Boston Scientific to acquire Apama Medical in deal worth up to $300m

Boston Scientific (NYSE:BSX) said today it inked a deal worth up to $300 million to acquire Apama Medical and its radiofrequency balloon catheter system designed to treat atrial fibrillation. The deal includes an initial $175 million in cash up-front from Marlborough, Mass.-based Boston Scientific and an additional $125 million in contingent payments between 2018 and 2020 based on clinical and regulatory milestones. Boston Scientific expects the acquisition to close the 4th quarter of 2017. Campbell, Calif.-based Apama’s novel RF balloon is a single-shot, multi-electrode device designed to combine the benefits of RF point-by-point and balloon-based ablation approaches, the company said, claiming the system delivers differentiated energy levels and shorter procedure times. The system features an incorporated digital camera with LED lights and sensing electrodes for real-time visualization of the procedure and catheter electrode contact. “The acquisition of Apama further advances our continued investment in the electrophysiology category, and, upon commercialization, would broaden our portfolio of differentiated arrhythmia solutions. We are also excited about the ability to integrate the Apama RF balloon system with our Rhythmia HDx mapping system to provide physicians with an unprecedented visualization of the heart during ablation procedures,” Boston Scientific rhythm management prez Joe Fitzgerald said in a prepared statement. Results from the 1st-in-h...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Cardiovascular Catheters Mergers & Acquisitions Apama Medical Boston Scientific Source Type: news