Volcano buys catheter company


Volcano (VOLC +0.9%) acquires privately-held AtheroMed, the developer of the Phoenix Atherectomy System used to treat peripheral artery disease. The Phoenix System received 510(k) clearance in January 2014 and CE Mark in 2013.

Under the terms of the acquisition agreement, Volcano will pay $115M at closing and another $15M if the AtheroMed device currently under FDA review receives clearance by November 15, 2014 (design for manufacturing improvements of current device). It will also be eligible for sales-based milestone payments.

The global atherectomy market is $350 - 400M growing at 7% per annum.

Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs