Venture is described as a deflectable-tip catheter used to provide guidewire directional control in coronary and peripheral interventional procedures. The catheter is currently sold in U.S. and international markets in three versions — over-the-wire, rapid-exchange and coronary sinus.
Vascular Solutions has acquired all remaining finished goods inventory of the Venture catheter for immediate transition of existing sales, and has acquired the manufacturing equipment to begin the process of restarting and qualifying production in Vascular Solutions’ existing manufacturing facility. The total purchase price is $3 million.
“We are pleased that we were able to work successfully with St. Jude Medical to keep this important clinical tool on the market and available to the physicians who use the Venture catheter infrequently, but in some of their most challenging procedures,” said Howard Root, CEO of Vascular Solutions, in the release. “While the Venture catheter is an established product, the remaining finished goods inventory being transferred to us is extremely limited, which will only allow very limited sales until we have established manufacturing in-house and can perform a complete commercial re-launch in 2013.”
Vascular Solutions is headquartered in Minneapolis. Jude Medical is headquartered in St. Paul, Minn.
Related Articles on Acquisitions:
Kinetic Concepts to Sell Therapeutic Support Systems Business to Getinge AB for $275M
