CV Ingenuity

About CV Ingenuity

CV Ingenuity operated as a medical device company with a strategic focus on developing treatments for peripheral arterial disease (PAD). Founded in 2008 by serial medtech entrepreneur Duke Rohlen, the company was established to address the need for advanced solutions to relieve vascular obstructions and inhibit restenosis. Rohlen, who had previously led FoxHollow Technologies to a successful acquisition, started CV Ingenuity during the due diligence phase of the FoxHollow deal, demonstrating his forward-looking approach to identifying and acting on market needs.

The company's core business revolved around its drug-eluting balloon (DEB) platform technology. This technology featured a proprietary, tunable, and rapid-release system designed to treat vascular diseases and improve patient outcomes. Rather than competing to be first to market, CV Ingenuity adopted a second-mover strategy, concentrating its resources on research and development to enhance existing technologies. This involved developing its drug-coated balloon on top of an existing balloon from Covidien, a strategic decision that leveraged a potential acquirer's technology early on.

CV Ingenuity was venture-backed, securing funds from investors including New Enterprise Associates, BioStar Ventures, and Foghorn Capital. On December 26, 2012, Covidien announced a definitive agreement to acquire CV Ingenuity, a transaction that was completed in the first quarter of 2013. Following the acquisition for a reported $216 million, the business was integrated into Covidien's Vascular product line within its Medical Devices segment.