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Renal Denervation: Device Market’s Gold Rush

Three years ago, only Ardian was publicly working on renal denervation devices for hypertension, but at last month’s ACC meeting, some said there were now anywhere from 16 to 40 companies in the space. Fast followers don’t want to miss out on an IP land grab in today’s hottest medical device space.

It’s hard not to see renal denervation as a gold rush of sorts. Three years ago, only Ardian Inc. was publicly working on the new device treatment for resistant hypertension. At March’s annual meeting of the American College of Cardiology, presenters said there were as many as 40 companies staking claims in the space, including Medtronic PLC, St. Jude Medical Inc., Boston Scientific Corp. and a large number of start-ups, all of which are racing to be among the first companies in the market. Overnight, it seems, a nascent field has become crowded and competitive. What happened?

Some eyebrows may have been raised in 2009 when Medtronic and a group of venture investors raised $47 million for Ardian’s Series C round, as the smaller company was developing...

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