MEDRAD Acquires Pathway Medical Technologies

MEDRAD Inc., an affiliate of Bayer HealthCare, has acquired Pathway Medical Technologies Inc. of Kirkland, Wash. Financial terms of the agreement were not disclosed. The acquisition is expected to expand MEDRAD’s presence in the field of vascular intervention technologies and strengthen its interventional business as a whole.

“The combination of MEDRAD and Pathway Medical Technologies underscores our strategic commitment to the treatment of patients in the growing interventional field,” said Jorg Reinhardt, M.D., chairman of the Board of Management of Bayer HealthCare. “Pathway’s products complement MEDRAD Interventional’s current and future portfolio including our injectors, thrombectomy devices and the Cotavance paclitaxel coated balloon catheter with Paccocath technology and will enable us to extend value to customers and patients through broader product options to diagnose and treat PAD (Peripheral Arterial Disease).”

Pathway Medical Technologies’ JETSTREAM devices allow for a minimally invasive procedure designed to restore circulation in the peripheral arteries by reducing vascular narrowing caused by plaque. These products are designed to remove plaque without harming healthy tissue.

“From Pathway’s perspective, Bayer HealthCare’s broad and proven international distribution infrastructure presents an exciting platform for the more rapid expansion of Pathway’s product portfolio into attractive and largely underpenetrated international markets,” said Paul Buckman, president and CEO of Pathway Medical Technologies.

MEDRAD is headquartered in Warrendale, Pa.