Spectranetics Completes Acquisition of AngioScore
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By HospiMedica International staff writers Posted on 13 Jul 2014 |
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Spectranetics (Colorado Springs, CO, USA) has completed the acquisition of AngioScore (Fremont, CA, USA), a leading developer, manufacturer, and marketer of cardiovascular specialty balloons.
The transaction, for USD 230 million in cash and contingent commercial and regulatory milestone payments, will combine differentiated, complementary product lines. The acquisition will diversify Spectranetics’ current product portfolio, which includes a range of ablation laser catheters, support catheters to facilitate crossing of peripheral and coronary arterial blockages, and retrograde access and guidewire retrieval devices. The company also markets a lead management product line that includes excimer laser sheaths, dilator sheaths, mechanical sheaths, and accessories for the removal of pacemaker and defibrillator cardiac leads.
The acquisition will expand physicians’ options for treating critical limb ischemia (CLI), in‐stent restenosis (ISR), calcified lesions, and chronic total occlusions (CTO). Strategically, the combined company will expand Spectranetics’ addressable markets, broaden the product pipeline (including the addition of a proprietary drug‐coated scoring balloon platform), enhance and leverage Spectranetics’ strong sales and marketing capabilities, and drive significant operating efficiencies and savings.
“We are very excited to complete this important transaction. AngioScore meets our criteria with an exceptional strategic fit, leverageable call points, differentiated technology and clear operating efficiencies,” said Scott Drake, President and CEO of Spectranetics. “With AngioScore now a part of our company, we have a meaningfully expanded market opportunity and a compelling product portfolio.”
“Simply put, we are ‘better together.’ We believe that this combination provides an opportunity to build a remarkable future while delivering life‐impacting technologies to physicians and patients,” said Thomas R. Trotter, President and CEO of AngioScore. “In Spectranetics, we find a like‐minded partner that shares our values, our commitment to improving patients’ lives, and equally high standards for operational excellence and quality.”
Related Links:
Spectranetics
AngioScore
The transaction, for USD 230 million in cash and contingent commercial and regulatory milestone payments, will combine differentiated, complementary product lines. The acquisition will diversify Spectranetics’ current product portfolio, which includes a range of ablation laser catheters, support catheters to facilitate crossing of peripheral and coronary arterial blockages, and retrograde access and guidewire retrieval devices. The company also markets a lead management product line that includes excimer laser sheaths, dilator sheaths, mechanical sheaths, and accessories for the removal of pacemaker and defibrillator cardiac leads.
The acquisition will expand physicians’ options for treating critical limb ischemia (CLI), in‐stent restenosis (ISR), calcified lesions, and chronic total occlusions (CTO). Strategically, the combined company will expand Spectranetics’ addressable markets, broaden the product pipeline (including the addition of a proprietary drug‐coated scoring balloon platform), enhance and leverage Spectranetics’ strong sales and marketing capabilities, and drive significant operating efficiencies and savings.
“We are very excited to complete this important transaction. AngioScore meets our criteria with an exceptional strategic fit, leverageable call points, differentiated technology and clear operating efficiencies,” said Scott Drake, President and CEO of Spectranetics. “With AngioScore now a part of our company, we have a meaningfully expanded market opportunity and a compelling product portfolio.”
“Simply put, we are ‘better together.’ We believe that this combination provides an opportunity to build a remarkable future while delivering life‐impacting technologies to physicians and patients,” said Thomas R. Trotter, President and CEO of AngioScore. “In Spectranetics, we find a like‐minded partner that shares our values, our commitment to improving patients’ lives, and equally high standards for operational excellence and quality.”
Related Links:
Spectranetics
AngioScore
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