TOKYO, JAPAN - March 2, 2018 - Terumo Corporation (TSE: 4543) today announced that it has entered into an agreement to acquire assets related to the large bore vascular closure device from Medeon Biodesign, Inc., a Taiwanese publicly traded medical device company. Under the terms of the agreement, Terumo will pay US$20 million upfront and additional payments based on the achievement of future specific development milestones. It will be funded through cash on hand. The impact of the acquisition on Terumo's business performance is being examined.
In recent years, the number of percutaneous cardiac and peripheral catheterization procedures that use a large bore device, such as Transcatheter Aortic Valve Implementation (TAVI), Endovascular Aneurysm Repair (EVAR) and Thoracic Endovascular Aneurysm Repair (TEVAR), has been increasing. Usage is projected to increase by over 20% per year.
The acquired device, a suture-mediated closure device with two braids targets percutaneous large bore procedure via the common femoral artery, is designed to achieve rapid and reliable hemostasis at the puncture sites with excellent clinical outcomes.
The device is undergoing evaluation for CE mark certification in Europe.
Terumo supplies a range of minimally invasive vascular access and closure devices. Terumo continues to expand its product portfolio in growing segments through both in-house development and external investment, such as the recent acquisition of Angio-Seal™ and FemoSeal™ family of vascular closure devices from Abbott Laboratories in January, 2017. Terumo aims to maximize the value of its businesses and contribute to supporting safe and efficient minimally invasive vascular procedures.
About Medeon Biodesign
Terumo (TSE: 4543) is a global leader in medical technology and has been committed to “Contributing to Society through Healthcare” for 100 years. Based in Tokyo and operating globally, Terumo employs more than 28,000 associates worldwide to provide innovative medical solutions in more than 160 countries and regions. The company started as a Japanese thermometer manufacturer, and has been supporting healthcare ever since. Now, its extensive business portfolio ranges from vascular intervention and cardio-surgical solutions, blood transfusion and cell therapy technology, to medical products essential for daily clinical practice such as transfusion systems, diabetes care, and peritoneal dialysis treatments. Terumo will further strive to be of value to patients, medical professionals, and society at large.