Abbott Completes Acquisition of Topera, Inc.
News Jan 06, 2015
Abbott has announced that it has completed its acquisition of Topera, Inc., a private, venture-backed medical device company focused on developing innovative electrophysiology technologies to improve the diagnosis and treatment of atrial fibrillation, one of the most common heart rhythm disorders in the world.
Catheter-based electrophysiology is an approximately $3 billion global market that has been growing annually at double-digit rates.
Topera has developed a novel diagnostic catheter and mapping software, or rotor identification system, which helps physicians identify and target patient-specific rotors that have been shown to be the sustaining mechanism for atrial fibrillation.
The ability to locate these rotors enables the physician to individualize patient treatment through a procedure referred to as Focal Impulse and Rotor Mapping guided ablation, or FIRM-guided ablation.
Topera's rotor identification system has been shown, when used with existing catheter ablation therapy, to result in positive long-term success rates, even in difficult-to-treat cases.
"The Topera acquisition gives Abbott a foundational entry in the large, high-growth electrophysiology market with breakthrough technologies that can transform how physicians treat people with complex heart rhythm disorders," said John M. Capek, Ph.D., executive vice president, Medical Devices, Abbott. "The ability to more accurately target the areas of the heart perpetuating atrial fibrillation is a significant advancement in the field of electrophysiology and can transform patient care."
Under the terms of the acquisition, Abbott acquired all outstanding equity of Topera for $250 million upfront, plus potential future payments tied to performance milestones.