Medtronic Completes Acquisition of Invatec and Affiliated Companies

Medtronic, Inc. has completed the acquisition of Invatec, a developer of medical technologies for the interventional treatment of cardiovascular disease. The acquisition includes two affiliated companies: Fogazzi, which provides proprietary polymer technology to Invatec; and KRAUTH Cardio-Vascular, which has grown Invatec’s market position in Germany. Invatec develops novel devices for the treatment of coronary and peripheral vascular disease. The newly added business will be led by general manager Ross Allen, a 19-year veteran of Medtronic with leadership experience across four divisions, most recently as vice president of finance for the CardioVascular business. Invatec’s founders will stay with the new business in senior leadership positions: Andrea Venturelli as vice president of research and development and chief technology officer; and Stefan Widensohler as vice president of global sales. Medtronic plans to maintain Invatec’s European operations in order to stay close to the existing core customer base in Europe, the source of many collaborative innovations that have advanced the treatment of cardiovascular disease. To ensure the continuity of these operations, Medtronic purchased Invatec facilities in Brescia, Italy (near Milan) and the lease on an existing facility in Frauenfeld, Switzerland (near Zurich) has been extended. Invatec pioneered the development and commercialization of lesion-specific solutions for coronary and peripheral vascular disease. * For below-the-knee disease, Invatec was the first company to make and market a percutaneous transluminal angioplasty balloon, self-expanding stent, balloon-expandable stent and guidewire specifically designed for that indication. * For carotid artery disease, Invatec designed and commercialized a stent to provide ease of delivery and adequate coverage of the lesion. Products also include a proximal and distal embolic protection device. * In addition, Invatec developed four drug-eluting balloons, covering the coronaries and lower-extremity vessels. Of these therapies, only devices for the treatment of below-the-knee disease are currently approved for use in the United States.