MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

Home » Spectranetics closes $230M AngioScore buy

Spectranetics closes $230M AngioScore buy

By

Spectranetics closes $230M AngioScore buy

Colorado-based Spectranetics (NSDQ:SPNC) announced today that it consummated its $230 million acquisition of California-based AngioScore, adding that milestones payments are also on the forecast.

Spectranetics leadership touted the addition of AngioScore’s AngioSculpt scoring balloon technology platform, saying it diversifies Spectranetics’ existing portfolio and lets the company sell a more robust portfolio of treatments for critical limb ischemia, in-stent restenosis, calcified lesions and chronic total occlusions.

"We are very excited to complete this important transaction," Spectranetics president & CEO Scott Drake said in prepared remarks. "AngioScore meets our criteria with an exceptional strategic fit, leverageable call points, differentiated technology and clear operating efficiencies. With AngioScore now a part of our company, we have a meaningfully expanded market opportunity and a compelling product portfolio."

Spectranetics paid for the acquisition with $115 million in cash and $115 million in Spectranetics common stock, with additional payouts pending certain regulatory and commercial achievements. The company launched a $200 million funding round in May to help pay for the deal.

The news didn’t do much for SPNC shares today, which lost 1.4% and were trading at $22.88 as of about 4:45 p.m. today. The stock has gained 6.7% over the last month and is down 8.5% since the start of the year.

In case you missed it

RSS From Medical Design & Outsourcing

  • Intuitive Surgical names new C-suite leaders, reports Street-beating Q3
    Intuitive Surgical (NSDQ:ISRG) today announced changes in the ranks of its senior leadership as the surgical robotics maker released Q3 results that exceeded expectations. Sunnyvale, California-based Intuitive launched two new functional organizations — Strategy and Growth, and Global Business Services — and named leaders who will take over effective Jan. 1. Dave Rosa, a 25-year… […]
  • Johnson & Johnson discloses two-year delay for Ottava robot
    Johnson & Johnson (NYSE:JNJ) today confirmed that it experienced a “temporary setback” with its Ottava surgical robotic system. Speaking on the company’s third-quarter earnings call, transcribed by SeekingAlpha, J&J EVP Joseph Wolk said that while the company maintains its commitment to developing a general surgery offering with Ottava, the platform’s development timeline has been pushed back about two years… […]
  • BICO’s Cytena launches C.Station automated cell line development platform for antibody and gene therapies
    BICO Group subsidiary Cytena today announced the launch of its C.Station platform for automating the development of stable cell lines. Cytena said in a news release that C.Station is a user-friendly platform that covers the entire cell line development workflow, from single-cell cloning of transfected cells to the selection of high-producing clones and upscaling. Cytena… […]
  • Tungsten cable for surgical robotics: A complex material serving a complex application
    Tungsten mechanical cables are the most popular for surgical robot makers. Connor Chiuchiolo and Scott Dailey, Carl Stahl Sava Industries The mechanical cables that reside within the motion control systems of the most modern surgical robots can be so small that the individual filaments themselves are nearly impossible to see with the naked eye. So… […]
  • Phillips-Medisize expands its global manufacturing capacity
    Phillips-Medisize announced today that it expanded its global manufacturing capacity through several collaborations and internal initiatives. Hudson, Wisconsin-based Phillips-Medisize, a Molex company, said its global reach now encompasses 36 facilities with scalable, end-to-end capabilities tailored to help customers bring products to market quickly and efficiently from anywhere in the world. “As the preferred partner for… […]
  • OmniVision launches cable modules for single-use endoscopes, catheters
    OmniVision Technologies today announced that it has launched its OVMed OCHSA and OCHTA cable modules for single-use endoscopes and catheters. The Santa Clara, California-based company designed the medical-grade imaging subsystems with a small diameter camera module that is fully integrated with OVMed cables and mini-LED illumination. Get the full story on our sister site, Medical… […]
  • Machine Bio wins first BioTools Innovator competition
    The new BioTools Innovator accelerator program awarded its first $200,000 grand prize to Machine Bio after a live vote last week. Claremont, California-based startup Machine Bio was founded by David Marash, who serves as CEO.  “Machine Bio’s mission is to develop and commercialize a transformative protein expression platform that drastically minimizes the process of making… […]
  • Hologic CEO Steve MacMillan salutes CFO Karleen Oberton, offers his outlook and talks M&A
    After interviewing Hologic CFO Karleen Oberton for Medical Design & Outsourcing‘s annual Women in Medtech issue, we connected with CEO Steve MacMillan to get his take. He offered praise for his finance chief’s leadership throughout the pandemic, shared his outlook for the Marlborough, Massachusetts–based company’s future and discussed the M&A strategy for Hologic (NSDQ:HOLX), which… […]
  • Forecasting the future of urology with Boston Scientific’s Meghan Scanlon
    Meghan Scanlon, Boston Scientific’s president of urology and pelvic health, discusses the field and the challenges and opportunities ahead. The urology specialty faces a critical moment, with 10 urologists ready to retire for every new urologist entering the field, said Meghan Scanlon, SVP and president of urology and pelvic health at Boston Scientific (NYSE:BSX) That… […]
  • Women researchers receive a fraction of funding from the world’s biggest medtech companies
    The gender divide in medtech extends beyond leadership and into funding for investigational studies by U.S. physicians. Only 6.7% of physicians who received research payments from the world’s largest medical device companies in 2020 were women, according to an analysis of Medical Design & Outsourcing’s Big 100 list of medtech companies and CMS Open Payments… […]
  • Pentax Medical expands Vizient contract to include pediatric endoscopes
    Pentax Medical today announced it has expanded its contract with Vizient to include pediatric endoscopes. The contract will give Pentax Medical the ability to offer endoscopes to Vizient member hospitals through the Vizient Pediatric Program. The agreement also includes other value-added offerings, education opportunities and best practices. Get the full story on our sister site,… […]

Leave a Reply