Monday Moves in Medtech [1/14/13]: Covidien Completes Acquisition, Promotions at AtriCure
By Jamie Hartford
Published: January 14, 2013

In this week's news, Covidien completes its acquisition of CV Ingenuity, and AtriCure announces three executive promotions. 

Mergers and Acquisitions

Covidien (Dublin, Ireland) completed its acquisition of CV Ingenuity (Fremont, CA), which is developing a drug-coated balloon platform. The company joins Covidien’s vascular product line. (Press Release) 

IP licensing and commercialization firm Hanover Portfolio Acquisitions (Los Angeles) will acquire a majority stake in Pulsed Energy Technologies. The acquisition includes all of Pulsed Energy’s IP, assets, and accounts receivables. Pulsed Energy manufactures the Pulsed Energy Replenisher, a device used for pain reduction. (Marketwire) 

Executive Moves

AtriCure, a maker of cardiac ablation systems, has made several executive promotions. Douglas J. Seith has been bumped up to senior vice president of sales and marketing, Michael Rogge is the company’s new vice president of marketing, and M. Andrew Wade has been promoted to vice president and chief financial officer. (Press Release)

Vicki Bebeau, formerly the senior clinical director for St. Jude Medical’s cardiovascular and international divisions, has joined Velomedix (Menlo Park, CA) as vice president of clinical affairs. Velomedix is a venture-backed medical device company developing products in the area of therapeutic hypothermia. (Market Watch)

JenaValve Technology (Wilmington, DE), a maker of transcatheter aortic valve implantation systems, has brought Raymond W. Cohen, former CEO of Vessix Vascular, on board as executive chairman of its board of directors. (Bloomberg Businessweek)  

Funding

Orthopedic manufacturer AxioMed Spine Corp. (Garfield Heights, OH) secured $3.6 million in funding from current and new investors in a new financing round. The company’s Freedom Lumbar and Cervical Discs are on the market in the EU and are awaiting FDA approval in the United States. (Business Wire)

ArthroCAD Inc. (Ayer, MA), a maker of products to improve the outcomes of joint replacement surgeries, has completed a Series A financing round. The funds will be used to develop the company’s total hip arthroplasty product. Investor Edgar D. Janotta Jr. has joined ArthroCAD’s board of directors as part of the financing. (Business Wire)  

Have news about a medtech move? E-mail us the details.

—Jamie Hartford is MD+DI's managing editor.

 

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