Medtronic plans to acquire CathWorks, which makes tools to help detect coronary artery disease, the companies announced on Tuesday. Medtronic will pay up to $585 million, with the potential for undisclosed earn-out payments after the acquisition closes.
The companies have worked together since 2022, when Medtronic agreed to co-promote CathWorks’ FFRangio System in the U.S., Europe and Japan.
The FFRangio System uses artificial intelligence and computational science to provide an assessment of the entire coronary tree using routine angiograms, a type of X-ray for imaging blood vessels. The system can provide fractional flow reserve, or FFR, values that help detect what lesions are causing a reduction in blood flow. The system can also help physicians measure the dimensions of a lesion during an operation.
CathWorks’ device supports appropriate revascularization for patients who need it, while avoiding unnecessary procedures in those who do not, the companies said. They added that the device demonstrates solid accuracy and outcomes compared to traditional wire-based FFR systems.
“This acquisition allows Medtronic to transform the cath lab with a technology that provides real-time data, informs individualized treatment approaches, and drives new standards of care,” Jason Weidman, president of Medtronic’s coronary and renal denervation business, said in the announcement.
The acquisition is expected to close by the end of Medtronic’s 2026 fiscal year, which ends in April. It is subject to regulatory approvals and other closing conditions, including clearance from the Federal Trade Commission. Medtronic expects the deal will be immaterial to its fiscal 2027 earnings per share and neutral to accretive in the following years.
