With the acquisition SMT has entered into structural heart segment
Sahajanand Medical Technologies (SMT) announced its entry into the structural heart segment with an acquisition of medical device firm Vascular Concepts. The acquisition got completed on May 27. Even after acquisition, Vascular Concept will retain its distinct brand and independence. Swaminathan Jayaraman, CEO, Vascular Concepts will continue to manage the operation of the company.
Vascular Concepts Group comprises of two entities, based in India and Thailand. This medical device firm has more than 200 employees, two manufacturing setups and two research and development centres.
Vascular Concepts has developed and launched the Hydra transcatheter aortic valve system, which received Indian regulatory approval in 2020. It is used for the treatment of high-risk patients suffering from severe and symptomatic aortic valve stenosis. The Hydra TAVI system is a self-expanding supra-annular transcatheter aortic valve, which presents unique design features and similar event rates compared to contemporary devices in separate clinical studies conducted in India and Europe. The TAVI market is growing at about 20% worldwide, Europe and the US being the main markets to date.
Speaking about the combined operational strength and new entry; Dhirajlal Kotadia Chairman, Sahajanand Group, said, “Structural heart segment is a fast-growing segment in cardiovascular industry. We strongly believe that SMT will play a major role within this segment and provide solutions to benefit patients and its wide customer base. Acquisition of Vascular Concepts Group reflects our commitment to become a leader in TAVI and structural heart technologies. TAVI is an innovative solution and will help carry forward our motto of –‘Pledged to save millions’.”
Commenting on the acquisition, Jayaraman added that, “We are excited to join hands with SMT, who have a strong leadership in interventional cardiology and has demonstrated aggressive growth in this business. This association will create tremendous market opportunities for both companies to grow in structural heart disease. Vascular Concepts is committed to driving further innovation in the field of structural heart which can be commercialised together with SMT.”
With an addition of aortic valve to its product categories, SMT advances in its mission to provide best-in-class cardiac care to the healthcare community and patients.