In a separate deal, Medtronic also has the option to acquire the Israel-based company for $585 million by January 2027, according to a July 12 press release.
The noninvasive product, FFRangio System, has a 93 percent accuracy rate in diagnoses and is currently available for use in the U.S., Europe and Japan.
“CathWorks has been looking for the right partner to help us expand the reach of the FFRangio system globally,” Ramin Mousavi, president and chief executive officer of CathWorks, said in the press release. “Medtronic not only brings the strength of its commercial team to CathWorks, but a reputation of investing and defining new opportunities to revolutionize care.”
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