View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
September 11, 2018

BTG buys vascular devices firm Novate Medical

UK-based healthcare company BTG has acquired Irish medical devices maker Novate Medical to bolster its position in the vascular market.

UK-based healthcare company BTG has acquired Irish medical devices maker Novate Medical to bolster its position in the vascular market.

BTG has made a cash payment of $20m to Novate. As part of the deal, Novate is also eligible to receive an additional $130m if it manages to achieve select commercial and sales-related milestones.

Novate portfolio consists of a bioconvertible inferior vena cava (IVC) filter, called Sentry, which is designed to prevent pulmonary embolism (PE) in patients who are at high risk of venous thromboembolic events.

“BTG has made a cash payment of $20m to Novate. Novate will be eligible to receive an additional $130m if it manages to achieve select commercial and sales-related milestones.”

The device features a bioconversion capability, eliminating the requirement to carry out an interventional procedure for its retrieval.

Sentry has 510(k) regulatory clearance from the US Food and Drug Administration (FDA).

In a clinical trial, the device did not show any new symptomatic PE and evidence of device migration, tilt, fracture, perforation, embolisation or complications seen with certain IVC filters.

The company plans to commercially launch Sentry in the US market in the second half of fiscal year 2018/2019.

BTG CEO Louise Makin said: “This bolt-on acquisition further enhances BTG’s strength in the vascular space. Novate’s unique IVC filter offers our existing customers a highly complementary product in the management of PE.”

This acquisition follows the company’s acquisition of US-based cardiovascular speciality catheter makers Roxwood Medical last year.

Roxwood Medical developed CenterCross, CenterCross, Ultra and MultiCross anchoring catheters, along with MicroCross microcatheters to address complex lesions and arterial blockages in patients with severe coronary and peripheral artery disease.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The medical device industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Medical Device Network