HeartWare International Acquires Valtech Cardio

Medical device developer HeartWare International (Framingham, MA, USA) has bought medical startup Valtech Cardio (Or Yehuda, Israel), developer of a novel heart valve repair and replacement technology, for an estimated USD 920 million in stock.

HeartWare International is a leading innovator of miniaturized circulatory support technologies, such as ventricular assist devices (VADs), which are revolutionizing the treatment of advanced heart failure (HF). The acquisition of Valtech Cardio, which specializes in surgical and transcatheter valve repair and replacement devices for the treatment of mitral valve regurgitation (MR) and tricuspid valve regurgitation (TR), will provide HeartWare with multiple commercial opportunities in the significantly underserved areas of mitral and tricuspid valve diseases, from which many VAD patients suffer.

HeartWare will benefit from a wide technology portfolio, including Cardioband, an interventional, transfemoral, direct annuloplasty system designed for MR and TR repair; CardioValve, a transseptally delivered, low-profile, transcatheter mitral valve replacement (TMVR) system with five degrees of steering maneuverability; Cardinal, a semi-rigid, adjustable, annuloplasty ring system that enables fine-tuning of the ring diameter and leaflet coaptation on a beating heart; and V-Chordal, a surgical and interventional chord replacement system for noninvasive MR repair.

“Valtech provides HeartWare with commercial-stage products for mitral repair, as well as a robust technology pipeline, an advanced R&D center and an impressive, experienced team with a proven track record,” said Doug Godshall, CEO of HeartWare International. “This combination represents an attractive opportunity for value creation for HeartWare shareholders, customers, employees, and patients by expanding HeartWare's footprint in the high-growth structural heart market.”

“By joining HeartWare, we can more quickly and fully realize the potential of our pipeline technologies and further influence the underpenetrated markets that we serve,” said Amir Gross, Founder and CEO of Valtech. “Together, we can offer clinical heart failure teams a compelling portfolio of surgical and interventional technologies to serve the advanced heart failure population.”


Related Links:
HeartWare International
Valtech Cardio