Medtronic Buys Tyrx Antibacterial Envelope Manufacturer
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By HospiMedica International staff writers Posted on 13 Jan 2014 |
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Startup company Tyrx (Monmouth Junction, NJ, USA), which manufactures bioresorbable envelopes for implanted medical devices, is now a part of Medtronic (Minneapolis, MN, USA), the world's largest medical device company.
The acquisition supports Medtronic's expansion of its medical device product offerings to include broader healthcare services and solutions, providing meaningful clinical outcomes and economic value for hospitals, physicians, patients, and payers. TYRX brings to Medtronic the AIGISRx R fully resorbable antibacterial envelope, designed to reduce surgical site infections associated with cardiac implantable electronic devices (CIEDs), and the AIGISRx N antibacterial envelope, used with spinal cord neurostimulators.
The bioresorbable envelopes use a combination of two antibiotic drugs: Minocycline and Rifampin. Minocycline is a tetracycline-class antibiotic commonly used to treat skin acne, among other things; Rifampin is commonly used to treat tuberculosis. Both drugs have different modes of action, and working together target roughly 80% of the germs, which can be introduced during surgery, including Methicillin Resistant Staphylococcus aureus (MRSA) and a number of other pathogens.
“While the risk of infection from an implanted pacemaker or defibrillator is low for most patients, repeated operative procedures after the initial device implant are associated with a substantial incremental risk of infection. This is estimated to cost the US healthcare system more than one billion dollars per year,” said Pat Mackin, president of the cardiac rhythm disease management business and senior vice president at Medtronic. “TYRX has developed an innovative, proven technology to reduce infection risk, making the procedure safer for patients and removing significant costs from the healthcare system.”
“We look forward to joining Medtronic as part of a combined portfolio that can positively impact outcomes for patients by reducing implant-related infections, and bring value to our customers,” said Robert White, president and CEO of Tyrx.
The all-cash transaction includes an initial payment of USD 160 million plus potential earn out and performance based milestone payments.
Related Links:
Tyrx
Medtronic
Antibacterial Envelope Protects Cardiac Implants
The acquisition supports Medtronic's expansion of its medical device product offerings to include broader healthcare services and solutions, providing meaningful clinical outcomes and economic value for hospitals, physicians, patients, and payers. TYRX brings to Medtronic the AIGISRx R fully resorbable antibacterial envelope, designed to reduce surgical site infections associated with cardiac implantable electronic devices (CIEDs), and the AIGISRx N antibacterial envelope, used with spinal cord neurostimulators.
The bioresorbable envelopes use a combination of two antibiotic drugs: Minocycline and Rifampin. Minocycline is a tetracycline-class antibiotic commonly used to treat skin acne, among other things; Rifampin is commonly used to treat tuberculosis. Both drugs have different modes of action, and working together target roughly 80% of the germs, which can be introduced during surgery, including Methicillin Resistant Staphylococcus aureus (MRSA) and a number of other pathogens.
“While the risk of infection from an implanted pacemaker or defibrillator is low for most patients, repeated operative procedures after the initial device implant are associated with a substantial incremental risk of infection. This is estimated to cost the US healthcare system more than one billion dollars per year,” said Pat Mackin, president of the cardiac rhythm disease management business and senior vice president at Medtronic. “TYRX has developed an innovative, proven technology to reduce infection risk, making the procedure safer for patients and removing significant costs from the healthcare system.”
“We look forward to joining Medtronic as part of a combined portfolio that can positively impact outcomes for patients by reducing implant-related infections, and bring value to our customers,” said Robert White, president and CEO of Tyrx.
The all-cash transaction includes an initial payment of USD 160 million plus potential earn out and performance based milestone payments.
Related Links:
Tyrx
Medtronic
Antibacterial Envelope Protects Cardiac Implants
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