Abbott Expands Global Peripheral Technology Portfolio

Idev Technologies is a privately held company focused on developing next-generation medical devices for use by interventional radiologists, vascular surgeons, and cardiologists. The purchase will confer it with possession of the Supera Veritas stent, a self-expanding nitinol stent designed to mimic the body’s natural movement, which is currently available to treat narrowing of the bile duct in cancer patients. Under the terms of the agreement, Abbott will acquire all outstanding equity of IDEV Technologies for USD 310 million net of cash and debt.

The stent’s biomimetic principles help promote blood flow in the treated area while offering strength and flexibility, properties that are particularly important when considering treatment for blockages in the blood vessels in the thigh and knee, where rapid and frequent movement occurs with daily activities such as walking, sitting, and standing. The FDA is also reviewing a premarket approval application (PMA) for use of the Supera Veritas in the treatment of peripheral artery disease (PAD) in the superficial femoral artery (SFA), the main artery in the thigh that supplies blood to lower extremities.

“The acquisition of Idev Technologies will expand and complement Abbott's existing peripheral technology portfolio of guidewires, balloon dilatation catheters and stents, making it one of the most comprehensive and competitive portfolios in the industry,” said Chuck Foltz, senior vice president of vascular at Abbott. “This technology has the potential to make a significant impact on the treatment of patients who suffer from peripheral artery disease, a growing concern around the world.”
In patients with PAD, fatty deposits accumulate on the inner wall of the artery, causing blockages, which reduce the flow of blood to lower parts of the leg. Patients with PAD can experience leg pain when walking and, if untreated, the disease can progress with severe consequences such as critical limb ischemia and amputation. Close to 27 million people in Europe and North America already suffer from PAD, and increasing prevalence is expected to place further economic burden on the healthcare system, making timely and effective treatment an important consideration.

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Abbott Laboratories
Idev Technologies