Medtronic Takes Aim At Implantable Device Infections with TYRX Buy
This article was originally published in The Gray Sheet
The $160 million cash acquisition fits with the firm’s efforts to fashion itself into a health care services and solutions company, rather than pure device firm. TYRX makes anti-bacterial envelopes for implanted devices, and has FDA clearances with cardiac implantable electronic devices and spinal cord neurostimulators.
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The device giant is buying RF Surgical Systems, which makes a radiofrequency-based technology to help prevent surgical sponges from being retained in a patient after a procedure. Sponge retention is a non-reimbursable "never event" under Medicare, driving hospital interest in solutions to reduce the occurrence.
The 7,000-patient WRAP-IT study will measure the clinical and cost benefits of employing the Tyrx antibacterial envelope, acquired by Medtronic last year, to reduce infections following cardiac rhythm management device implant procedures. Medtronic hopes to leverage new incentives for hospitals to cut infection rates.
The company says its envelope used to cover cardiac devices during surgery has proven to be highly effective in reducing infections based on a study of over 1,000 patients in the U.S.