Medtronic to Acquire EPIX Therapeutics

Medtronic plc (NYSE: MDT), a $29.95b manufacturer of cardio-vascular, orthopedic, spinal and other medical devices., is buying EPIX Therapeutics, Inc. (formerly Advanced Cardiac Therapeutics), a maker of a catheter-based, temperature-controlled cardiac ablation systems. The acquisition expands Medtronic's cardiac ablation portfolio. EPIX manufactures a duct-based temperature system for controlling cardiac ablation for arrhythmia (arrhythmia), including atrial fibrillation. Its DiamondTemp ablation system, is a closed-loop temperature control system that provides better feedback and control for physicians during ablation. The system uses radio frequency energy (heat) to create scar tissue in the heart and complements Medtronic cryosphere technology, which uses low temperature energy (cold) to isolate the pulmonary veins.  The real-time temperature control through fast power regulation reduces surgical time and confidence in the quality of the lesion. The system received the CE mark in Europe in 2017. Terms not announced.

Keywords: Healthcare Investment Banking, Healthcare M&A, Healthcare mergers