superDimension: Navigating Interventional Pulmonology
Ever since the transformative success of interventional cardiology, the emergence of new interventional subspecialties seems to come at ever quicker paces. One of the latest clinical spaces to embrace the interventional revolution is pulmonology, which over the past couple of years has seen a host of new procedures and devices transforming traditional procedures. Indeed, the pace at which interventional cardiology evolved now seems almost leisurely compared with that at which interventional pulmonology companies are now moving. Thus, many of the companies in the space face an interesting dilemma: how to establish a foundation in this new specialty and, at the same time, how to refine that technology to keep pace with the field as it grows. That's the challenge facing superDimension, whose executives believe they own not just the road map, but the road itself.
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Brief summaries of recent medtech market and industry developments. This month we cover Covidien’s continuing buying spree, and other medtech M&A.
Since its spin-out from Tyco, Covidien has spent close to $5 billion acquiring public and privately held device companies, with more than $1 billion of that being spent just over the past six months. The string of purchases bulked up every one of Covidien’s existing medical device businesses. In the recent acquisition of superDimension, Covidien paid $300 million plus earn-outs for the maker of the iLogic system, which uses electromagnetic navigation bronchoscopy technology. The purchase means Covidien’s sales force will begin calling more on interventional pulmonologists, potentially creating an exit route for other pulmonary start-ups.
Acquired iLogic system includes planning and navigation software that generates three-dimensional images using patient CT scans, and disposable catheter-based tools for navigation and biopsy.