Covidien pulled the plug on its renal denervation initiative, citing “slower than expected development of the renal denervation market.”

Covidien’s decision to shutter its OneShot renal denervation effort comes on the heels of an announcement by Medtronic that the SYMPLICITY HTN-3 clinical trial failed to meet its efficacy endpoint. The therapy is being developed as a treatment for uncontrolled hypertension.

Dublin-based Covidien reported that it would not proceed with its RAPID II trial (Rapid Sympathetic Denervation for Resistant Hypertension II). The randomized clinical trial was designed to compare patients who received bilateral renal ablation with the OneShot system to patients who received no intervention. The system, which uses an over-the-wire balloon-based irrigated catheter technology, received CE mark in Europe in 2012 but was not yet approved for use in the U.S.

Covidien will continue to work with physicians and enrolled patients in RAPID II on a transition strategy. It said in a release that the company “believes that the long-term hypertension market remains attractive and will continue to explore opportunities in this area.”