Sam Brusco, Associate Editor04.11.23
Shockwave Medical has completed its acquisition of Neovasc. The up to $147 million deal was first announced in January 2023.
Shockwave is a pioneer in developing intravascular lithotripsy (IVL) tech to treat severely calcified cardiovascular disease. Neovasc’s Reducer system is a first-of-its-kind technology to address refractory angina, a chronic condition where the patient suffers chest pain that can’t be controlled with conventional therapies.
The Reducer provides relief of angina symptoms by altering blood flow in the heart’s myocardium and increasing perfusion of oxygenated blood to ischemic areas of the heart muscle. Placement is performed via a minimally invasive transvenous procedure.
The Reducer was granted breakthrough device status by the U.S. Food and Drug Administration (FDA) in 2018, has a CE mark, and is currently enrolling patients in the COSIRA-II study being conducted under an Investigation Device Exemption (IDE) to support FDA approval for patients with coronary obstructive refractory angina.
Shockwave acquired all of the outstanding common shares of Neovasc (the “Common Shares”) for $27.25 per share in cash. The company also initiated full U.S. launch of its Shockwave L6 peripheral IVL catheter last month.
More financial information regarding the transaction can be found in a press release issued by Neovasc.
Shockwave is a pioneer in developing intravascular lithotripsy (IVL) tech to treat severely calcified cardiovascular disease. Neovasc’s Reducer system is a first-of-its-kind technology to address refractory angina, a chronic condition where the patient suffers chest pain that can’t be controlled with conventional therapies.
The Reducer provides relief of angina symptoms by altering blood flow in the heart’s myocardium and increasing perfusion of oxygenated blood to ischemic areas of the heart muscle. Placement is performed via a minimally invasive transvenous procedure.
The Reducer was granted breakthrough device status by the U.S. Food and Drug Administration (FDA) in 2018, has a CE mark, and is currently enrolling patients in the COSIRA-II study being conducted under an Investigation Device Exemption (IDE) to support FDA approval for patients with coronary obstructive refractory angina.
Shockwave acquired all of the outstanding common shares of Neovasc (the “Common Shares”) for $27.25 per share in cash. The company also initiated full U.S. launch of its Shockwave L6 peripheral IVL catheter last month.
More financial information regarding the transaction can be found in a press release issued by Neovasc.