Boston Scientific to acquire Ohio firm for $50M
WBJ File Photo
Boston Scientific's Marlborough headquarters
Marlborough medical device manufacturer Boston Scientific has made its sixth acquisition since April 2017, this time of an Ohio medical device firm for up to $50 million.
This year alone, Boston Scientific has announced acquisitions that could total more than $1 billion.
Announced Tuesday was the acquisition of Securus Medical Group, a privately-held biotech that has developed a thermal monitoring system for the continuous measurement of esophageal temperature.
Boston Scientific has already invested in Securus since 2016. The transaction price for the remaining stake of the company includes $40 million in up-front cash and up to $10 million in payments contingent on regulatory and commercial milestones.
Securus’ device, an integrated catheter-based probe and imaging system, generates real-time images of the temperature of the esophagus during a procedure to correct an irregular heartbeat.
The latest system from Securus achieved premarket notification from the U.S. Food and Drug Administration and is expected to be commercially available in the U.S. as part of Boston Scientific’s portfolio in the first half of 2019.
The potential $50 million transaction is the lowest announced purchase that Boston Scientific has made since April 2017.
The company has now announced four transactions this year, including the purchase of Minnesota prostate firm for up to $406 million announced last month and another of a California heart device firm for up to $540 million.
WBJ Web Partners
Most Recent
Most Recent
0 Comments