Medtronic inks stent distro deal with Contego with option to buy

Medtronic (NYSE: MDT) + announced today that it entered into an exclusive U.S. distribution agreement with Contego Medical.

Under the agreement, Medtronic serves as the sole U.S. distributor for Contego’s portfolio of commercially available products. Raleigh, North Carolina–based Contego offers products that provide revascularization treatment for carotid and peripheral vascular disease.

“This strategic agreement marks a significant milestone for both Contego Medical and Medtronic. By combining our innovative product portfolio with Medtronic’s extensive market presence and clinical leadership, we are positioned to revolutionize revascularization treatment in the carotid and peripheral vascular disease space,” said Dr. Ravish Sachar, founder and CEO of Contego Medical. “This partnership enhances our ability to deliver state-of-the-art solutions to patients and reinforces our commitment to expanding access across the United States.”

The agreement comes a week after Stryker announced a $4.9 billion deal to acquire Inari Medical and its thrombectomy systems for treating venous diseases.

The Medtronic-Contego deal includes the recently FDA-approved Neuroguard IEP 3-in-1 carotid stenting system. Neuroguard IEP delivers a high-performance stent, post-dilation balloon and an integrated embolic protection (IEP) filter, according to Contego. The company also offers the Excipio peripheral thrombectomy devices. Additionally, the company has an investigational Neuroguard IEP system with a next-generation direct transcarotid access and protection system under development.

Medtronic’s agreement also includes an increased investment in Contego and an option to acquire the company. The medtech giant has held a minority investment in Contego since 2020. Medtronic intends to leverage its Peripheral Vascular and Neurovascular commercial teams to distribute Contego products this spring.

“Contego’s innovations, backed by excellent data, are transforming how carotid disease is treated and complement the Medtronic peripheral and stroke protection portfolio,” said David Moeller, SVP and president of Medtronic Peripheral Vascular Health. “This strategic agreement with Contego Medical expands our commitment to this fast-growing carotid market and exemplifies Medtronic’s steadfast dedication to advancing innovation and enhancing patient care.”