Spectranetics buying Israeli medical device maker for $5.5 million

Spectranetics Corp., a Colorado Springs-based medical device manufacturer, announced today that it plans to buy Israeli medical-device maker Upstream Peripheral Technologies for $5.5 million, plus additional milestone payments.

Upstream Peripheral Technologies, an affiliate of  ARAN Research Development & Prototypes Ltd., has produced tools that streamline peripheral vascular procedures and minimize radiation exposure.

The acquisition allows Spectranetics to expand its vascular intervention portfolio, which includes other products that have received Food and Drug Administration approval and will debut in February.

“This acquisition is a move consistent with our strategy to treat challenging endovascular lesions,” Spectranetics CEO Scott Drake said. “The technologies are complementary to our vascular portfolio.”