Abbott (NYSE:ABT) said today that it’s buying into the electrophysiology business with a pair of acquisitions, a $250-million-plus deal for Topera Medical and another transaction for Advanced Cardiac Therapeutics and its ablation catheter.
The deal for Menlo Park, Calif.-based Topera and its cardiac arrhythmia mapping technology includes an unspecified amount pegged to "performance milestones," Abbott said.
Topera won 510(k) clearance from the FDA in January for the latest incarnation of its 3D mapping system, including the RhythmView workstation and FIRMap diagnostic catheter. The imaging system uses electrical signals, captured by a multipolar electrophysiology catheter, and creates a 3D image that can more accurately map cardiac arrhythmias.
Abbott said it also inked a deal for the right to acquire Santa Clara, Calif.-based Advanced Cardiac Therapeutics "upon completion of key milestones" for an unspecified amount. ACT is developing the TempaSure ablation catheter designed to improve the safety and effectiveness of ablation procedures.
"There is significant room to use advanced rotor identification technologies to improve the success rate and reduce the need for multiple ablation procedures, and thus improve the health of people with atrial fibrillation," Abbott medical devices executive vice president John Capek said in prepared remarks. "The Topera acquisition and our agreement with ACT provide a foundational entry into the large, high-growth electrophysiology market, with differentiated technologies that can transform the way physicians treat people with complex heart rhythm disorders."
"Topera’s mapping technology has the potential to change the paradigm for how physicians approach treating people with atrial fibrillation," added Dr. John Miller of Indiana University Health. "The ability to more accurately target the areas of the heart perpetuating atrial fibrillation is a significant advancement in the field of electrophysiology, which may allow us to treat more people with atrial fibrillation and lead to better health results."
Abbott said it tapped VytronUS president & CEO Michael Pederson to lead its new EP business. The deal for Topera is expected to close during the 4th quarter, according to a press release.
