Irish company Covidien has completed the acquisition of Reverse Medical, a US-based privately held medical device firm, for an undisclosed amount.
Covidien said that the US medical device firm focuses on solutions for the management of vascular disease.
Covidien neurovascular president Brett Wall said: “Covidien is focused on technologies that deliver improved patient care through clinically relevant and economically valuable solutions.
“The acquisition of Reverse Medical is complementary to our existing portfolio and will allow us to leverage existing vascular technologies to compete in the worldwide vascular embolisation market, which is growing at a double-digit rate.”
The acquisition will help Covidien integrate Reverse Medical business into its neurovascular product line in the medical devices segment.
At present, Reverse Medical is commercialising its vascular embolisation plugs, MVP Micro Vascular Plug System and UNO Neurovascular Embolisation System.
Covidien noted that MVP and UNO are self-expanding vessel occlusion devices that close blood vessels for vascular embolisation.
The US firm also produces products such as ReVerse Microcatheter for device delivery and Barrel Vascular Reconstruction Device (VRD), a self-expandable bifurcation aneurysm bridging device.
Having secured CE Mark approval, all devices are commercially available in Europe.
Additionally, MVP-3 and MVP-5 have received 510(k) approval from the US Food and Drug Administration (FDA).
Earlier this month, the FDA has approved Covidien’s changes to the manufacturing process for the polytetrafluoroethylene (PTFE) coating on the delivery wire of its pipeline embolisation device.
The pipeline device is indicated for the endovascular treatment of adults 22 years of age and older with large or giant wide-necked intracranial aneurysms in the internal carotid artery from the petrous to the superior hypophyseal segments.