Teleflex has announced it has acquired Hotspur Technologies, according to a news release.
Hotspur Technologies, which is based in Mountain View, Calif., is a developer of catheter-based technologies aimed at restoring blood flow for patients with obstructed vessels. Hotspur developed the VisioValve injection system, which is the basis for a portfolio of FDA-cleared multi-function catheters.
Under the terms of the agreement, Teleflex has acquired the company for an upfront payment of $15 million. Teleflex may be required to make additional payments based upon the achievement of certain regulatory and revenue milestones over the next several years.
"With this acquisition, Teleflex broadens and strengthens its product portfolio that addresses the estimated $1 billion market opportunity for dialysis access and peripheral percutaneous transluminal angioplasty balloons worldwide," said Benson Smith, chairman, president and CEO of Teleflex, in the release. "We believe the multi-function catheters based on the proprietary VisioValve technology are the most innovative in the PTA balloon market and provide clear advantages over current treatment options."
The GPSCath balloon dilatation catheter, the IQCath balloon dilatation catheter and the Keeper embolectomy catheter are based on the use of the VisioValve technology.
Teleflex is headquartered in Limerick, Pa.
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