China-based transcatheter heart valve company Venus Medtech (Hangzhou) has completed its merger with medical device company Keystone Heart.
The merger is based on an agreement reached between the companies in September this year on the acquisition of Keystone Heart by Venus Medtech.
It allowed Venus Medtech to gain international rights of TriGUARD 3, a cerebral embolic protection device developed by Keystone Heart for providing complete coverage to all brain regions for patients undergoing cardiac procedures.
In addition, the merger has enabled Venus Medtech to expand its business to the US and Europe.
Venus Medtech co-founder and CEO Eric Zi said: “It is of utmost importance to us that our devices improve the quality life of the patients whom receive them.
“Our transcatheter heart valve systems offer patients life-saving support – acquiring Keystone Heart allows us the opportunity not only to reduce the risk of brain injury during cardiac procedures but establishes our presence in the US and Europe through which we can introduce our entire portfolio of products.
“We will be the first to bring the significant and extensive benefits of combining embolic protection devices together with our Venus TAVR products for Chinese’s patients.”
Venus’ existing transcatheter aortic valve is the first transcatheter aortic valve replacement (TAVR) technology approved by China Food and Drug Administration (CFDA).
Keystone Heart president and CEO Chris Richardson said: “Providing brain protection for every TAVR patient will differentiate Venus Medtech and position them as a leader in structural heart therapies – underscoring its dedication to excellence, determination to provide a total solution for patients undergoing TAVR procedures and focus on patient safety.
“This partnership provides us the unique opportunity to improve the lives of patients undergoing structural heart procedures with cerebral embolic protection and the ability of bringing new cutting-edge therapies into the US & Europe.”
Keystone Heart is primarily involved in developing solutions that can protect the brain from embolic debris to lower the risk of brain infarcts during TAVR, surgical valve replacement and other structural heart procedures.