Bayer HealthCare, along with its affiliate, Medrad, has acquired Pathway Medical Technologies, of Kirkland, Wash. Financial terms of the agreement were not disclosed.
With this acquisition, the Leverkusen, Germany-based Bayer said it is seeking to strengthen its Medrad Interventional business through the vascular intervention technologies.
Pathway develops mechanical atherectomy devices in the field of vascular intervention to treat peripheral arterial disease (PAD). Pathway's Jetstream devices, for example, allow for a minimally invasive procedure designed to restore circulation in the peripheral arteries by reducing vascular narrowing caused by plaque. Medrad also has offerings in PAD treatment with its AngioJet and Cotavance products.
The Cotavance catheter received CE mark certification in Europe in 2011. Medrad Interventional also said it is moving forward with the investigational device exemption process as one of the steps in gaining FDA approval for Cotavance in the U.S.