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Guerbet to buy Accurate Medical Therapeutics for over €19.5 million
Demonstration of Accurate's anti-reflux microcatheters
Guerbet announced on Monday that it acquired Accurate Medical Therapeutics for an initial payment of EUR 19.5 million.
Additional payments will be made over the next few years depending on the achievement of regulatory and commercial milestones. The total amount will not surpass EUR 57 million.
Accurate has developed a portfolio of microcatheters for image-guided embolization procedures to treat tumors and vascular aneurysms. The products are currently being registered with the U.S. and European health authorities.
"This new range of microcatheters will allow us to help interventional radiology teams deliver a higher quality of care during image-guided embolization procedures," Yves L’Epine, CEO of the Guerbet, told HCB News.
The portfolio comprises two types of microcatheters. One was designed to improve intra-arterial navigation for interventional radiologists, even in the case of lesions that are difficult to access.
The other has the same navigation capabilities, as well as an anti-reflux technology. Side holes were placed in the terminal part of the catheter to create a fluid barrier that prevents the reflux of embolization microspheres.
That technology allows the interventional radiologist to deliver embolization microspheres to the targeted treatment area, while stopping them from refluxing upstream to arteries that irrigate healthy tissues.
Guerbet, which specializes in contrast agents and solutions for medical imaging, purchased Accurate to deepen its stake in the interventional radiology market and "round out its current portfolio," according to L'Epine.
"We want to leverage our expertise in interventional imaging built around the unique position of Lipiodol, standard of care for transarterial chemoembolization of liver cancers," he added.
The arterial embolization for tumors and aneurysms segment of the interventional radiology market is worth about EUR 600 million, according to Guerbet. The microcatheter portion of this segment accounts for EUR 120 million, and is growing at an annual rate of 5 to 10 percent.
The company is expected to start generating sales from this deal by the end of this year and be accretive from the fourth quarter of 2019.
