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Medrad to purchase Pathway Medical

Medrad, a unit of Bayer Healthcare, is set to purchase Pathway Medical Technologies for $125m.

The deal also includes a bonus of $6.3m to retain certain members of Pathway’s senior management team, Xconomy reported.

Pathway is a maker of a device that clears out blood vessel blockages in the legs.

Pathway’s Jetstream uses a tiny stainless-steel drill mounted on a catheter that slides inside clogged leg arteries, where it cuts through and vacuums out hard plaque blockages and squishier clot-like substances.

The deal is still pending, awaiting final regulatory and shareholder approval.