Argon Medical Devices Snaps Up 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."
About Argon Medical Devices
Founded in 1972, Argon Medical Devices, Inc. manufactures medical products and devices for interventional radiology, vascular surgery, interventional cardiology, critical care, and oncology procedures worldwide. Through a network of direct sales representatives and premier distributors, Argon supplies physician customers with breakthrough technologies to improve clinical efficiency and outcomes. Argon is a privately held portfolio company of Roundtable Healthcare Partners.
The Argon product portfolio is highlighted by the OptionELITE retrievable IVC Filter, Cleaner and Cleaner15 Rotational Thrombectomy Systems, BioPince Full-core Biopsy Instrument, TLAB Transjugular Liver Biopsy Instrument, Atrieve Vascular Snare, Skater Drainage Systems, T-Lok Bone Marrow Biopsy Needles and UltraStream Chronic Dialysis Catheters.
About RoundTable Healthcare Partners
RoundTable Healthcare Partners, Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare industry. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. RoundTable has established a successful track record of working with owner/founders, family companies, management teams, entrepreneurs, and corporate partners who share a vision and believe in the value creation potential of its partnership model. RoundTable has raised $2.75 billion in committed capital, including four equity funds totaling $2.15 billion and three-subordinated debt funds totaling $600 million.
About Rex Medical, LP
Rex Medical, LP, based in Conshohocken, PA, is a privately held medical device company specializing in the development, manufacturing and marketing of minimally invasive medical devices targeted towards the cardiovascular, venous access, endosurgery and oncology markets. Rex Medical is ISO 13485 certified.
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SOURCE Argon Medical Devices, Inc.
