M&A is still a thing during the COVID-19 Pandemic. Advanced stroke imaging firm, RapidAI is acquiring EndoVantage, developer of the Find, Track, and Treat comprehensive cerebral aneurysm management platform.
Menlo Park, CA-based RapidAI said this acquisition can help it expand its scope, from ischemic stroke to hemorrhagic stroke and now aneurysm.
EndoVantage was started at Mayo Clinic and Arizona State University has developed a powerful award-winning computational platform that provides comprehensive cerebral aneurysm management, automating the entire workflow from initial assessment, growth monitoring, to treatment planning.
It uses CTA and MRA scans to deliver results that help physicians find and track aneurysm progression, and leverages data from 3D rotational angiograms to deliver detailed 3D models of a patient’s vasculature and allow presurgical planning for the repair of the aneurysm.
“By adding the incredible technology developed by EndoVantage to the Rapid platform, we strengthen our position as the global leader in cerebrovascular imaging,” said Don Listwin, CEO of RapidAI, said in a release. “We can offer hospitals a complete portfolio of products—encompassing ischemic stroke, hemorrhagic stroke, and aneurysm—providing an end-to-end solution that will drive better patient outcomes across the spectrum of cerebrovascular disorders.”
The M&A scene has been shaky in medtech since the pandemic struck. In April, Alphatec announced it was pulling out of its agreement to acquire EOS Imaging because of negative impacts on the market caused by COVID-19.
The surgical spine specialist announced in late February that it would pick up EOS Imaging for $88 million, plus debt retirement for $33.9 million, in a combination of cash and equity.
Organovo Holdings also terminated its merger agreement with Tarveda Therapeutics. The San Diego, CA-based company originally submitted the proposal to merge with Tarveda Therapeutics late last year.