US-based medical device company Sunshine Heart has purchased the Aquadex product line from an indirect subsidiary of Baxter International.
The Aquadex FlexFlow system delivers aquapheresis therapy for patients with fluid overload who have failed diuretic therapy and require hospitalisation, using a simple mechanism to eliminate salt and water in the fluid overload.
The system can be used for both temporary ultrafiltration treatment for duration of up to eight hours, as well as for extended ultrafiltration treatment for longer hours.
The therapy can be performed through a peripheral or central venous access.
The Aquadex FlexFlow system features a single-use, disposable auto-loading blood filter circuit which simplifies the setting up of the device.
Sunshine Heart chairman and CEO John Erb said: “Aquadex is an important strategic investment, which allows Sunshine Heart to strengthen our presence in the heart failure market.
“We believe Aquadex is a valuable and highly complementary technology to our expanding heart failure product portfolio. There is a real need for fluid management in patients both before and following any kind of heart failure procedure.
“Aquadex is used to treat fluid overload in congestive heart failure patients and can help reduce the length of stay while in the hospital and the number of hospital visits in total.”
The transaction has earned Baxter $4m in cash and 1 million shares of Sunshine Heart common stock.
The company has also paid off the outstanding debt with Silicon Valley Bank and has entered into a new $5m credit facility to finance its future ventures.
According to Silicon Valley Bank managing director Ben Johnson, the acquisition will enhance Sunshine Heart’s scopes in catering to heart failure treatment.