GUERBET : Guerbet announces its acquisition of Accurate Medical Therapeutics, an innovative company that develops microcathet...
January 08 2018 - 11:49AM
Villepinte (France), January 8, 2018 (17:45 CET) - Guerbet (FR0000032526 GBT), a global specialist in
contrast agents and solutions for medical imaging, announced that
it has entered into an agreement under which it will acquire
Israeli company Accurate Medical Therapeutics ("Accurate"), which
specializes in the development of microcatheters used in
interventional radiology.
Accurate has developed a range of
microcatheters for embolization procedures of tumors and vascular
aneurysms. These products are currently being registered with the
US and European health authorities.
This range includes two series of
microcatheters:
-
The first series was designed and
developed to propose an optimization of microcatheters
intra-arterial navigation to interventional radiologists, even in
case of tortuous vascular network and hardly accessible
lesions.
-
The second series possess the same
optimized navigation qualities, while also incorporating unique
anti-reflux technology. This effect is achieved thanks to side
holes located in the terminal part of the catheter, which create a
fluid barrier preventing the reflux of embolization
microspheres.
This new technology makes it possible to
administer more embolization microspheres to the targeted treatment
area while also preventing them from refluxing upstream to arteries
irrigating healthy tissues (non-targeted areas that need to be
preserved).
http://bit.ly/2DaNLKk
Standard microcatheter, positioned in the artery irrigating the
tumor: the embolization microspheres travel not only downstream
(desired effect) but also upstream (undesired effect), in an artery
irrigating healthy tissues that need to be preserved.
http://bit.ly/2mfvCUj
Anti-reflux microcatheter: the anti-reflux technology sends all the
embolization microspheres downstream into the area to be treated.
The healthy tissue continues to be irrigated by blood free of
microspheres.
Interventional radiology covers
all the image-guided procedures which allow to diagnose and treat
patients in a minimally invasive way. The scope of procedures is
very large and includes, among the most wellknown, dilatation of
stenotic arteries, tumor ablations, replacement of cardiac valves,
vertebroplasty, etc. This market is several billion euros but is
difficult to globally evaluate because of its heterogeneity. The
segment that is mainly targeted today by Guerbet is arterial
embolization for tumors and aneurysms; it is valued at about 600
million euros. In this segment, the part of microcatheters is
around 120 million euros and is growing at an annual rate of 5% to
10%.
"This acquisition will fuel Guerbet's growth in
interventional radiology and will round out its current
portfolio. This new range of microcatheters
will allow us to help interventional radiology teams deliver a
higher quality of care during image-guided embolization
procedures" said Yves L'Epine, Guerbet's CEO.
"We are very
pleased with this agreement between Guerbet and Accurate. We are
confident that Guerbet has significant assets and resources that
will enable our range of microcatheters to become market leader, in
particular the microcatheters possessing the unique anti-reflux
technology. It allows to augment embolization of target area while
preventing damage to healthy tissues which must be preserved"
said Doctor Michael Tal, inventor and co-founder of Accurate.
Under this agreement, Guerbet will
acquire 100% of Accurate's capital share, with an initial payment
of 19.5 million euros and additional payments spread over several
years depending on the achievement of regulatory and commercial
objectives. The total amount of the acquisition will not exceed 57
million euros. The transaction is expected to start generating
sales by the end of this year and be accretive from the
4th quarter of
2019.
Accurate, founded in 2015, will
retain its structure in Israel and will continue to be led by its
inventor, co-founder and CEO Eran Miller.
Guerbet is a pioneer in the
contrast agent field, with more than 90 years' experience, and is a
leader in medical imaging worldwide. It offers a comprehensive
range of pharmaceutical products, medical devices and services for
diagnostic and interventional imaging, to improve treatment of
patients. With 7% of revenue dedicated to R&D and more than 200
R&D employees distributed amongst its three centers in France
and the United States, Guerbet is a substantial investor in
research and innovation. Guerbet (GBT) is listed on Euronext Paris
(segment B - mid caps) and generated €776 million in revenue in
2016. For more information about Guerbet, visit www.guerbet.com
Forward-looking
statements
This press release may contain
statements of a forward-looking nature, based on assumptions and
predictions made by the management of the Guerbet group. Various
known and unknown risks, uncertainties and other factors could lead
to marked differences between the future results, financial
situation, development and performances of the company, and the
estimates made here. These factors include those mentioned in the
public reports of Guerbet, available on its website
www.guerbet.com. The company assumes no responsibility whatsoever
in relation to the updating of these forward-looking statements, or
how they correspond to future events or developments.
Jean-François Le Martret
Chief Financial Officer
+33 (0) 1 45 91 50 00
jean-francois.lemartret@guerbet-group.com
Anne-Laure
Delasalle
Global Communications Director
+33 (0) 1 45 91 50 03
anne-laure.delasalle@guerbet-group.com
|
Christophe de Lylle/Benjamin
Lehari
+33 (0) 1 56 88 11 11
cdelylle@actifin.fr /
blehari@actifin.fr
Press
Jennifer Jullia
+33 (0) 1 56 88 11
19
jjullia@actifin.fr
|
Press Release
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of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: GUERBET via Globenewswire
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