Ekos, a Bothell medical device maker whose catheter-based ultrasound devices are used to break up blood clots in legs, has been acquired by British pharmaceutical company BTG for $180 million. The deal also includes up to $40 million in additional payouts if milestones are met.
Led by former Medtronic executive Robert Hubert, Ekos launched first system for the treatment of vascular thrombosis in 2005. Ekos’ EkoSonic product had about $28 million in sales last year, and was growing at about 30 percent year-over-year, according to Reuters.
Backers of Ekos included Ascension Health Ventures,Oakwood Medical Investors, Trellis Health Ventures, CID Equity Capital, EGS Private Healthcare Investors, MedVenture Associates, Mitsui & Co. Venture Partners, Morgan Stanley Venture Partners and NGN Capital. It raised $26 million in series C funding in 2006, and another $12.5 million in 2009. In total, more than $100 million was invested in the company since it was co-founded by former 3M Health and Physio Control manager Douglas Hansmann in 1995.