07.22.14
Who says deals are dead? Not to be left out of all the recent buyout excitement, Danvers, Mass.-based Abiomed Inc.
recently completed the acquisition of Entwicklungsgesellschaft mbH (ECP), a cardiovascular-focused medical device company based in Berlin, Germany.
ECP is developing a percutaneous, expandable catheter pump that increases blood circulation from the heart with an external drive shaft. The pump design offers a potential flow rate of up to 4.5 liters per minute, and an insertion radius for the impeller and catheter smaller than 10 French. ECP holds patents or patent applications in over 40 patent families, valid with expirations up to the year 2033. These patents will be added to the approximately 100 patents and patent applications from Abiomed’s Impella cardiac catheter device.
This acquisition is part of Abiomed’s strategy to offer percutaneous hemodynamic support for minimally invasive procedures for complex treatment. Additionally, the transaction will further strengthen Abiomed’s position in intellectual property (IP) for axial and expandable pump capabilities. The unique characteristic of the Impella pump is its ability to contain the motor and pump inside the body and be deployed via catheter.
“This acquisition of ECP will assist in augmenting our existing intellectual property,” said Thorsten Siess, chief technology officer for Abiomed and inventor of the Impella product. “Our goal is to continuously enhance the Impella platform with technological capabilities that best serve our customers and improve patient care.”
In connection with the transaction, Abiomed has acquired all outstanding shares of ECP from Syscore GmbH for approximately $13 million in cash, with potential long-term payouts of $7 million for CE mark approval and $8 million for achieving aggregate worldwide revenue of $125 million for products using ECP patents.
Abiomed also has acquired AIS GmbH Aachen Innovative Solutions for approximately $2.75 million. AIS is headquartered in Aachen, Germany, and is the owner of certain IP rights related to ECP’s development efforts.
“As the established leader in percutaneous heart pumps with deep relationships in cardiology, existing regulatory approvals, extensive IP, a solid pipeline and strong cash balance, this acquisition further strengthens our position as the long-term innovator and leader in the field of temporary ventricular assist devices,” said Michael R. Minogue, chairman, president and CEO of Abiomed.
The ECP facility in Berlin and its employees will report into the Abiomed EU headquarters located in Aachen. The company’s future plans for this acquisition, in addition to augmenting its patent portfolio, are to potentially integrate the ECP technology into the existing Impella platform and/or incorporate ECP capabilities into a smaller insertion device with a reusable drive shaft, as a standalone low-cost product offering.
Abiomed makes medical devices that provide circulatory support.
recently completed the acquisition of Entwicklungsgesellschaft mbH (ECP), a cardiovascular-focused medical device company based in Berlin, Germany.
ECP is developing a percutaneous, expandable catheter pump that increases blood circulation from the heart with an external drive shaft. The pump design offers a potential flow rate of up to 4.5 liters per minute, and an insertion radius for the impeller and catheter smaller than 10 French. ECP holds patents or patent applications in over 40 patent families, valid with expirations up to the year 2033. These patents will be added to the approximately 100 patents and patent applications from Abiomed’s Impella cardiac catheter device.
This acquisition is part of Abiomed’s strategy to offer percutaneous hemodynamic support for minimally invasive procedures for complex treatment. Additionally, the transaction will further strengthen Abiomed’s position in intellectual property (IP) for axial and expandable pump capabilities. The unique characteristic of the Impella pump is its ability to contain the motor and pump inside the body and be deployed via catheter.
“This acquisition of ECP will assist in augmenting our existing intellectual property,” said Thorsten Siess, chief technology officer for Abiomed and inventor of the Impella product. “Our goal is to continuously enhance the Impella platform with technological capabilities that best serve our customers and improve patient care.”
In connection with the transaction, Abiomed has acquired all outstanding shares of ECP from Syscore GmbH for approximately $13 million in cash, with potential long-term payouts of $7 million for CE mark approval and $8 million for achieving aggregate worldwide revenue of $125 million for products using ECP patents.
Abiomed also has acquired AIS GmbH Aachen Innovative Solutions for approximately $2.75 million. AIS is headquartered in Aachen, Germany, and is the owner of certain IP rights related to ECP’s development efforts.
“As the established leader in percutaneous heart pumps with deep relationships in cardiology, existing regulatory approvals, extensive IP, a solid pipeline and strong cash balance, this acquisition further strengthens our position as the long-term innovator and leader in the field of temporary ventricular assist devices,” said Michael R. Minogue, chairman, president and CEO of Abiomed.
The ECP facility in Berlin and its employees will report into the Abiomed EU headquarters located in Aachen. The company’s future plans for this acquisition, in addition to augmenting its patent portfolio, are to potentially integrate the ECP technology into the existing Impella platform and/or incorporate ECP capabilities into a smaller insertion device with a reusable drive shaft, as a standalone low-cost product offering.
Abiomed makes medical devices that provide circulatory support.