Philips touts 2-year data for Tack endovascular system

[Image from Philips]Royal Philips (NYSE:PHG) today announced positive two-year results from a clinical trial of the Tack endovascular system.

Amsterdam-based Philips presented data from the Tack Optimized Balloon Angioplasty (TOBA) II below-the-knee (BTK) clinical trial at the 2021 New Cardiovascular Horizons Conference, according to a news release.

Data presented by co-principal investigator Dr. George Adams, an interventional cardiologist at Rex Hospital (University of North Carolina, Chapel Hill) demonstrated a sustained treatment effect and a positive impact on quality of life for patients with peripheral artery disease (PAD) and critical limb ischemia (CLI) treated with the Tack dissection repair device, which Philips acquired when it bought Intact Vascular for $275 million in August 2020.

Tack, a specialized, implantable device designed to optimize the treatment of dissections in patients with PAD and CLI, provided 73.6% of patients freedom from clini…

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MedTech 100 roundup: Industry reaches new heights again

The past month has seen a resurgence from medtech companies in the markets and last week saw the best performance yet.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 90.78 points at the end of last week (Aug. 28). Overall, medtech stocks saw a 1.3% increase from the 89.6-point total at the same time a week prior (Aug. 21).

While 90.78 points is already the highest total on which the index has ended a week during the COVID-19 pandemic, just the day before, the index hit 91 points even, marking the highest point total since the pandemic took its toll.

The most recent high mark represents just a -1.4% dip from the Feb. 19 high point of 92.32, while the tally at the end of the week marks a -1.7% decrease from that pre-pandemic high.

Meanwhile, the S&P 500 Index saw a 3.3% increase from Aug. 14 to Aug. 21, having steadily climbed since reaching record highs on Aug. 18. Meanwhile, the …

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Philips to acquire Intact Vascular for $275M

Royal Philips (NYSE:PHG) announced today that it agreed to acquire Intact Vascular in a deal worth approximately $275 million upfront.

Wayne, Pa.-based Intact Vascular makes the Tack specialized implantable device for treating peripheral artery disease (PAD). The Tack endovascular system reinforces standard and drug-coated balloon PAD treatment results as a first-of-its-kind, minimal-metal, dissection repair device for treating peripheral arterial dissections after balloon angioplasty in above-the-knee and below-the-knee interventions.

Tack leaves less metal behind when compared to stents, preserving future treatment options and limbs while also offering a solution for repairing dissections and optimizing post-angioplasty outcomes, according to a news release.

Philips’ acquisition is worth the $275 million upfront with deferred payments for which the company expects to recognize a provision of $85 million upon the completion of the transaction. Int…

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