French contrast developer Guerbet has announced it will acquire Israeli company Accurate Medical Therapeutics, which specializes in the development of microcatheters used in interventional radiology.
Accurate has developed a range of microcatheters for embolization procedures of tumors and vascular aneurysms. The company's first product line was developed for optimizing the use of microcatheters for intra-arterial navigation, the firms said.
The company's second series of products possesses the same navigation qualities that incorporate antireflux technology, achieved by side holes located in the terminal part of the catheter, which create a fluid barrier preventing the reflux of embolization microspheres.
Under the terms of the agreement, Guerbet will acquire 100% of Accurate's capital share, with an initial payment of 19.5 million euros and additional payments spread over several years depending on the achievement of regulatory and commercial objectives. The total amount of the acquisition will not exceed 57 million euros. The transaction is expected to start generating sales by the end of this year and be accretive from the fourth quarter of 2019.
Accurate, founded in 2015, will retain its structure in Israel and will continue to be led by its inventor, co-founder, and CEO, Eran Miller, according to Guerbet.
