German healthcare company Fresenius Kabi has signed a definitive agreement to acquire US-based medical technology firm Ivenix.
The acquisition will include an upfront payment of $240m, as well as milestone payments connected to the achievement of commercial and operating targets.
Ivenix has designed an infusion system that includes a large volume pump with infusion management software tools, administration sets, applications and analytics to inform care and advance efficiency.
The infusion system was designed to reduce infusion-related errors.
It was launched last year after receiving clearance from the US Food and Drug Administration (FDA).
Fresenius Kabi president and CEO Michael Sen said: “Combining Ivenix’s expertise in pump technology and software with our infrastructure, portfolio and presence in hospital settings represents an ideal opportunity.
“We intend to scale the launch of Ivenix’s next-generation infusion system while driving growth opportunities in the United States.”
Ivenix expects that the combination of its advanced infusion system with Fresenius Kabi’s intravenous fluids and infusion therapy will bring a comprehensive infusion products portfolio to hospitals in the US.
The transaction is intended to expedite operational and commercial growth and scale to provide a platform for ‘rapid’ expansion.
In addition, it will expand Ivenix’s combined infusion therapy portfolio and infusion capabilities.
Ivenix CEO Jorgen B Hansen said: “We’re very pleased to partner with Fresenius Kabi, a leading global health care company.
“Together, we intend to transform the standard of care for North American health care providers and patients by providing the highest level of safe and effective integrated infusion care.”
The deal is expected to close by the middle of this year subject to regulatory approvals and other customary closing conditions.
Last month, Fresenius Kabi received 510(k) clearance for its wireless Agilia Connect Infusion System with Vigilant Software Suite-Vigilant Master Med Technology from the FDA.