Medtronic has finalized its acquisition of Affera, a Massachusetts-based healthcare technology company focused on the treatment of arrhythmias. The deal strengthens Medtronic’s cardiac ablation portfolio, helping the industry giant dive into the mapping and navigation side of electrophysiology technology for the first time.
No financial details were included in Medtronic’s official statement, but the company had indicated the deal was worth approximately $925 million when it was first announced in January. The two companies were already quite familiar with one another; Medtronic had a 3% ownership in Affera well before this deal was ever announced.
Affera’s portfolio includes interventional solutions such as the Affera Prism-1 mapping and navigation platform, designed to help electrophysiologists diagnose heart rhythm issues, and its Sphere-9 cardiac ablation catheter.
Affera’s product portfolio has not yet been approved for sale to the public. The SPHERE Per-AF Trial, a multicenter study comparing the Affera system with a control device for the treatment of persistent atrial fibrillation, is now underway.
“We're incredibly proud to have led the industry with the introduction of the proven safe and effective cryoablation technology; and now these new additions to our portfolio help support a leap forward in our commitment to build a comprehensive portfolio and help physicians achieve the best outcomes for patients,” Rebecca Seidel, president of Medtronic’s cardiac ablation solutions business, said in a statement.
“The Affera team is very excited to be joining Medtronic Cardiac Ablation Solutions,” added Doron Harley, Affera’s founder and CEO. “The acquisition enhances and accelerates our ability to treat millions of patients around the world suffering from cardiac arrhythmia with our innovative technology. Our team designed the Affera platform with physicians and patients in mind, to advance the field of electrophysiology while supporting safe and efficient cardiac ablation procedures.”