Medtronic, Inc. (NYSE:MDT) announced that it has completed an equity
investment in MindGuard Ltd., a privately held developer of devices
for high-risk stroke patients. As part of the agreement, Medtronic
will secure European distribution rights for MindGuard's
Divertersystem. The size of the investment was not disclosed.
MindGuard, based in Caesarea, Israel, has developed The Diverter
System, an implantable system intended to be deployed in the carotid
arterial bifurcation - the main bifurcation point for blood flow to
the brain from the heart. There it serves to divert cardioemboli
(plaque-like debris) in the arterial system away from the brain.
Without this potential diversion therapy, cardioemboli can flow to
the brain, creating blockages that may lead to ischemic stroke.
"We are pleased to initiate this relationship with MindGuard in order
to help bring to market this technology for potential stroke
victims," said Bill Hawkins, president of Medtronic Vascular. "The
Diverter System offers a minimally-invasive and preventative therapy
option to physicians treating high-risk stroke patients. This
agreement serves to further expand Medtronic Vascular's expertise
intothe area of stroke prevention."
MindGuard Ltd. is an Israeli company, founded in 2000 focused on
developing and marketing a portfolio of unique catheter and implant
technologies to treat and prevent stroke, and other cardiovascular
and cerebrovascular diseases.
Medtronic, Inc., headquartered in Minneapolis, is the world's leading
medical technology company, providing lifelong solutions for people
with chronic disease.