Medtronic (MDT) is selling off endovascular technology.
Volcano Corporation (VOLC) will acquire Medtronic’s Pioneer Plus diagnostic ultrasound transducer and percutaneous catheter in a deal that should close by the end of the week. Volcano will use Pioneer Plus to increase its presence in the diagnosis and treatment of peripheral arterial disease. The acquisition moves the diagnostics company in to the therapeutics space.
The dollar amount of the asset purchase is undisclosed.
Volcano, an endovascular medical device company, has been offering its intravascular ultrasound technology in tandem with the Pioneer Plus line for “many years,” company president and CEO Scott Huennekens said in a company statement. According to a press release:
The Pioneer Plus “re-entry” catheter, which has regulatory clearance in the U.S and Europe as well as other geographies, is an interventional medical device designed to enable the crossing of sub-total, total and chronic total occlusions (CTOs) within the peripheral vasculature, potentially eliminating the need for surgery. Volcano’s IVUS (Intravascular Ultrasound) technology is used to direct the guidewire past stenotic lesions prior to additional interventions, such as balloon angioplasty or stent placement by providing a cross-sectional ultrasound image of the area of interest.