HeartWare International recently announced that it has entered into a definitive agreement to acquire Valtech Cardio, Ltd. Yehuda, Israe-based Valtech Cardio currently provides a transcatheter mitral valve repair product for the treatment of mitral regurgitation, the Cardioband, and is also working on a transcatheter mitral valve replacement product, the Cardiovalve. Traditional treatment options for mitral regurgitation require open heart surgery–however, many patients suffering from mitral regurgitation are too weak to undergo that surgery. As reported, the deal could approach a total value of nearly one billion dollars, but the final number depends heavily on the Valtech Cardio products reaching future milestones such as acquiring CE Mark approval and hitting net sales totals.
Valtech Cardio is the third company developing a transcatheter mitral valve to be acquired in the last two months, following the acquisitions of CardiAQ by Edwards Life Sciences, and of Twelve, Inc. by Medtronic. HeartWare International is a publicly traded medical device company focused on implantable cardiovascular devices. HeartWare International’s corporate headquarters are located in Framingham, Massachusetts.