Medrad, a unit of Bayer Healthcare, is set to purchase Pathway Medical Technologies for $125m.
The deal also includes a bonus of $6.3m to retain certain members of Pathway’s senior management team, Xconomy reported.
Pathway is a maker of a device that clears out blood vessel blockages in the legs.
Pathway’s Jetstream uses a tiny stainless-steel drill mounted on a catheter that slides inside clogged leg arteries, where it cuts through and vacuums out hard plaque blockages and squishier clot-like substances.
The deal is still pending, awaiting final regulatory and shareholder approval.