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§ Private Profile · Webster, TX, USA
Medical device developer for interventional radiology, vascular surgery, and cardiology, focused on peripheral artery disease treatments.
IDEV Technologies, based in Webster, Texas, developed next-generation minimally invasive medical devices for interventional radiology, vascular surgery, and cardiology, specifically targeting peripheral artery disease treatments. Their flagship product, the SUPERA VERITAS Peripheral Vascular System, featured the self-expanding SUPERA stent designed for reliable delivery in challenging areas like the superficial femoral and popliteal arteries, serving the peripheral vascular market. The company successfully raised $46 million in Series D funding from investors including RiverVest Ventures, Pinto Technology Ventures, Bay City Capital, and a strategic global healthcare company. Led by CEO Christopher M. Owens from 2008 until its acquisition, IDEV Technologies was ultimately acquired by Abbott in 2013 for $310 million, net of cash and debt. The organization was founded in 1999 by Jeffrey Sheldon and Dr. Andras Konya.
IDEV Technologies has raised $46.0M across 1 funding round.
IDEV Technologies has raised $46.0M in total across 1 funding round.
IDEV Technologies has raised $46.0M across 1 funding round. Most recently, it raised $46.0M Series D in October 2010.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Oct 1, 2010 | $46M Series D | — | Rivervest, BAY City Capital, Heron Capital, Piper Jaffray, PJC Capital, PTV Sciences, RiverVest Venture Partners | Announced |
IDEV Technologies has raised $46.0M in total across 1 funding round.
IDEV Technologies's investors include RiverVest, Bay City Capital, Heron Capital, Piper Jaffray, PJC Capital, PTV Sciences, RiverVest Venture Partners.
IDEV Technologies is a medical device company that developed and commercialized the SUPERA Veritas, a woven nitinol wire self-expanding stent system for treating peripheral artery disease (PAD) and blockages in blood vessels due to peripheral arterial stenosis.[1][2] It targeted patients with endovascular and interventional needs, such as those with biliary strictures or superficial femoral artery (SFA) issues, solving problems like vessel blockages through stents offering superior flexibility, radial strength, kink resistance, and crush resistance compared to traditional options.[1][2] Founded in 2006 and headquartered in Webster, Texas, the company raised $107.87M before being acquired by Abbott in 2013 for $310M net of cash and debt, marking strong growth momentum in the peripheral vascular space.[1][5]
IDEV Technologies was founded in 2006 as an emerging growth medical device firm focused on endovascular and interventional applications.[1][2][3] Key executives included President and CEO Jay Lenker, a managing director and co-founder of RiverVes with prior experience in cardiovascular medical devices at Medtronic and Piper Jaffray, and an Executive Vice President & CFO based in Webster, TX.[2] The idea emerged from advancing nitinol stent technology, leading to early traction with SUPERA's approval for biliary strictures in the US and enrollment in the SUPERB IDE trial for SFA use in PAD patients; this built pivotal momentum culminating in Abbott's acquisition to bolster its peripheral portfolio.[1][2][5]
IDEV rode the trend of advancing peripheral vascular interventions amid rising PAD prevalence, where minimally invasive stents addressed limitations of older balloon-expandable or laser-cut designs.[1][2] Timing aligned with growing demand for durable, flexible nitinol devices in the 2000s-2010s, fueled by aging populations and improved endovascular techniques; market forces like competition from firms such as Endologix (focused on aortic aneurysms) highlighted IDEV's niche in SFA and PAD.[1] Its acquisition by Abbott amplified influence, integrating SUPERA into a major medtech ecosystem to expand global peripheral offerings and drive adoption in vascular surgery.[5]
Post-2013 acquisition, IDEV's SUPERA integrated into Abbott's vascular portfolio, likely sustaining growth through expanded trials, global approvals, and R&D synergies in PAD treatments.[1][5] Trends like rising interventional cardiology demands and nitinol innovations will shape its trajectory, potentially evolving Abbott's influence via next-gen stents or combination therapies. This positions IDEV's legacy as a foundational player in durable peripheral solutions, tying back to its core mission of superior endovascular stents.