On February 2nd, 2016, Abbott announced its acquisition of Kalila Medical, Inc., a private medical device company using cardiac electrophysiology procedures for the treatment of heart rhythm disorders. According to the press release, the California-based company developed a steerable sheath (Vado®) for atrial fibrillation and other electrophysiology procedures. The technology helps clinicians by improving torque response, prevent whipping, and provide better navigation ability.
“Atrial fibrillation is a serious condition that increases the risk of stroke and causes severe symptoms in many patients, but remains undertreated today because current technologies have limited effectiveness,” said electrophysiology GM Michael Pederson. “With this acquisition, Abbott gains a unique technology to expand our portfolio of tools for the treatment of atrial fibrillation and other heart rhythm disorders. We look forward to initiating the launch of this innovative sheath in the United States and Europe in the coming weeks.”
Abbott has made other acquisitions relating to arrhythmia diagnosis and management. In October, 29, 2014, Abbott announced its agreement to purchase Topera, Inc. for $250 million, another private medical device company that developed a novel diagnostic catheter and mapping software, which help physicians identify the electrical source of complex cardiac arrhythmias. Abbott also secured the right to purchase Advance Cardiac Therapeutics, Inc. in the future, a medical device company that develops temperature-sensing irrigated radiofrequency ablation catheters for treatment of atrial fibrillation. Abbott also joined with GE for a collaborative effort to improve diagnostics for patients with atrial fibrillation.
According to the press release, atrial fibrillation is the most common heart rhythm disorder, with five million new cases reported annually. Some estimate the global electrophysiology market to grow at a compound annual growth rate of 10.3% from 2014 to 2019, to reach a market of $4.73 billion.