Medtronic to Acquire Avenu Medical

Medtronic has announced the planned acquisition of Avenu Medical, a privately held medical device company based in San Juan Capistrano, US, focused on the endovascular creation of arteriovenous (AV) fistulae for patients with end-stage renal disease (ESRD) undergoing dialysis.

Avenu Medical's Ellipsys Vascular Access System is a single-catheter, ultrasound-guided device that inserts a catheter through the skin into the arm to create a durable AV fistula.

Co-founder of Avenu Medical Jeffrey Hull M.D. said: " Until recently, the only option to create a fistula was through invasive surgery, which is associated with high failure rates. The Ellipsys system has shown durable outcomes out to two-years and has the ability to shorten procedure times and potentially reduce costs. Unlike open surgery, sutures are not required after the procedure and the patient leaves with just an adhesive bandage."

The Ellipsys Vascular Access System bears the CE Mark for distribution in the European Union and is cleared by the US FDA. It is indicated in both geographies for the creation of a proximal radial artery to perforating vein anastomosis for percutaneous creation of an AV fistula.

Avenu Medical CEO Mark Ritchart added: "Medtronic's acquisition of Avenu aligns directly with our vision of bringing less invasive, endovascular solutions to patients requiring durable vascular access. With Medtronic's extensive market presence, clinical leadership, and market development expertise, coupled with Avenu's customer-focused team and innovative technology, we are confident that together, we can drive awareness and adoption of this technology globally."

Mark Pacyna, vice president and general manager of the Peripheral Vascular business at Medtronic, continued: "[W]ith the acquisition of Avenu Medical, we can support procedures across the vascular access care continuum, while continuing to provide innovative endovascular therapies that will ultimately reach even more patients with ESRD around the world."

The acquisition is expected to close in October, subject to the satisfaction of certain customary closing conditions. The acquisition of Avenu Medical is the sixth in a series of tuck-in acquisitions that Medtronic has made in 2020.