Boston Scientific announces 7th acquisition of 2018 for $270M
Courtesy | Boston Scientific
Boston Scientific's headquarters are located in Marlborough.
Boston Scientific has announced its seventh acquisition of 2018, signing an agreement to take over California-based Claret Medical for up to $270 million.
The purchase price includes $220 million in up-front cash and up to another $50 million in milestone-based payments.
In 2018 alone, Boston Scientific has announced seven acquisitions worth up to $1.4 billion.
The acquisition centers around Claret Medical’s Sentinel Cerebral Embolic Protection System, which used to to protect the brain during heart surgery.
The system received the CE Mark in 2014 and the U.S. Food and Drug Administration’s approval in 2017 and is the only device cleared to protect patients against the risk of stroke during transcatheter aortic valve replacement surgery.
Debris like calcium or tissue can break loose during the procedure and travel through the bloodstream towards the brain and could cause neurological and neurocognitive damage.
In a clinical trial and led to U.S. clearance, the Sentinel System was found to have reduced the incidence of strokes by 63 percent within the first 72 hours of the procedure.
In clinical studies, the system captured debris flowing towards the brain in 99 percent of patients.
In just one year of U.S. commercialization, the device is used on average in 60 percent of such procedures across 100 centers.
The device adds to Boston Scientific’s long list of cardiology products.
“This acquisition will expand our commercial portfolio to include an important adjunctive offering aimed at improving TAVR patient outcomes,” said Kevin Ballinger, the president of Boston Scientific’s interventional cardiology unit. “We also see potential for future use in other left heart and endovascular procedures such as mitral valve repair and replacement, left atrial appendage closure and pulmonary vein isolation ablation procedures for atrial fibrillation."
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