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PR Newswire·

Medtronic Announces Strategic Investment in Pi-Cardia to Accelerate Innovation for Complex TAVR

  • Medtronic announced a strategic investment in Pi-Cardia Ltd. to address complex transcatheter aortic valve replacement (TAVR) procedures.
  • The agreement includes potential investments of up to $80 million & an option for Medtronic to acquire Pi-Cardia for up to $210 million plus earn-out payments upon meeting milestones.
  • Medtronic is scheduled to become the exclusive global commercial distributor of Pi-Cardia's ShortCut™ device in 2027.
  • The ShortCut™ device is the first FDA-cleared leaflet modification technology designed to enable valve-in-valve TAVR procedures while preserving coronary access.
  • Clinical trials demonstrated successful leaflet splitting in all pivotal patients & a favorable safety profile for the ShortCut™ device.
  • The partnership aims to expand physician access to the device across the United States, Europe, Japan, & other international markets.
  • The transaction is subject to regulatory approval & customary closing conditions.