Medtronic today announced that it’s exercising its option to acquire Irvine-based medical device maker CathWorks at a valuation of $585 million.
“We are thrilled to have CathWorks officially become part of the Medtronic family,” CathWorks Chief Executive Ramin Mousavi said in a statement.
The two companies first entered an agreement in 2022 to co-promote CathWorks’ FFRangio System in the U.S., Europe and Japan.
The deal is expected to close by the end of Medtronic’s 2026 fiscal year, and is subject to clearance from the U.S. Federal Trade Commission.
For more information, see the Feb. 9 print issue of the Business Journal.
