BioVentrix announced today that it has acquired MateraCor, a company developing injectable alginate-based hydrogel to treat heart failure.
San Ramon, Calif.–based BioVentrix is a privately held medical device company focused on less invasive therapies to treat the left ventricle.
The financial terms of the deal were not disclosed.
“This is an exciting time for BioVentrix as we build a platform of synergistic therapies to treat a dilated left ventricle, the root cause of ischemic and idiopathic heart failure,” BioVentrix CEO Jim Dillon said in a news release.
Dillon added that buying MateraCor and its lead Trans-Catheter Myocardial Restoration (TCMR) product reinforces BioVentrix’s position to treat left ventricular heart failure with a variety of products and services.
Also today, BioVentrix announced the appointment of Steve Chartier, former VP of global clinical affairs at liver cancer therapies company Sirtex Medical, as the company’s new COO. In addition, Andrew Coats, the current president of the Heart Failure Association of the European Society of Cardiology, is joining BioVentrix’s board of directors.