Millimed's Play in Interventional Neurology
Ten years ago, a group of executives launched Jomed with the thought of challenging the large cardiovascular device companies as a global player. Jomed never quite achieved that goal--though it came close. Now, with an innovative NO-loaded balloon, some former Jomed executives hope to do in interventional neurology what they tried to do in interventional cardiology.
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Any concerns about coronary stents and their safety have, obviously, long been put to rest. But one concern still lingers in the minds of some: why use a permanent device to do a temporary job? Phrased differently, how much better would it be to have a stent that, upon completing the remodeling job to keep the arteries open, simply disappeared? That's the promise of bioabsorbable stents. And one company, Berlin-based Biotronik GMBH & Co., hopes to capitalize on that promise.
Former Jomed CEO Tor Peters is back, trying to build another major device company, this time in interventional neurology and modeled after the strategy he used at Jomed.
Over the past several years, Swiss Jomed has been one of the few small European stent companies to grow into a major cardiovascular device company. Last year's successful IPO was testimony to the company's strong sales growth. But it was two deals the company did following soon after the IPO, the acquisitions of US-based MediDyne and EndoSonics, that will test whether Jomed is ready to break out of the pack and compete on a truly global scale with medical device giants such as Guidant and Medtronic.