Guerbet has announced that it has entered into an agreement under which it will acquire Israeli company Accurate Medical, which specialises in the development of microcatheters used in interventional radiology.
Accurate Medical has developed a range of microcatheters for embolization procedures of tumours and vascular aneurysms. These products are currently being registered with the US and European health authorities.
A press release from Guerbet states that this range includes two series of microcatheters.
The first series was designed and developed to propose an optimisation of microcatheters for intra-arterial navigation, even in case of tortuous vascular network and hardly accessible lesions.
The second series possess the same optimised navigation qualities, while also incorporating unique anti-reflux technology. This effect is achieved thanks to side holes located in the terminal part of the catheter, which create a fluid barrier preventing the reflux of embolization microspheres. This new technology makes it possible to administer more embolization microspheres to the targeted treatment area while also preventing them from refluxing upstream to arteries irrigating healthy tissues (non-targeted areas that need to be preserved; see picture above).
“This acquisition will fuel Guerbet’s growth in interventional radiology and will round out its current portfolio. This new range of microcatheters will allow us to help interventional radiology teams deliver a higher quality of care during image-guided embolization procedures” said Yves L’Epine, Guerbet’s CEO.
Agreement details
Under this agreement, Guerbet will acquire 100% of Accurate’s capital share, with an initial payment of 19.5 million euros and additional payments spread over several years depending on the achievement of regulatory and commercial objectives. The transaction is expected to start generating sales by the end of this year and be accretive from the 4th quarter of 2019. Accurate, founded in 2015, will retain its structure in Israel and will continue to be led by its inventor, co-founder and CEO Eran Miller.
