Medtronic to acquire Avenu Medical, bolster peripheral vascular access portfolio

Dublin-based medical technology company Medtronic announced its plans to acquire San Juan, Calif., based Avenu Medical in a press release Sept. 30.

Avenu Medical is a private medical technology company focused on creating a minimally invasive arteriovenous fistulae for patients on dialysis due to end-stage renal disease, the release said. AV fistulae connect a vein and artery in the arm for dialysis; however, it's normally created in an open surgery.

Avenu Medical's Ellipsys Vascular Access System uses a single-catheter, ultrasound-guided device to create a sturdy AV fistula, the release said. The procedure can be done in an outpatient setting.

"Medtronic's acquisition of Avenu aligns directly with our vision of bringing less invasive, endovascular solutions to patients requiring durable vascular access," Mark Ritchart, president and CEO of Avenu Medical, said in the statement. "With Medtronic's extensive market presence, clinical leadership, and market development expertise, coupled with Avenu's customer-focused team and innovative technology, we are confident that together, we can drive awareness and adoption of this technology globally."

Terms of the acquisition weren't immediately available, the statement said. The deal is planned to close in October.

Read the full press release here.

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