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#Industry News

Baxter Sells Ultrafiltration Line for More Than $4 Million

Officials at the buyer, Sunshine Heart, says the Aquadex product line represents an important strategic investment.

Sunshine Heart (Eden Prarie, MN) is spending $4 million in cash, and providing 1 million shares of common stock, to acquire the Aquadex line of ultrafiltration devices from an indirect subsidiary of Baxter.

Aquadex, which Baxter itself acquired through its 2013 purchase of Gambro AB, provides ultrafiltration for the removal of salt and water in patients with fluid overload. The system has been touted as more portable and smaller compared to renal replacement devices for ultrafiltration. It includes a console, a disposable circuit, and and disposable venous catheter. It is indicated for providing up to eight hours of ultrafiltration for people who have failed diuretic therapy, and can be used for an even longer periods for those who also require hospitalization.

“Aquadex is an important strategic investment, which allows Sunshine Heart to strengthen our presence in the heart failure market,” John Erb, Sunshine’s chairman and CEO, said in a news release.

“We believe Aquadex is a valuable and highly complementary technology to our expanding heart failure product portfolio. There is a real need for fluid management in patients both before and following any kind of heart failure procedure. Aquadex is used to treat fluid overload in congestive heart failure patients and can help reduce the length of stay while in the hospital and the number of hospital visits in total,” Erb said.

On top of the deal, Sunshine Heart also paid off its existing debt facility with Silicon Valley Bank, entering into a new $5 million facility to pay for working capital needs in the future.

Sunshine Heart has been focused on developing a portfolio of products to treat heart failure.

“This strategic acquisition will allow Sunshine Heart to further drive important advancements to heart failure treatment,” said Ben Johnson, Managing Director of Silicon Valley Bank. “We’re excited to provide the financing to support the company as it matures to the next phase of development.”

Details

  • United States
  • Chris Newmarker