The FFRangio System uses AI to give diagnostic and physiological data, which can challenge conventional FFR and change the treatment of coronary artery disease
The world headquarters of Medtronic, Fridley, Minnesota, USA. (Credit: Bobak Ha'Eri/Wikipedia)
Medtronic has signed a strategic partnership agreement with Israel-based CathWorks to improve the treatment of coronary artery disease (CAD).
Under the agreement, Medtronic will invest up to $75m and start co-promoting CathWorks’ FFRangio System in the US, Europe, and Japan, where it is available for sale.
Medtronic will have the option to purchase CathWorks via a separate agreement, in case certain milestones are achieved.
If Medtronic decides not to exercise its option, CathWorks will have the ability to compel Medtronic to buy the Israel-based company.
The expiration date of the acquisition option agreement is July 2027, with an acquisition cost estimate of up to $585m and the potential undisclosed earn-out payments upon closing of the acquisition.
Medtronic owns a minority stake in CathWorks since 2018.
Fractional flow reserve (FFR) is a diagnostic method that assesses the physiological effects of coronary artery stenosis, making it a crucial component of the decision-making process when managing CAD patients.
Unlike conventional FFR, the FFRangio System uses artificial intelligence (AI) and computational science to quickly and accurately calculate FFR readings from regular angiograms (X-rays), thus removing the need for invasive pressure wires and drug stimulation.
When compared to wire-based FFR, FFRangio has shown superior diagnostic performance, which is supported by strong clinical data.
The data from the Journal of the American College of Cardiology: Cardiovascular Interventions demonstrated that FFRangio has a 93% diagnostic accuracy rate, a 91% sensitivity rate, and a 94% specificity rate.
CathWorks president and chief executive officer Ramin Mousavi said: “CathWorks has been looking for the right partner to help us expand the reach of the FFRangio system globally.
“Medtronic not only brings the strength of its commercial team to CathWorks, but a reputation of investing and defining new opportunities to revolutionise care.
“I am excited about the possibilities ahead as we partner with Medtronic to expand the use of our technology to the US, Japan, and Europe.”