Sorin Group Finalizes Additional Investment in Enopace Biomedical

By Edward B. Doong

Feb 28, 2013 11:53 AM EST

Global medical device company Sorin Group announced that it has closed its additional minority investment and an option-to-buy in Enopace Biomedical, a developer of innovative device for treating heart failure.

The investment will help Sorin develop unique interventional technology for the biggest unmet clinic need in the cardiovascular field.

The technology of Enopace consists of an endovascular microstimulator capable of increasing cardiac efficiency by decreasing left ventricular workload in patients with heart failure.

Sorin Group has an investment of $5 million in Enopace and plans to add investments as long as it achieves development milestones.

Under the terms to the agreement, Sorin is allowed to take over Enopace in the future.

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