Spectranetics completes acquisition of Stellarex(TM) Drug Coated Balloon Assets from Covidien

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COLORADO SPRINGS, Colo., Jan. 27, 2015 (GLOBE NEWSWIRE) -- The Spectranetics Corporation (Nasdaq:SPNC) today announced it has completed the acquisition of Covidien's Stellarex(TM) drug coated balloon angioplasty (DCB) platform. The transaction closed after the acquisition of Covidien by Medtronic.

The Stellarex DCB platform received European CE mark approval in December 2014. Spectranetics launched the product in Europe today, with U.S. commercialization anticipated in the 2017 timeframe, following FDA approval.

"This transaction meaningfully enhances Spectranetics' portfolio," said Scott Drake, President and CEO, Spectranetics. "Stellarex is an ideal strategic fit, complementing our suite of highly differentiated cardiovascular clinical solutions designed to enable physicians to cross, prepare and treat the most complex vascular disease. We are excited to have the Stellarex team become part of SPNC. They are an incredible asset and we are proud to advance their work as we continue with the ILLUMENATE clinical trials and product launch."

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