University of Maryland Baltimore-based startup Harpoon Medical acquired for $100 million
Harpoon Medical, a Baltimore-based medical device startup, has been acquired by Edwards Lifesciences Corp. for $100 million. The deal also includes up to $150 million in milestone-driven payments over the next 10 years. Harpoon was founded in 2013 with technology licensed from the University of Maryland. A visit to Harpoon Medical website now redirects visitors to Edwards Lifesciences website with a notice that reads:
Harpoon Medical is now a part of Edwards Lifesciences
Nearly 60 years ago, our company began with a commitment to foster innovation through collaboration. Today, with our surgeon partners, we continue to deliver innovation with the acquisition of Harpoon Medical. We will never stop investing in new technologies that empowers surgeons to improve outcomes and enhance lives.
Harpoon Medical is a leading innovator of therapeutic solutions for patients with mitral valve disease. It’s device is a less invasive alternative for mitral valve repair, designed to shorten the duration of the procedure and recovery period. The device was invented by Dr. James. S. Gammie. Dr. Gammie is a founding stakeholder and inventor of the Harpoon Medical device. He is also a professor of cardiac surgery and the Director of the Center for Heart Valve Disease at the University of Maryland in Baltimore, Maryland.
Before the acquisition, Bill Niland was the President and CEO of Harpoon Medical. Harpoon Medical is Bill’s fourth medical device startup over a 25-year career in the medical device industry. He founded and was the Chief Business Officer of Vapotherm, a noninvasive ventilation company that pioneered a new treatment modality now known as “high flow nasal cannula therapy.” Earlier in his career Bill started and successfully managed two other healthcare companies which were eventually sold to Mediq Mobile X-ray and Vital Signs. Bill holds 12 patents for medical devices.