Lazarus Effect

Lazarus Effect, founded in 2005 and headquartered in Campbell, California, operated in the surgical device sector with a focus on developing interventional devices for blood clot removal. The company's core technology was a patented, wire-frame platform designed to facilitate the removal of blood clots, particularly in patients suffering from acute ischemic stroke. One of its key figures was Martin Dieck, who served as co-founder, Chairman, and CEO.

The company developed a portfolio of vascular-device products based on its proprietary technology. Notable products included the Lazarus ReCover and the Lazarus Cover, which received CE Mark for use in Europe, and the Lazarus Funnel Guide Catheter, which was cleared for use in the United States. The Lazarus Cover was specifically designed as a complementary technology to be used with stent retrievers. It featured a nitinol "mesh cover" that would fold over a stent retriever during clot retrieval, effectively wrapping the clot to prevent fragmentation.

Lazarus Effect's business model revolved around the development and commercialization of these medical devices to clinicians and hospitals. In July 2014, the company announced it had closed a $5 million financing round to support the commercialization of its approved devices in the European Union and to pursue regulatory filings in the United States. This funding reflected investor confidence in the company's technology platform and its intellectual property, which included five issued U.S. patents at the time. A significant milestone occurred on September 28, 2015, when Medtronic plc acquired Lazarus Effect in an all-cash transaction valued at $100 million. This acquisition integrated Lazarus Effect's products into Medtronic's Neurovascular division, complementing their existing Solitaire stent retriever platform and strengthening their position in the stroke treatment market.

Keywords: medical devices, surgical devices, interventional devices, blood clot removal, ischemic stroke treatment, vascular devices, wire-frame technology, neurointerventional products, stent retriever, thrombectomy, Medtronic acquisition, Martin Dieck, Lazarus ReCover, Lazarus Cover, Lazarus Funnel Guide Catheter