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Dextera Surgical Inc., a company developing and commercializing the MicroCutter 5/80™ Stapler, today announced that it had obtained approval by the Bankruptcy Court for the sale of substantially all of Dextera Surgical’s assets to Aesculap, Inc., a B. Braun company. The transaction is expected to be completed by February 20, 2018.
“We are pleased to see our innovative MicroCutter 5/80 Stapler, PAS-Port® and C-Port® automated anastomosis system cardiac surgery products and technology portfolio transitioning into the very capable hands of the team at Aesculap, Inc. to provide a path for these products to remain in the hands of surgeons and be supported around the globe,” said Julian Nikolchev, president and CEO of Dextera Surgical. “We are working with the Aesculap, Inc. team to transition the manufacturing and worldwide marketing and support of the MicroCutter 5/80, PAS-Port Proximal and C-Port Distal Anastomosis Systems.”
Mr. Nikolchev continued, “While there may be some temporary disruption in the ordering process during the transition period, we will work to ensure that these products remain available to the surgeons who depend on them for less invasive surgical procedures.” It is the intent of Aesculap, Inc. to continue the manufacturing and distribution of Dextera’s products.
In December 2017, Dextera announced that it filed a voluntary Chapter 11 petition in the United States Bankruptcy Court for the District of Delaware. Additional information about this process and proposed asset sale, as well as court filings and other documents related to the reorganization proceedings, is available through Dextera’s claims agent.
Dextera Surgical has retained Cooley LLP as special corporate counsel, Saul Ewing Arnstein & Lehr LLP as its bankruptcy counsel and JMP Securities as its financial advisor.
About Aesculap, Inc.
Aesculap, Inc., a B. Braun company, is part of a 180-year-old global organization focused on meeting the needs of an ever-changing healthcare community. Through close collaboration with its customers, Aesculap provides advanced technologies for general surgery, neurosurgery and closure technologies. Aesculap continues a proud heritage of leadership and responsiveness as we strive to deliver products and services that improve the quality of patients’ lives.
About Dextera Surgical
Dextera Surgical designs and manufactures proprietary stapling devices for minimally invasive surgical procedures. In the U.S., surgical staplers are routinely used in more than one million minimally invasive laparoscopic, video-assisted or robotic-assisted surgical procedures annually.
Dextera Surgical also markets the only automated anastomosis devices for coronary artery bypass graft (CABG) surgery on the market today: the C-Port® Distal Anastomosis Systems and PAS-Port® Proximal Anastomosis System. These products, sold by Dextera Surgical under the Cardica brand name, have demonstrated long-term reliable clinical performance for more than a decade.
REDWOOD CITY, Calif. –(Business Wire)–http://www.digitaljournal.com/pr/3645931
For Further Information
More on the cardiac surgery and heart valve devices market in the US can be found in a series of reports published by iData entitled the US Market Report Suite for Cardiac Surgery and Heart Valve Devices. This report covers the following market segments: tissue heart valves, mechanical heart valves, annuloplasty repair devices, transcatheter mitral valve repair (TMVR) devices, transcatheter heart valve replacement (THVR) devices, on-pump coronary artery bypass (ONCAB) devices, off-pump coronary artery bypass (OPCAB) devices, endoscopic vessel harvesting (EVH) devices, anastomosis assist devices (AADs), transmyocardial revascularization (TMR) devices, ventricular assist devices (VADs), intra-aortic balloon pumps, temporary artificial heart replacement devices, extracorporeal membrane oxygenation (ECMO), remote hemodynamic monitoring, patent foramen ovale (PFO), atrial septal defect (ASD) devices, ventricular septal defect (VSD) devices and left atrial appendage (LAA) devices.
Reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players’ success strategies in each market and segment. To find out more about cardiac surgery market data or procedure data, register online or email us at [email protected] for a US Market Report Suite for Cardiac Surgery and Heart Valve Devices brochure and synopsis.