Medtronic has announced it will exercise its option to acquire CathWorks.
The intent to acquire CathWorks follows a 2022 strategic partnership with a co-promotion agreement for the CathWorks FFRangio system in the USA, Europe and Japan, where it is commercially available. The acquisition is valued at up to US$585 million with potential undisclosed earn-out payments post-acquisition.
“Medtronic is thrilled to move forward with our option to officially acquire CathWorks. Through our co-promotion agreement, we’ve seen how CathWorks can disrupt the traditional wire-based FFR [fractional flow reserve] segment and leverage the power of data and artificial intelligence (AI) to deliver innovative solutions that assist physicians at every step of a patient’s journey, from diagnosis to treatment,” said Jason Weidman, senior vice president and president of the Coronary & Renal Denervation business, which is part of the Cardiovascular Portfolio at Medtronic. “This acquisition allows Medtronic to transform the cath lab with a technology that provides real-time data, informs individualised treatment approaches, and drives new standards of care.”
Coronary physiology, most commonly assessed using FFR, helps physicians identify which lesions truly cause ischaemia. This enables appropriate revascularisation for patients who need it, while avoiding unnecessary percutaneous coronary intervention (PCI) in those who do not.
Alternatively, using a combination of artificial intelligence (AI) and advanced computational science, the CathWorks FFRangio system provides a comprehensive physiological assessment of the entire coronary tree directly from routine coronary angiograms. Clinical evidence has demonstrated promising diagnostic accuracy and clinical outcomes when compared with wire-based FFR.
“We are thrilled to have CathWorks officially become part of the Medtronic family,” said Ramin Mousavi, president and chief executive officer of CathWorks. “Our successful co-promotion over the past three years has unlocked significant opportunities in the coronary physiology market through the expanded utilisation of our innovative technology. With Medtronic’s vast global footprint, FFRangio will continue to reach even more patients globally. Bringing Medtronic and CathWorks together will create a best-in-class organisation focused on driving new standards of care to transform the cath lab.”
This deal is pending clearance from the US Federal Trade Commission (FTC). This phase is expected to be completed by the end of Medtronic’s fiscal year 2026, subject to applicable regulatory approvals and other customary closing conditions. At the date of the acquisition closing, CathWorks will then become a part of Medtronic. Medtronic and CathWorks will continue to operate independently until the deal is closed.
