September 30, 2020
Medtronic to Acquire Avenu Medical
September 30, 2020—Medtronic announced it plans to acquire Avenu Medical, developer of the Ellipsys vascular access system for the endovascular creation of arteriovenous (AV) fistula for patients with end-stage renal disease (ESRD) undergoing dialysis.
Avenu Medical is a privately held company based in San Juan Capistrano, California. The acquisition is expected to close in October subject to the satisfaction of certain customary closing conditions. The terms of the transaction were not disclosed.
Medtronic stated that Avenu Medical’s Ellipsys system has received FDA clearance for sale in the United States and CE Mark approval for distribution in the European Union. It is indicated in both markets for the creation of a proximal radial artery to perforating vein anastomosis for the percutaneous creation of an AV fistula.
Ellipsys is a single-catheter, ultrasound-guided device that inserts a catheter percutaneously into the arm to create a durable AV fistula. The procedure can be performed in the hospital outpatient department, ambulatory surgery center, or physician’s office.
“AV fistula are like lifelines to patients undergoing dialysis,” commented Avenu Medical cofounder Jeffrey Hull, MD, in Medtronic’s announcement. “Until recently, the only option to create a fistula was through invasive surgery, which is associated with high failure rates.”
Dr. Hull, who is also Director of the Richmond Vascular Center in North Chesterfield, Virginia, continued, “The Ellipsys system has shown durable outcomes out to 2 years and has the ability to shorten procedure times and potentially reduce costs. Unlike open surgery, sutures are not required after the procedure and the patient leaves with just an adhesive bandage.”
Avenu Medical's president and chief executive officer, Mark Ritchart, added, “Medtronic’s acquisition of Avenu aligns directly with our vision of bringing less invasive, endovascular solutions to patients requiring durable vascular access. With Medtronic’s extensive market presence, clinical leadership, and market development expertise, coupled with Avenu’s customer-focused team and innovative technology, we are confident that together, we can drive awareness and adoption of this technology globally.”
Mark Pacyna, Vice President and General Manager of the Peripheral Vascular business at Medtronic, stated, “Within the last year, we’ve seen significant momentum with the launch of the In.Pact AV drug-coated balloon in the United States and primary endpoint results of the IN.PACT AV Access study being published in The New England Journal of Medicine. Now, with the acquisition of Avenu Medical, we can support procedures across the vascular access care continuum, while continuing to provide innovative endovascular therapies that will ultimately reach even more patients with ESRD around the world.”