Sulzer Medica Acquires Mitroflow

Sulzer Medica (Winterthur, Switzerland) has acquired Mitroflow Enterprise Ltd. (Richmond, B.C., Canada) for a base purchase price of $27 million. The acquisition enhances the product offering of Sulzer Carbomedics, the cardiac surgery company of Sulzer Medica, which now produces mechanical as well as tissue heart valves. The measure will strengthen the position of Sulzer Carbomedics in the growing tissue valve segment.

Mitroflow manufactures bovine pericardial tissue heart valves. In 1998 Sulzer Carbomedics began distributing the Mitroflow heart valve worldwide (except in Germany and Austria). Mitroflow is CE marked but not FDA approved yet.

Mitroflow will become part of the Cardiovascular Prostheses Division of Sulzer Medica. According to Terry Marlatt, President of the Division: "Our business will benefit from the great knowledge of Mitroflow in the production of tissue valves and pericardial tissue. We have provided technology-based solutions to surgeons and patients worldwide for the last 30 years. The Mitroflow Pericardial Heart Valve has proven consistent performance and has been successfully implanted in the past 15 years. Acquiring Mitroflow extends Sulzer Carbomedics' manufactured product offering."

The worldwide heart valve replacement market is estimated to be $700 million, $250 million are made with tissue heart valves. The pericardial heart valve segment, with USD 95 million the second largest within the tissue heart valve market, is estimated to growing 8% annually. Mitroflow currently has a market share of 7% in the pericardial heart valve segment.