ATLANTA, March 10, 2015 (GLOBE NEWSWIRE) -- Brookhaven Medical, Inc., has announced the acquisition of FutureMatrix Interventional and CreatiVasc Medical, Inc., in a deal that further facilitates collaboration on a medical device aimed at reducing complications during dialysis treatment for the more than 400,000 dialysis patients in the United States.
"These are two premier medical device companies with great management and engineering teams," said Brookhaven Medical CEO John Feltman. "As a major investor in CreatiVasc's research and development since 2013, we are pleased to welcome CreatiVasc and FutureMatrix to the Brookhaven family. Medical advancements on the part of both companies support Brookhaven's mission of embracing innovation to improve clinical outcomes resulting in cost savings for the healthcare system."
FutureMatrix and CreatiVasc have collaborated for two years to develop an advanced balloon technology, key to the CreatiVasc Hemoaccess Valve System®. This device allows the flow of blood in an AV graft to be turned on and off between dialysis sessions.
"We believe this innovation will reduce or perhaps even eliminate the complications associated with clotting and infection that commonly occur in dialysis patients who have AV grafts," Feltman said.
According to a recent study in the New England Journal of Medicine, greater than 75 percent of patients with AV grafts must undergo an interventional surgical procedure within 12 months of implantation. Use of the Hemoaccess Valve System® stands to dramatically improve the quality of life for dialysis patients by largely eliminating these frequent interventional surgeries – effectively saving billions of dollars in associated healthcare costs, including those funded by Medicare.
"The Hemoaccess Valve System® has the potential to become the standard of care for dialysis graft implants, and we believe it may represent the most significant innovation in dialysis devices in more than 30 years," Feltman said.
CreatiVasc expects to begin expanded human clinical trials for the Hemoaccess Valve System® in Summer 2015, and the device is expected to enter the market late next year.
Brookhaven also announced that CreatiVasc CEO Steve Johnson will serve as President of Brookhaven Medical, Inc.
"We have a dedicated team leading Brookhaven and are optimistic about our future," Feltman said. "There are many exciting new products and customers in our pipeline, and we are evaluating several possible acquisitions as we move forward with our plans to build Brookhaven into a major diversified medical device company."
FutureMatrix Interventional is a leading multinational developer, manufacturer and marketer of innovative medical technologies in vascular, urology and surgical specialties. Founded in 1993, FMI employs 340 employees at its manufacturing facility in Athens, Texas.
Based in Greenville, South Carolina, CreatiVasc Medical, Inc., is an eight-year-old company that is currently developing a revolutionary Hemoaccess Valve System® for dialysis patients. CreatiVasc is one of only three companies in the United States chosen for inclusion in the U.S. Food and Drug Administration's (FDA) Innovation Pathway. The Innovation Pathway ultimately aims to shorten the overall time and cost for the development, assessment and review of major breakthrough medical technologies that hold the promise of improving patient care and generating significant savings for the healthcare system.
About Brookhaven Medical, Inc.
Brookhaven Medical, Inc., is based in Atlanta, Georgia, and is an emerging developer, manufacturer and marketer of innovative medical technologies and solutions. Brookhaven Chairman and CEO John Feltman is a serial entrepreneur and former investment banker who has two decades of experience creating and investing in a wide range of medical device companies.
Source:Brookhaven Medical, Inc.