Bayer Healthcare Acquires Pathway Medical Technologies

The financial terms of the transaction were not disclosed.

Medrad current offerings in the peripheral artery disease (PAD) treatment area include the AngioJet and Cotavance line of products, while PMT is a leader in mechanical atherectomy in the field of vascular intervention. PMT’s major line of products include the Jetstream devices, a minimally invasive treatment option to remove calcified and fibrotic plaque and restore circulation in the peripheral arteries using differential cutting. The combination of PMT's Jetstream, alongside Medrad’s offerings in this sector are expected to create a suite of products designed to assess vascular disease, restore blood flow in diseased vessels, and confirm treatment effectiveness.

“The combination of Medrad and Pathway Medical Technologies underscores our strategic commitment to the treatment of patients in the growing interventional field,” said Jorg Reinhardt, MD, chairman of the board of management of Bayer HealthCare. “Pathway's products complement Medrad's current and future portfolio, including our injectors, thrombectomy devices, and the Cotavance paclitaxel coated balloon catheter with Paccocath technology, and will enable us to extend value to customers and patients through broader product options to diagnose and treat PAD.”

“From Pathway's perspective, Bayer HealthCare's broad and proven international distribution infrastructure presents an exciting platform for the more rapid expansion of Pathway's product portfolio into attractive and largely underpenetrated international markets,” said Paul Buckman, president and CEO of Pathway Medical Technologies.

PAD refers to the obstruction of large arteries not within the coronary, aortic arch vasculature, or brain. It can result from atherosclerosis, inflammatory processes leading to stenosis, an embolism, or thrombus formation, and eventually causes either acute or chronic ischemia. PAD is most often used in reference to atherosclerotic blockages found in the lower extremity, and also includes a subset of diseases classified as microvascular diseases resulting from episodal narrowing of the arteries (Raynaud's phenomenon), or widening thereof, such as in vascular spasms.

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