Medtronic Announces Early Site Release of New Radial Artery Access Portfolio Following First-in-Patient Procedure

Rhea-AI Summary

Medtronic has expanded its radial artery access portfolio by acquiring RIST Neurovascular. This portfolio includes the first catheter designed for neurointerventions via the radial artery, enhancing Medtronic's capabilities in treating brain aneurysms and other neurovascular conditions. The Rist 079 Radial Access Guide Catheter and Selective Catheter have received FDA 501(k) clearance. Medtronic has completed over 80 cases with positive feedback from physicians, aiming to further develop this portfolio. Although initial revenue contributions are expected to be low, the acquisition aligns with Medtronic's long-term financial objectives.

Positive

• Acquisition of RIST Neurovascular enhances Medtronic's neurovascular treatment capabilities.
• Rist 079 Radial Access Guide Catheter is the first catheter designed specifically for radial artery access in neurointerventions.
• Over 80 successful cases completed, receiving positive physician feedback.
• Transaction expected to align with Medtronic's long-term financial metrics for acquisitions.

Negative

• Revenue and earnings contribution from the acquisition expected to be immaterial in the first two years.

Acquisition of RIST Neurovascular Enhances Medtronic's Capabilities to Serve Patients Treated for Brain Aneurysms and Other Neurovascular Conditions

DUBLIN, Feb. 1, 2021 /PRNewswire/ -- Medtronic plc (NYSE:MDT), the global leader in medical technology, today announced expansion of its limited site release of the recently acquired radial artery access portfolio from privately-held RIST Neurovascular, Inc., which includes the Rist™ 079 Radial Access Guide Catheter and Rist™ Radial Access Selective Catheter. Terms of the acquisition were not disclosed.

"Rist 079 Radial Access Guide Catheter is the first catheter that has been specifically designed for neurointerventions using the radial artery pathway in the wrist. This is the first-of-its-kind device that optimizes transition zones for the required navigability and support that is unique to the radial trajectory when compared to the femoral approach," said R. Webster Crowley, M.D., chief of Cerebrovascular and Endovascular Neurosurgery, Rush University Medical Center, who performed the first-in-patient procedure in September 2020. "The Rist Radial Access portfolio gives clinicians who perform neurovascular procedures the full spectrum of access and delivery devices that are optimized for the patient's condition and anatomy. This should help improve the care we deliver to patients treated for neurovascular conditions."

The addition of the Rist 079 Radial Access Guide Catheter and Selective Catheter to the Medtronic neurovascular portfolio enhances the company's ability to serve patients that require interventional neurovascular therapy. Rist 079 Radial Access Guide Catheter and Rist Radial Access Selective Catheter received U.S. Food and Drug Administration (FDA) 501(k) clearance last year.¹

"The Rist radial access portfolio is an ideal strategic fit for Medtronic as our goal is to offer the most advanced, patient-preferred delivery tools to meet the needs of neurovascular professionals," said Stacey Pugh, president of the Neurovascular Therapies business, which is reported as part of the Restorative Therapies Group at Medtronic. "We are excited to announce that we have completed more than 80 cases in our limited market release evaluation at 12 institutions² and are very pleased with performance and physician feedback. We also will be developing and expanding the portfolio to fully serve the broad patient population."

Since 2018, the American Heart Association³ has recommended transradial techniques for cardiovascular endovascular interventions for acute coronary syndrome citing lower bleeding and vascular complications than transfemoral artery access. The neuro-interventionalist community is examining adoption of the transradial approach to their practice.

The acquisition of RIST Neurovascular, Inc., closed in August 2020 and is the eighth in a series of tuck-in acquisitions Medtronic has announced since January 2020. The revenue and earnings contribution is expected to be immaterial to the Medtronic Neurovascular business in the first two years and accretive thereafter. In addition, this transaction is expected to meet Medtronic's long-term financial metrics for acquisitions.

About the Rist Radial Access Catheters
The Rist 079 Radial Access Guide Catheter is indicated for the introduction of interventional devices into the peripheral, coronary, and neuro vasculature.

The Rist Radial Access Selective Catheter is indicated for the introduction of interventional devices into the peripheral, coronary and neuro vasculature. It can be used to facilitate introduction of diagnostic agents in the neuro vasculature. It is not intended to facilitate introduction of diagnostic agents in coronary or peripheral arteries.

About Medtronic
Medtronic plc (www.medtronic.com), headquartered in Dublin, Ireland, is among the world's largest medical technology, services, and solutions companies – alleviating pain, restoring health, and extending life for millions of people around the world. Medtronic employs more than 90,000 people worldwide, serving physicians, hospitals, and patients in more than 150 countries. The company is focused on collaborating with stakeholders around the world to take healthcare Further, Together.

Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.

1. Rist Neurovascular Inc. 510 K  K191551 and K201682
2. Data on file
3. https://www.ahajournals.org/doi/full/10.1161/HCV.0000000000000035

Contacts:
David T. Young	Ryan Weispfenning
Public Relations	Investor Relations
+1-774-284-2746	+1-763-505-4626

 

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/medtronic-announces-early-site-release-of-new-radial-artery-access-portfolio-following-first-in-patient-procedure-301218657.html

SOURCE Medtronic plc

FAQ

What is the significance of Medtronic's acquisition of RIST Neurovascular?

The acquisition enhances Medtronic's ability to treat neurovascular conditions with advanced access tools designed for radial artery use.

What products are included in Medtronic's radial artery access portfolio?

The portfolio includes the Rist 079 Radial Access Guide Catheter and Rist Radial Access Selective Catheter.

When did Medtronic acquire RIST Neurovascular?

The acquisition of RIST Neurovascular was completed in August 2020.

What are the expected financial impacts of the RIST acquisition for Medtronic?

Initial revenue contributions are expected to be immaterial for the first two years but accretive thereafter.

How has the market responded to the Rist radial access tools?

Medtronic has completed over 80 cases with positive feedback from physicians during its limited market release.