Abbott dives into EP market with 2 acquisitions
Abbott will buy two companies that develop electrophysiology products in a move designed to make Abbott a player in the catheter-based electrophysiology market. It also named a chief to lead the business.
The Abbott Park, Ill.-based healthcare company announced that it will acquire Topera, a private medical device company that specializes in diagnostic catheterization and software technology for treating patients with atrial fibrillation.
Topera’s rotor identification system assists during ablations by helping electrophysiologists identify and target heart tissue. Abbott will acquire outstanding equity of Topera for $250 million and will make potential future payments tied to performance milestones.
Abbott cited studies that showed the rotor identification system used with existing catheter ablation therapy had a single-procedure success rate of 87.5 percent in first ablation procedures and an 80.5 percent success rate at one-year follow-up.
Topera is headquartered in Menlo Park, Calif.
Abbott also will snap up ablation catheter developer Advanced Cardiac Therapeutics for an undisclosed amount. Advanced Cardiac Therapeutics makes a temperature-sensing catheter called TempaSure.
Advanced Cardiac Therapeutics is headquartered in Santa Clara, Calif.
Abbott tapped Michael Pederson, former president and chief executive officer of VytronUS, to lead the electrophysiology business.