Argon Medical Devices Acquires Three Technologies from Rex Medical
PLANO, Texas, Jan. 5, 2016 /PRNewswire/ -- Argon Medical Devices, Inc. announced the completed acquisition of three vascular products from Rex Medical, LLC. The OptionELITE™ Retrievable Vena Cava Filter, CLEANER™ Rotational Thrombectomy System, and UltraStream™ Chronic Hemodialysis Catheter are now wholly owned by Argon Medical Devices, Inc. Prior to this transaction, the products were licensed and distributed by Argon through an exclusive agreement with Rex Medical. All three best-in-class product families have displayed significant growth under Argon's leadership. The addition of these safe and proven technologies to Argon Medical's portfolio firmly establishes the company's position as a market leader in the treatment of venous disease.
The acquisition includes all associated intellectual property related to these products, adding to a strong existing interventional portfolio which will enable Argon to further access existing markets in addition to penetrating new segments. "Acquiring these differentiated technologies uniquely positions Argon Medical Devices as a market leader in the minimally invasive vascular therapy category," said George A. Leondis, President of Argon Medical Devices. "Building on the momentum already established as a licensee of these products, we are further focusing our efforts on the venous disease space, providing safe and effective tools for venous therapy, and strengthening our growth in strategic global markets."
According to the U.S. Surgeon General, between 350,000 and 600,000 people each year in the United States are affected by blood clots and between 100,000 and 180,000 people die of pulmonary embolism each year.
The acquisition further enables Argon Medical Devices to offer customers comprehensive procedure-based solutions. The OptionELITE is the only IVC filter with FDA clearance for delivery via the popliteal vein, the same access site through which DVT treatment in the legs is commonly initiated. CLEANER is the only wall-contacting rotational thrombectomy system with FDA clearance for use in the peripheral vasculature, and also may be delivered via the popliteal vein to enable filter placement and DVT treatment through a single access site. This technique eliminates significant procedural time compared to other techniques and reduces patient trauma, giving Argon Medical Devices a competitive advantage in the growing DVT market. Commenting on the recent transaction, Rex Medical President, Lindsay L. Carter, "We are pleased that Argon Medical will continue in their leadership position delivering these established and tested technologies to the growing patient population undergoing treatment for venous disease."