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Covidien continues to design outcomes-based clinical studies to confirm the real world safety and effectiveness of its advanced neurovascular technologies and explore new applications where there is a significant unmet medical need for additional treatment options," said Stacey Pugh, vice president of medical affairs, Neurovascular, at Covidien.
reestablishing designated intervals for National Institute of Health Stroke Scale (NIHSS) and neurovascular checks.
It also plans to record a pretax gain from the sale of the neurovascular business of more than $500 million in the first quarter.
Maria Sainz, president and CEO of Concentric Medical, said, "We are very excited to bring a full family of neurovascular devices to the market.
Commenting on the report, an analyst from TechNavio's Healthcare team said: "The Global Neurovascular Intervention Devices market is witnessing an increase in mergers and acquisitions.
Factors such as growth in the target patient population, technological advancement in the field of interventional neurosurgeries, favorable medical reimbursements across mature markets, and expanding healthcare infrastructure across developing countries are driving the growth of the Neurovascular Devices/Interventional Neurology Market during the forecast period.
Covidien will report the Reverse Medical business as part of its Neurovascular product line in the Medical Devices segment.
Boston Scientific's neurovascular business, which employs 1,150 people, is based in Fremont, Calif.
This is the second announcement of a major merger in the neurovascular market in the last six weeks.
Cordis Neurovascular develops, manufactures and markets medical devices for the neurovascular applications, particularly cerebral embolization procedures.
Neurovascular ultrasound is an important diagnostic tool for assessing cerebrovascular disease and has a number of therapeutic applications as well.