European medtech firm Balt International said today it acquired endovascular device developer Blockade Medical for an undisclosed amount.
The acquisition is part of Balt’s ongoing strategy to bolster its neurovascular portfolio as well as efforts to develop a presence in the U.S., the company said.
“This acquisition is a first strategic move towards transforming Balt into an integrated global neurovascular device company. Balt is recognized as a 1st mover in the market thanks to a world-class R&D team, which has proven its ability and rapidity to develop blockbuster products such as the Leo stent, the Silk flow diverter and the Sonic detachable tip micro catheter. Blockade will nicely complement our product portfolio and will give us a strong expandable U.S.-based platform for our future development,” Balt Inc prez Pascal Girin said in a press release.
The acquisition will give Balt an immediate presence in the U.S. and adds Blockade’s Barricade coil system to the company’s portfolio. The company said that it will focus on the development and commercialization of new neurovascular devices for the treatment of aneurysms, stroke and neurovascular conditions.
“Blockade Medical is excited to join the Balt team. We believe the neurovascular expertise at Blockade Medical will complement Balt’s efficient and innovative organization. Unlike most competitors, Balt masters the whole value chain from design, manufacturing to distribution,” Blockade Medical CTO & prez Dave Ferrera said in prepared remarks.
“We are proud to have Blockade Medical as a part of the Balt organization. Together, we will bring to market high quality products and maintain full technological independence, both at the root of innovation power,” Balt prez Nicolas Plowiecki said in a prepared release.