AngioScore Inc. Acquired by Spectranetics
The Spectranetics Corporation (NASDAQ: SPNC) announced on June 30, 2014, that it has completed the acquisition of AngioScore Inc., a leading developer, manufacturer and marketer of cardiovascular, specialty balloons, for $230 million in cash, along with additional contingent commercial and regulatory milestone payments.
“We are very excited to complete this important transaction,” said Scott Drake, President and CEO of Spectranetics. “AngioScore meets our criteria with an exceptional strategic fit, leverageable call points, differentiated technology and clear operating efficiencies. With AngioScore now a part of our company, we have a meaningfully expanded market opportunity and a compelling product portfolio.
AngioScore, based in Fremont, Calif., develops and markets the AngioSculpt scoring balloon technology platform, which is a differentiated, comprehensive portfolio to treat blockages in the coronary and peripheral vasculature. AngioScore’s product and distribution platforms diversify Spectranetics’ portfolio while expanding physicians’ options to treat critical limb ischemia (CLI), in-stent restenosis (ISR), calcified lesions and chronic total occlusions (CTO).