Ireland-based Covidien has acquired privately held medical device company Reverse Medical, for an undisclosed amount.
Covidien noted that Reverse Medical focuses on solution for the management of vascular disease.
Covidien neurovasculapresident Brett Wall said that the company is focused on technologies, which deliver improved patient care through clinically relevant and economically valuable solutions.
"The acquisition of Reverse Medical is complementary to our existing portfolio and will allow us to leverage existing vascular technologies to compete in the worldwide vascular embolization market, which is growing at a double digit rate," Wall added.
Covidien will integrate Reverse Medical business in its neurovascular product line in the medical devices segment.
Currently, Reverse Medical is commercializing its vascular embolization plugs, MVP Micro Vascular Plug System and UNO Neurovascular Embolization System.
According to Covidien, MVP and UNO are self-expanding vessel occlusion devices that close blood vessels for vascular embolization.
Reverse Medical also produces products such as ReVerse Microcatheter for device delivery and Barrel Vascular Reconstruction Device (VRD), a self-expandable bifurcation aneurysm bridging device.
All the devices, which have secured CE Mark approval, are commercially available in Europe.
In addition, MVP-3 and MVP-5 have received 510(k) approval in the US.
Covidien, which reported $10.2bn revenue in 2013, operates in 150 countries.
Image: Reverse MedicalCovidien has acquired Reverse Medical that focuses on expanding the management of vascular disease. Photo: courtesy of Patho.