German healthcare company Fresenius Kabi has signed a definitive agreement to acquire US medical technology company Ivenix.
The acquisition will include an upfront payment of $240 million, as well as milestone payments tied to the achievement of business and operational goals.
Ivenix has designed an infusion system that includes a large volume pump with infusion management software tools, administration sets, apps and analytics to inform care and improve efficiency.
The infusion system has been designed to reduce infusion-related errors.
It was launched last year after receiving clearance from the US Food and Drug Administration (FDA).
Michael Sen, President and CEO of Fresenius Kabi, said, “Combining Ivenix’s expertise in pump technology and software with our infrastructure, portfolio and hospital presence represents an ideal opportunity.
“We intend to expand the launch of Ivenix’s next-generation infusion system while creating growth opportunities in the United States.”
Ivenix expects the combination of its advanced infusion system with Fresenius Kabi’s intravenous fluids and infusion therapy to bring a comprehensive portfolio of infusion products to US hospitals.
The transaction aims to accelerate operational and commercial growth and scale to provide a platform for “rapid” expansion.
Additionally, it will expand Ivenix’s combined infusion therapy portfolio and infusion capabilities.
Ivenix CEO Jorgen B Hansen said, “We are very pleased to partner with Fresenius Kabi, a global healthcare leader.
“Together, we intend to transform the standard of care for North American healthcare providers and patients by providing the highest level of safe and effective integrated infusion care.”
The transaction is expected to close by the middle of this year, subject to regulatory approvals and other customary closing conditions.
Last month, Fresenius Kabi received 510(k) clearance for its Agilia Connect Wireless Infusion System with Vigilant Software Suite-Vigilant Master Med Technology from the FDA.