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MEDTRONIC ACQUIRES ASSETS FOR CONTEGRA™ PRODUCT LINE FROM VENPRO CORPORATION Addition Marks First Medtronic Heart Valve Product Primarily for Children |
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MEDTRONIC ACQUIRES ASSETS FOR CONTEGRA™ PRODUCT LINEFROM VENPRO CORPORATIONAddition Marks First Medtronic Heart Valve Product Primarily for Children
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| In a move to further broaden its extensive portfolio of heart valve products, Medtronic, Inc. (NYSE: MDT) today announced that it has acquired the assets for the Contegra™ Pulmonary Valved Conduit product line from VenPro Corporation of Irvine, Calif. Medtronic has distributed the product in Europe since it received CE Mark approval in late 1999. Financial terms were not disclosed. The pulmonary valved conduit, developed by VenPro, will be the first product in Medtronic’s heart valve portfolio intended primarily for use in children. It is designed to satisfy the need for a more readily available conduit to correct congenital defects on the right side of the heart, namely an absent or underdeveloped pulmonary valve. Homografts (human valves), often used by pediatric cardiovascular surgeons for this type of reconstruction, are limited by the availability of donated human organs, particularly in small sizes. The Contegra conduit is composed of a glutaraldehyde-fixed xenograft jugular vein segment that contains a natural, integral valve. It combines many features of a homograft with the convenience of an off-the-shelf product in a range of sizes suitable for newborns and children. The Contegra is currently an investigational device in the U.S. and is not available for commercial distribution. “The addition of Contegra to our portfolio of heart valve products reinforces our commitment to deliver a full line of ‘best-in-class’ surgical solutions for heart valve disease in patients of all ages,” said Bob Guezuraga, president of Medtronic Cardiac Surgery. “This product clearly addresses an unmet medical need – combined with its performance, we believe that the Contegra is well-positioned to become a more widely-considered option for the youngest of patients.” Commenting on his long-term laboratory and recent clinical experience with the Contegra, John W. Brown, M.D., Chief of Cardiothoracic Surgery at the Indiana University School of Medicine and one of the leading pediatric cardiac surgeons participating in the U.S. clinical trials, notes that “prior to Contegra, the availability of pulmonary valved conduits were a ‘weak link’ in the surgical treatment of complex congenital heart disease. This was due to the scarcity of homograft conduits, surgical handling problems and the lack of post-operative competence and durability. Contegra offers a solution for many of these challenges.” VenPro Corporation is an early stage company focusing on the development of bioprosthetic implants for the treatment of venous disease. Its Internet address is http://www.venpro.com. Medtronic, Inc., headquartered in Minneapolis, is the world’s leading medical technology company, providing lifelong solutions for people with chronic disease. Its Internet address is http://www.medtronic.com.
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Source:
Medtronic
www.medtronic.com
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