Japan's Terumo Snaps Up SoCal's Sequent Med for $280 Million
Terumo Corp. (TYO:4543) said today it picked up Sequent Medical, developer of the Web aneurysm embolization device, for $280 million.
The Web implant is made of a Nitinol mesh that is delivered in a “stent-like” manner and deployed into the pouch formed by an aneurysm in order to prevent blood from flowing in. Sequent won CE Mark approval for the Web system in 2010, and is running an FDA-approved investigational device exemption pivotal trial as it seeks U.S. clearance.
The Web implant is made of a Nitinol mesh that is delivered in a “stent-like” manner and deployed into the pouch formed by an aneurysm in order to prevent blood from flowing in. Sequent won CE Mark approval for the Web system in 2010, and is running an FDA-approved investigational device exemption pivotal trial as it seeks U.S. clearance.