Medtronic acquires Sapiens Steering Brain Stimulation for $200m
2 September 2014
Medtronic has announced that it has acquired privately held Dutch
company Sapiens Steering Brain Stimulation for approximately $200
million in an all-cash transaction. The deal
strengthens Medtronic's capabilities in the modulation of brain
Sapiens SBS, located in Eindhoven, The Netherlands, is developing
a deep brain stimulation (DBS) system that features an advanced DBS
lead with 40 individual stimulation points. This advanced system is
designed to allow more precise stimulation of the intended target in
the brain and may potentially result in reduced procedure time and
fewer stimulation-induced side effects.
Sapiens SBS was founded in 2011 by Sjaak
Deckers, Hubert Martens and Michel Decré as a spin-out from Philips
Healthcare. It is backed by Wellington Partners, Edmond de
Rothschild Investment Partners, Life Sciences Partners (LSP), the
Wellcome Trust, INKEF Capital and Gilde Healthcare.
In a very short time frame, Sapiens confirmed its initial
hypothesis in acute human trials in Parkinson patients and became a
clear leader in developing significantly improved devices for DBS
therapeutic applications. In 2013, medtech veteran Jan Keltjens
became the company's CEO and under his leadership the product was
further advanced and refined.
Employees at the Eindhoven facility will continue to work toward
bringing this technology to market. In the future, the site will
serve as a global research and development center for Medtronic's
neuromodulation business, complementing its existing R&D operations.
Medtronic and Sapiens SBS will work to finalize product development
and begin clinical research to integrate these technologies into an
expanded portfolio of DBS products within Medtronic's
"Since 2011, Sapiens SBS employees have worked tirelessly to
develop an advanced deep brain stimulation system," said Jan
Keltjens, chief executive officer at Sapiens SBS. "We are excited to
join Medtronic, and look forward to collectively working to bring
this and other novel technologies and therapies to neuromodulation
patients worldwide that could benefit from them."
"In only about 3 years, Sapiens SBS has achieved a lot. Also, the
way founders, management, board and investors have worked together
in this company is, in my opinion, quite exceptional. Through this
trade sale, in addition to making good return for our Limited
Partners, it is very satisfying to see now the Sapiens' products
integrated into the neurostimulation franchise of the DBS market
leader, as it gives this technology the best chances of helping
patients in the near future" says Olivier Litzka, Partner at EdRIP.