Bayer Healthcare acquire Pathway Medical Technologies in US

Bayer Healthcare to acquire Pathway Medical Technologies in US

10:27 PM, 2nd September 2011
Bayer Healthcare to acquire Pathway Medical Technologies in US
Dr Jorg Reinhardt, Chairman of the Board of Management of Bayer HealthCare.

 

LEVERKUSEN, GERMANY: Bayer HealthCare’s affiliate, MEDRAD Inc has acquired Pathway Medical Technologies Inc, based in Kirkland, US. Financial terms of the agreement were not disclosed. With this acquisition, Bayer HealthCare is strengthening its MEDRAD interventional business by expanding its presence in the field of vascular intervention technologies.

Pathway Medical Technologies is a leader in mechanical atherectomy in the field of vascular intervention. “The combination of MEDRAD and Pathway Medical Technologies underscores our strategic commitment to the treatment of patients in the growing interventional field,” said Dr Jorg Reinhardt, Chairman of the Board of Management of Bayer HealthCare.

“Pathway’s products complement MEDRAD interventional’s current and future portfolio including our injectors, thrombectomy devices and the Cotavance paclitaxel coated balloon catheter with Paccocath technology and will enable us to extend value to customers and patients through broader product options to diagnose and treat peripheral artery disease (PAD),” added Reinhardt.

“From Pathway’s perspective, Bayer HealthCare’s broad and proven international distribution infrastructure presents an exciting platform for the more rapid expansion of Pathway’s product portfolio into attractive and largely underpenetrated international markets,” said Paul Buckman, President and CEO, Pathway Medical Technologies.

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