Boston Scientific Completes Acquisition of Calif. Firm
Boston Scientific has acquired Cameron Health Inc., maker of the implantable cardioverter-defibrillator (ICD) S-ICD System.
Natick-based medical device maker Boston Scientific Corp. (BSX) has closed its acquisition of Cameron Health Inc. for $150 million, adding Cameron's implantable cardioverter-defibrillator (ICD) to its product line.
The acquisition of the San Clemente, Calif., company is a result of a 10-year relationship between the two firms during which BSX invested in Cameron Health's research and product commercialization efforts. It's S-ICD System goes just below the skin, leaving the heart and blood vessels untouched, offering patients with a high risk of sudden cardiac arrest an alternative to conventional ICDs, which require thin, insulated wires to be placed into the heart itself.
BSX CEO Hank Kucheman said, "Boston Scientific now provides physicians and their patients with an option to choose either the industry's thinnest, longest-lasting transvenous ICD or the world's first and only commercially available completely subcutaneous ICD."
Former Cameron Health CEO Kevin Hykes will continue to lead the S-ICD team at BSX.
In addition to the costs at closing, BSX will potentially make another $150-million payment upon the U.S. Food and Drug Administration's approval of the S-ICD System. Up to an additional $1 billion of potential payments would be made upon the achievement of specified revenue-based criteria over a six-year period.
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