Medtronic Completes $585M Acquisition of CathWorks

Medtronic revealed it’s completed the acquisition of CathWorks, a privately-held company aiming to transform how coronary artery disease (CAD) is diagnosed and treated.

The deal comes after a 2022 strategic partnership with a co-promotion agreement for the CathWorks FFRangio system, where it’s available for sale in the U.S., Europe, and Japan. The transaction is valued at $585 million with possible undisclosed earn-out payments post-acquisition.

The FFRangio system mergers artificial intelligence (AI) and advanced computational science to generate a comprehensive physiological assessment of the whole coronary tree from routine, drug-free, wire-free coronary angiograms. It differs from traditional wire-based fractional flow reserve (FFR) assessment, which is invasive and needs pressure wires, pharmacologic hyperemia, and measurements limited to a single transducer location in the vessel.

“With the acquisition of CathWorks by Medtronic, we are boldly redefining the future of cardiovascular care,” said Ramin Mousavi, president and CEO of CathWorks. “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.”

This announcement follows CathWorks’ recent one-year results from its landmark ALL-RISE trial. The trial included over 1,9000 patients and showed that FFRangio is non-inferior to wire-based physiology in terms of major adverse cardiac events (MACE) at one year, with improved resource utilization and reduced procedure time benefits.

“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,” said Jason Weidman, senior vice president and president of Medtronic’s Coronary & Renal Denervation business. “Through our global footprint, welcoming CathWorks to Medtronic will expand access to the transformative FFRangio technology for our customers and their patients worldwide.”