Boston Scientific to acquire stroke prevention device firm for $1B
Photo | Courtesy Boston Scientific
Boston Scientific headquarters, Marlborough
Marlborough medical device manufacturing firm Boston Scientific looks to soon add stroke prevention treatment to its portfolio, as the manufacturer has entered into a $1.16 billion agreement to purchase California-based medical device company Silk Road Medical.
With the acquisition, Boston Scientific will produce products currently manufactured by Silk Road Medical used in transcarotid artery revascularization: a minimally invasive procedure used to prevent plaque from entering the brain and causing strokes by opening a narrowed carotid artery and temporarily redirecting blood flow, according to a Tuesday press release from Boston Scientific.
The TCAR devices sold by Silk Road Medical are the sole products commercially available for use during the TCAR procedure, a method approved by the U.S. Food and Drug Administration in 2015.
"The TCAR platform developed by Silk Road Medical is a notable advancement in the field of vascular medicine, which has revolutionized stroke prevention and the treatment of carotid artery disease," Cat Jennings, Boston Scientific president vascular, peripheral interventions, said in the release. "We believe the addition of this clinically differentiated technology to our vascular portfolio demonstrates our continued commitment to provide meaningful innovation for physicians who care for patients with peripheral vascular disease."
Pending customary closing conditions, Boston Scientific anticipates completing the purchase transaction in the second half of 2024.
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