PENTAX Medical Acquires C2 Therapeutics

PENTAX Medical, a manufacturer of medical imaging equipment, has acquired medical device company C2 Therapeutics for an undisclosed amount.

PENTAX Medical, a division of the HOYA Group, offers a range of medical imaging equipment for physicians and hospitals including upper GI gastroscopes and duodenoscopes; lower GI colonoscopes and sigmoidoscopes; radial array, linear array, and Hitachi HI VISION 5500 digital endoscopic ultrasound systems.

C2 Therapeutics develops the C2 CryoBalloon Ablation System for the endoscopic ablation of unwanted tissue such as Barrett's esophagus. The use of the CryoBalloon allows the endoscopist to non-invasively eradicate pre-cancerous esophageal dysplasia by freezing the abnormal tissue. The technology uses an affordable and easy to use platform of a conformable and self-sizing balloon that can be used through the endoscope as a primary, curative therapy.

The acquisition of C2 Therapeutics will help strengthen PENTAX Medical's therapeutic endoscopy portfolio and expands the company's role in the gastroenterology suites around the world from being a provider of advanced imaging for diagnostics, to now providing advanced therapeutic solutions as well.

"The C2 CryoBalloon Ablation System has the potential to improve the lives of millions of people around the world with pre-cancerous lesions of the esophagus," said PENTAX Medical's Global Chief Marketing Officer, David Woods. “We plan to continue working with thought leaders from around the world to further develop the C2 CryoBalloon Ablation System and commercialize the technology with clinically relevant strategies that meet the therapeutic and economic needs of these targeted patient populations."

"Our investment in C2 Therapeutics is continued evidence of our commitment to bring best in class imaging along with cutting-edge technology that helps the therapeutic endoscopist access, visualize and treat disease while minimizing trauma and lowering the cost of healthcare," said Gerald W. Bottero, Global President, PENTAX Medical. "We will continue to make additional strategic investments in these areas in the future to improve clinical outcomes and reduce healthcare costs."

Peter Garcia Meza, President of C2 Therapeutics said, "PENTAX Medical's investment will enable C2 to continue our work with clinicians in the field, build our body of evidence and develop the platform to its full potential."