Mesa cardiologist sells medical device firm for more than $300M

Posted at 9:04 AM, Apr 20, 2021
and last updated 2021-04-20 12:04:42-04

Dr. Richard Heuser, a Mesa cardiologist who has 30 patents to his name and has started several medical device companies over the years, has sold one of them for more than $300 million.

Heuser had co-founded PQ Bypass with James Joye, a cardiologist in California, locating the company headquarters in Fremont, California.

Irvine, California-based Endologix LLC purchased the medical device company for more than $300 million, closing the deal on April 13.

Heuser and Joye's proprietary technology received designation by the U.S. Food and Drug Administration as a "Breakthrough Device," offering new treatments for severe peripheral arterial disease, or PAD.

The device and technique, which replaces leg bypass surgery, allows the blood vessel to stay open 80% to 90% of the time — an improvement over traditional surgical procedures, Heuser said.

Read more of this subscription-only story from the Business Journal.