Access Vascular, a Massachusetts-based device maker that focuses on intravenous catheters, has inked a new partnership deal with medical supply giant Medline to help roll out a new line of catheters.
Although financial details of the deal weren’t disclosed, the partnership is focused on the distribution of Access Vascular’s line of HydroMID and HydroPICC catheters that recently garnered an anti-thrombogenic indication from the FDA, the company said in a June 23 press release.
The devices offer a proprietary hydrogel material with anti-thrombogenic properties that aid in addressing catheter-related complications, such as thrombosis and occlusion, which are potential sources of morbidity, readmissions, and higher costs for for healthcare systems.
The company hopes to break through in a category long dominated by polyurethane-based catheter technologies that is estimated to be valued at more than $600 million, it said.
“Vascular access has needed a better solution for decades — we built a technology that significantly reduces device-replacement and complication rates based on real-world evidence, now we’re bringing it to hospitals across the U.S.,” James Biggins, Access Vascular’s chief executive, said in a statement. “This partnership gives us the commercial reach to match our clinical ambition.”
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The deal calls for the devices to be co-branded, co-developed products and will be available from Medline later this year as part of fully assembled, customizable procedure kits available to health systems across the U.S. That includes more than 1,600 “prime vendor” customers in which Medline is the primary medical-surgical products supplier.
Late last year, Medline raised an eye-watering $6.26 billion in its IPO, marking one of the biggest public offerings in the sector and the biggest haul of the year.
However, more recently, the giant medical device distributor has been in the news for a fire that destroyed its 1-million-square-foot supply warehouse in Tracy, California, near Sacramento.
