Feb. 28, 2018
(News Release) Teijin to Acquire Medical Device Company to Develop Ventricular Assist Devices
Teijin Limited announced today that it has reached an agreement with M3i, Inc. located in Tokyo Japan to acquire a controlling interest in MedTech Heart, a company that researches and develops medical devices in Japan. Once Teijin takes possession of 93.8% of the stock held by the Seeds Rocket limited liability partnership, a venture capital company in the M3, Inc. group, it will turn the company into a consolidated subsidiary named Teijin MedTecHeart Co., Ltd. by the end of March 2018. The acquisition includes MedTecHeart GmbH, a German subsidiary of MedTech Heart, a company that also researches and develops medical devices in Europe.
Teijin believes that the high-quality ventricular assist devices and technologies that MedTech Heart is currently developing will further strengthen the Teijin’s involvement in the medical device field. For similar purposes, Teijin previously acquired a stake in Teijin Nakashima Medical Co., Ltd. and established Teijin Medical Technologies Co., Ltd..
For the treatment of heart failures, Japan currently offers a limited selection of extracorporeal ventricular assist devices usable from one week to one month, compared to the ventricular assist devices usable for the duration of just a half day or over a year. Since 2011, MedTech Heart has been refining the MT-Mag, a next-generation magnetic levitation centrifugal ventricular assist device that allows for 30-day of continuous use. The MT-Mag will mitigate the risks of blood damage caused by the rotating impeller contacting the pump housing as well as the heat generated by the mechanical bearing that supports the rotating impeller, in effect decreasing the danger of blood-clot formation, a serious adverse event. It is expected to be utilized to support patients recovering from serious heart failure and also as an option during the transitional period to bridge the patients to the optimal therapies. Teijin aims to obtain manufacturing and marketing approval for MT-Mag initially in Europe in around 2021, and then in Japan in around 2024.
Going forward, Teijin will leverage technologies and know-how cultivated by MedTech Heart to develop innovative medical devices that improve the quality of life for patients suffering from cardiovascular and respiratory diseases. Teijin believes that this acquisition will help lead to the development of higher-quality medical devices in the future.
MedTech Heart, Inc.
|Established||August 22, 2011|
|President & CEO||Prof. Dr. Setsuo Takatani|
|Main business||Research & development of medical devices (blood pumps)|
About the Teijin Group
Teijin (TSE: 3401) is a technology-driven global group offering advanced solutions in the areas of environmental value; safety, security and disaster mitigation; and demographic change and increased health consciousness. Its main fields of operation are high-performance fibers such as aramid, carbon fibers & composites, healthcare, films, resin & plastic processing, polyester fibers, products converting and IT. The group has some 170 companies and around 19,000 employees spread out over 20 countries worldwide. It posted consolidated sales of JPY741.3 billion (USD 6.5 billion) and total assets of JPY 964.1 billion (USD 8.5 billion) in the fiscal year ending March 31, 2017. Please visit www.teijin.com
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