Spectranetics Buys Upstream Peripheral Technologies for $5.5M Upfront

Spectranetics Corporation

today announced an agreement to purchase the assets of Upstream Peripheral Technologies, Ltd., an affiliate of ARAN Research Development & Prototypes Ltd., for up-front consideration of $5.5 million with additional milestone payments tied to revenue, manufacturing transfer, and other milestones specified in the asset purchase agreement. Included in the acquisition are unique technologies that expand Spectranetics' Vascular Intervention portfolio. The products have received U.S. Food and Drug Administration (FDA) 510(k) clearance and have been issued CE certificates. A full launch in the United States and Europe will occur in February 2013.