Flow Forward merged with and into Artio in a stock-for-stock transaction
Artio Medical has acquired Flow Forward Medical, a medical device company, for an undisclosed amount, to expand its peripheral vascular portfolio.
Under the terms of the transaction, Flow Forward was merged into Artio, and the deal was approved by the Board of Directors and stockholders of both companies.
The stock-for-stock merger transaction was closed on 8 June 2020.
Artio Medical is a medical device company engaged in developing advanced endovascular products for the treatment of peripheral vascular, neurovascular, and structural heart diseases.
The company claimed that its products offer precision placement, immediate occlusion, and rapid sealing of arteries, veins, saccular aneurysms, and other blood-containing structures.
Artio Medical president and CEO F Nicholas Franano said: “Flow Forward’s venous dilation technology is highly complementary to Artio’s existing peripheral vascular portfolio, with significant overlap in physician call points and procedures.
“This acquisition provides a unique opportunity to diversify Artio’s endovascular pipeline, which will now include next generation vascular access solutions for kidney failure patients.”
Flow Forward develops Arteriovenous Fistula Eligibility System (AFE System)
Artio Medical said that patients suffering from end-stage renal disease require haemodialysis, and an arteriovenous fistula (AVF) is the preferred vascular access method for these patients.
However, a significant number of haemodialysis patients are not eligible to receive an AVF due to small vein diameters and inadequate blood flow.
Among the patients who are eligible, more than half of of AVFs would fail to mature without additional procedures, leading to abandonment of many of these sites before routine use.
Flow Forward is engaged in developing advanced methods for establishing and maintaining high-quality vascular access sites to improve outcomes for haemodialysis patients.
The company’s Arteriovenous Fistula Eligibility System (AFE System) is said to stimulate flow-mediated vein dilation to expand the initial vein diameter prior to the creation of an AVF.
The device has been designed to increase the number of haemodialysis patients eligible for AVF and to improve the usability and lifespan of newly created AVFs.
Flow Forward chief technology officer and general manager Paul Muller said: “Creating and maintaining reliable access sites is a complex vascular challenge, often resulting in complications, repeat procedures, and increased cost to patients, yet is critical for lifesaving hemodialysis treatment.
“We are very excited Artio recognizes the significant potential of our technology and we look forward to leveraging their expertise as we prepare for our first clinical use in the coming months and then move toward commercialisation.”