Bayer HealthCare announces Pathway Medical Technologies takeover

Bayer HealthCare has agreed a deal to purchase Pathway Medical Technologies, a specialist in mechanical atherectomy innovations for the field of vascular intervention.

The company's affiliate Medrad will take control of the Washington-based business, which offers medical devices that clear out blockages in the leg caused by peripheral arterial disease.

Among its products are the Jetstream range, which utilise a minimally invasive procedure designed to restore circulation and remove plaque without harming any healthy tissue.

These offerings will complement Medrad's existing portfolio, which includes injectors, thrombectomy devices and the Cotavance paclitaxel-coated balloon catheter.

Dr Jorg Reinhardt, chairman of the board of management of Bayer HealthCare, said: "The combination of Medrad and Pathway Medical Technologies underscores our strategic commitment to the treatment of patients in the growing interventional field."

According to Bayer's most recent financial report, the organisation's sales saw a 5.4 percent year-on-year increase in the second quarter of 2011.