Veniti

About Veniti

Veniti, Inc., a medical device company, focused its efforts on developing a suite of technologies for the treatment of venous disease. The company was founded in 2010 by Robert Rukavina and Steven F. Bierman. Mr. Rukavina brought to the venture his experience from previous roles at companies like C.R. Bard and Kensey Nash, while Dr. Bierman's background as a physician and entrepreneur in the medical device field informed the company's clinical direction. Veniti operated in the medical technology market, specifically targeting the unmet needs of patients suffering from chronic venous insufficiency and other venous outflow obstructions.

The company's core business involved the design, development, and commercialization of medical devices for endovascular procedures. Its flagship product was the Vici Venous Stent System, a self-expanding stent made of a nickel-titanium alloy (nitinol). This device was engineered to be both flexible and crush-resistant, properties specifically designed to withstand the anatomical forces present in the deep venous system. The Vici stent aimed to restore blood flow by providing a stable and patent lumen in veins that had become narrowed or blocked. Its client base consisted primarily of hospitals and specialized clinics where interventional radiologists, cardiologists, and vascular surgeons perform such procedures.

A significant milestone in Veniti's history was the acquisition by Boston Scientific in 2018 for an upfront cash payment of $108 million, with up to an additional $52 million in payments contingent on FDA approval of the Vici stent system. This acquisition represented a strategic move for Boston Scientific to enter and expand its presence in the venous therapy market. Following the acquisition, the Vici stent received Premarket Approval (PMA) from the U.S. Food and Drug Administration (FDA) in 2019, marking its official entry into the U.S. market. The business model, post-acquisition, is integrated into Boston Scientific's broader portfolio, leveraging its extensive sales and distribution network to commercialize the Vici stent system globally.