PEAK Surgical, Inc. and Medtronic, Inc. (NYSE: MDT) today announced an agreement that grants the Surgical Technologies business at Medtronic exclusive rights for global distribution and marketing of the PEAK PlasmaBlade® TnA (Tonsil and Adenoid) tissue dissection device for the ear, nose, and throat (ENT) market.
"PEAK's agreement with Medtronic is a major step toward our goal of capturing significant market share of the sizable global tonsillectomy and adenoidectomy market," said John Tighe, president and chief executive officer of PEAK Surgical. "Medtronic's global reach and extensive ENT product line is a great match for us and we are confident that this agreement, combined with the clinical benefits of the PEAK® Technology, will drive further physician adoption of our devices and technology."
The agreement provides Medtronic with exclusive global distribution rights for the PEAK PlasmaBlade TnA tissue dissection device for the ENT market. Additionally, PEAK will have access to a line of credit that can be used for general working capital purposes.
The PEAK PlasmaBlade TnA is indicated for cutting and coagulation of soft tissue during otolaryngology (ENT) surgery, including removal of the tonsils and adenoids. It is part of the PEAK PlasmaBlade family of disposable, low-temperature surgical cutting and coagulation devices that offer the exacting control of a scalpel and the bleeding control of traditional electrosurgery without the extensive collateral damage to surrounding tissue.
"The PEAK PlasmaBlade TnA complements Medtronic's current products for chronic tonsillitis, otitis media and obstructive sleep apnea," stated Mark Fletcher, president of the ENT division part of the Surgical Technologies business at Medtronic. "We're pleased to offer this technology and expand the treatment solutions we provide to our customers."