Medivance

About Medivance

Medivance, Inc. operated as a medical technology firm focused on the emerging field of Targeted Temperature Management (TTM). Founded in 1998 by Robert Kline, who also served as CEO, the company established itself as a market leader in therapeutic hypothermia. Headquartered in Louisville, Colorado, Medivance developed and commercialized the Arctic Sun™ Temperature Management System, a non-invasive technology designed to precisely regulate a patient's core body temperature.

The company's business model revolved around the sale of its proprietary medical devices and the associated single-use disposable products to hospitals and critical care units. Its primary clients were clinicians in intensive care settings treating patients for a variety of conditions where temperature control is crucial for improved outcomes, such as after cardiac arrest. The technology addressed a significant unmet need in a market segment experiencing double-digit growth. Over its history as a private entity, Medivance successfully raised $59.2 million in capital from institutional investors, including Camden Partners and Cross Atlantic Capital Partners, to fund its growth and product development.

Medivance's flagship product, the Arctic Sun™ system, consists of a control module and single-use ArcticGel™ Pads that adhere to the patient's skin. This system enables highly efficient heat transfer by circulating temperature-controlled water through the pads, allowing clinicians to rapidly and precisely manage patient temperature between 32 and 38.5 degrees Celsius. Key features included pre-programmable protocols, automated temperature feedback and adjustments, and the ability to download treatment data for analysis. A significant milestone was the 510(k) clearance from the FDA for its next-generation Arctic Sun® 5000 model in 2010. A major corporate achievement occurred in October 2011, when C.R. Bard, Inc. announced its acquisition of Medivance for approximately $250 million, integrating the company into its Bard Medical division to complement its critical care product line.