Latest Boston Sci Deal Shakes up Mitral Repair Market

Boston Scientific is slipping in one more deal (maybe?) before 2018 ends, and it could have significant implications. This time out, the Marlborough, MA-based company will gain a stronger foothold in the transcatheter mitral repair and replacement market by exercising its option to acquire the remaining shares of Millipede Inc. The deal will have Boston Scientific doling out $325 million with a $125 million payment becoming available upon achievement of a commercial milestone. The Millipede acquisition is set to close prior to the end of 1Q19. Boston Scientific’s latest acquisition target is developing the Iris Transcatheter Annuloplasty Ring System for the treatment of patients with severe mitral regurgitation (MR), who are not able to tolerate open-heart surgery. In an email sent to MD+DI, Boston Scientific said it believes “both transcatheter mitral repair and replacement are high-growth segments, as there is a large and currently underserved patient population with severe MR that has compromised heart function and is thereby unable to tolerate open-heart surgery to repair or replace the leaking valve.” The company went on to say that, “transcatheter mitral remains a significant potential market opportunity, and there’s ample runway for it to position itself as a category leader in this space, particularly with the features of the IRIS device which are designed to have applicability a...
Source: MDDI - Category: Medical Devices Authors: Tags: Cardiovascular Business Source Type: news