In February, Medtronic announced a deal to acquire the company, which aims to transform the diagnosis and treatment of coronary artery disease (CAD), with a value of up to $585 million. The medtech giant took up a minority stake in CathWorks back in 2018.
In 2022, Medtronic entered into a strategic partnership with the coronary artery disease (CAD) technology developer. As part of that agreement, the medtech giant agreed to invest up to $75 million and immediately begin co-promotion for CathWorks’ FFRangio system in the U.S., Europe and Japan, where it is commercially available.
CathWorks designed its FFRangio system to combine AI and advanced computational science to obtain quick and reliable fractional flow reserve (FFR, the diagnostic technique for evaluating the physiologic impact of coronary artery stenosis) values from routine angiograms (X-rays).
The approach differs from the traditional invasive FFR assessment. This utilizes pressure wires, pharmacologic hyperemia and measurements limited to a single transducer location within the vessel.
CathWorks recently shared one-year clinical results demonstrating the system’s non-inferiority to wire-based physiology. FFRangio demonstrated improved resource utilization and reduced procedure time benefits in a trial of more than 1,900 patients.
Medical Design & Outsourcing: The story behind Medtronic’s $585 million CathWorks deal
Commentary from Medtronic and CathWorks officials
Ramin Mousavi, CathWorks CEO, said:
“With the acquisition of CathWorks by Medtronic, we are boldly redefining the future of cardiovascular care. As I reflect on our long-term partnership, I am deeply grateful and proud of what we’ve accomplished together. This deal is a testament to CathWorks’ and Medtronic’s shared commitment, vision, and relentless drive to revolutionize the cath lab and deliver better solutions for patients living with cardiovascular disease. Together, we have ushered in a new dawn in cardiovascular diagnosis and patient outcomes.”
Jason Weidman, SVP and president of the Coronary & Renal Denervation business at Medtronic, said:
“The acquisition of CathWorks significantly enhances Medtronic’s interventional cardiology portfolio with an innovative system that empowers physicians with data-driven insights for the diagnosis and treatment of coronary artery disease. Through our global footprint, welcoming CathWorks to Medtronic will expand access to the transformative FFRangio technology for our customers and their patients worldwide.”
Skip Kiil, EVP and president, Cardiovascular at Medtronic, said:
“The acquisition of CathWorks is the latest example of our commitment to purposeful investment and strategic tuck-in acquisitions to advance the Medtronic innovation strategy. This positions Medtronic at the forefront of digital transformation in cardiovascular, allowing us to deliver next-generation solutions for physicians and their patients.”
