atrial fibrillation (AF). Through this acquisition Medtronic gains the Affera Prism-1™ cardiac mapping and navigation platform, which will be compatible with Medtronic and multiple, competitive therapeutic catheters and technologies. The company also adds the Sphere-9™ cardiac diagnostic and ablation catheter that enables the rapid creation of detailed electro-anatomical maps and delivers radio frequency (RF) and pulsed field (PF) cardiac ablation therapies. Additional Affera pipeline products such as the Arc-10 coronary sinus (CS) diagnostic catheter and Sphere PVI ablation catheter, which is a single shot device which delivers pulsed field ablation (PFA) energy, are also included. “This acquisition marks an important growth milestone for our cardiac ablation portfolio,” said Rebecca Seidel, president of the Cardiac Ablation Solutions (CAS) business, which is part of the Cardiovascular Portfolio at Medtronic. “We’re incredibly proud to have led the industry with the introduction of the proven safe and effective cryoablation technology; and now these new additions to our portfolio help support a leap forward in our commitment to build a comprehensive portfolio and help physicians achieve the best outcomes for patients.” The Affera full suite of solutions and technologies will complement the existing Medtronic atrial and ventricular arrhythmia disease management portfolio and support the company’s efforts to offer differentiated, safe, and effective cardiac ablation solutions. Currently, the prevalence of cardiac arrhythmias including AF, supraventricular tachycardia (SVT), and ventricular tachycardia (VT), is increasing rapidly. AF represents the largest disease segment, with nearly 60 million people affected worldwide1. “The Affera team is very excited to be joining Medtronic Cardiac Ablation Solutions. The acquisition enhances and accelerates our ability to treat millions of patients around the world suffering from cardiac arrhythmia with our innovative technology,” said Doron Harlev, founder and chief executive officer of Affera. “Our team designed the Affera platform with physicians and patients in mind, to advance the field of electrophysiology while supporting safe and efficient cardiac ablation procedures.” In December 2021, Affera announced the commencement of the recently approved SPHERE Per-AF Trial, a U.S. Food and Drug Administration Investigational Device Exemption pivotal randomized trial, to evaluate the safety and effectiveness of the Affera system for the treatment of persistent AF. As part of the closure, Medtronic will continue to support the SPHERE Per-AF Pivotal Trial. Affera’s product portfolio is not currently approved or available for sale or commercial use. Financial Highlights About Affera About Medtronic Any forward-looking statements, including, but not limited to, statements regarding strategic and other potential benefits of the transaction, including meeting Medtronic’s long-term financial metrics for acquisitions, Affera products and product candidates, and other statements about Medtronic managements’ future expectations, beliefs, goals, plans or prospects, are subject to risks and uncertainties such as those described in Medtronic’s reports and other filings with the Securities and Exchange Commission. Actual results may differ materially from anticipated results. Medtronic cautions investors not to place considerable reliance on the forward-looking statements contained in this press release. These forward-looking statements speak only as of the date of this document, and Medtronic undertakes no obligation to update or revise any of these statements except to the extent required by law. 1 Roth GA, Mensah GA, Johnson CO et al. Global Burden of Cardiovascular Diseases and Risk Factors, 1990-2019: Update From the GBD 2019 Study. J Am Coll Cardiol 2020;76:2982-3021.
View original content to download multimedia:https://www.prnewswire.com/news-releases/medtronic-completes-acquisition-of-affera-301614195.html SOURCE Medtronic plc | ||||||||||||
Company Codes: NYSE:MDT |