Boston Scientific to acquire Israel hypertension tech firm for up to $540M
Photo | Courtesy Boston Scientific
Boston Scientific headquarters in Marlborough
Marlborough medical device manufacturer Boston Scientific has entered into a purchase agreement worth up to half a billion dollars to acquire SoniVie, an Israel-headquartered medical device company with a focus on hypertensive disorders.
With the acquisition, Boston Scientific will add SoniVie’s TIVUS: an intravascular ultrasound system that cuts off the nerves surrounding blood vessels to treat high blood pressure. The investigational catheter-based technology is used during a procedure called renal artery denervation, which minimizes activity in the renal nerves of the kidney, according to the release.
Boston Scientific is a current investor in SoniVie, with a 10% equity stake. With the acquisition, Boston Scientific will pay $360 million upfront for the remaining 90% stake and up to an additional $180 million once specific regulatory milestones are met.
The company anticipates to complete the acquisition in the first half of 2025 with a slightly dilutive effect to adjusted earnings per share this year. Boston Scientific expects to counterbalance this via internal cost efficiencies and trade-offs.
"Renal denervation for hypertension is an exciting medical advancement for the millions of patients it may help and is supported by positive results from contemporary clinical trials and ongoing research," Lance Bates, Boston Scientific senior vice president and president of interventional cardiology therapies, said in the release. "We believe the addition of the differentiated, ultrasound-based TIVUS system can complement our expansive interventional portfolio with a minimally invasive therapy for patients with hypertension and provides opportunity for future advancements in this space."
Boston Scientific’s latest acquisition comes on the heels of a string of acquisitions at the end of last year. In November, the company announced its intent to acquire California medical technology company Cortex and Newton-based medical device company Intera Oncology in addition to completing its $3.7-billion purchase of California-based Axonics, Inc. In September, it closed its $1.2-billion acquisition of Silk Road Medical, yet another Golden State medical device maker.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare and diversity, equity, and inclusion industries.
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