Medtronic has announced plans to exercise its option to acquire medical device company CathWorks, which is focused on transforming the diagnosis and treatment of coronary artery disease (CAD), for $585m.

This follows a 2022 partnership between Medtronic and CathWorks, including a co-promotion agreement for the latter’s FFRangio System in Japan, Europe, and the US.

The proposed transaction has potential for further undisclosed earn-out payments following completion.

Developed by CathWorks, the FFRangio System offers an alternative approach by utilising AI and advanced computational science to provide a comprehensive physiological assessment from standard coronary angiograms.

Clinical evidence has shown that this technology offers diagnostic accuracy and promising outcomes compared with conventional wire-based fractional flow reserve (FFR) methods.

CathWorks president and CEO Ramin Mousavi said: “We are thrilled to have CathWorks officially become part of the Medtronic family. Our successful co-promotion over the past three years has unlocked significant opportunities in the coronary physiology market through the expanded utilisation of our innovative technology.

“With Medtronic's vast global footprint, FFRangio will continue to reach even more patients globally. Bringing Medtronic and CathWorks together will create a best-in-class organisation focused on driving new standards of care to transform the cath lab.”

The acquisition remains subject to US Federal Trade Commission (FTC) clearance and other regulatory approvals and customary closing conditions.

The companies anticipate completing this phase by the close of Medtronic’s FY26. Until then, both businesses will continue operating independently.

In December 2025, Medtronic commercially launched its MiniMed 780G system in the US, now integrated with Abbott’s Instinct sensor.