Medtronic to Acquire CathWorks for ~$585M and Entered into a Co-Promotion for FFRangio System
- Medtronic will invest ~$75M in CathWorks & begin marketing CathWork’s FFRangio catheter system in the US, EU & Japan. The collaboration highlights Medtronic's dedication to providing new, innovative technologies and solutions from diagnosis to treatment
- Under the separate agreement, Medtronic gets an option to acquire CathWorks if undisclosed milestones are met. CathWorks get the rights to compel Medtronic to acquire the company, if Medtronic does not exercise the option which expires in July 2027 with an estimated value of $585M & earn-out payments post-acquisition
- FFRangio system provides diagnostic & physiologic inf. through AI to disrupt traditional FFR & revolutionize the management of CAD. The system showed diagnostic accuracy (93%), sensitivity (91%) & specificity (94%)
Ref: PRNewswire | Image: CathWorks
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