UPDATE: Boston Scientific gets in the high blood pressure game with $425M Vessix deal

November 8, 2012 by MassDevice staff

Boston Scientific agrees to pay up to $425 million for Vessix and its renal denervation treatment for high blood pressure, jumping into the renal denervation race alongside rivals St. Jude Medical and Medtronic and largely pulling the plug on its internal renal denervation program.

Boston Scientific acquires Vessix

UPDATED Nov. 8, 2012, 11:15 a.m. with additional comments from Boston Scientific

Boston Scientific (NYSE:BSX) CEO Michael Mahoney, about a week into his tenure as CEO, isn't wasting any time making good on a pledge to grow non-core businesses. The Natick, Mass.-based medical device company today said it's agreed to pay $425 million to acquire Vessix and its high blood pressure treatment.

Laguna Hills, Calif.-based Vessix makes the V2 renal denervation system, a catheter-based device that ablates the nerve lining the renal artery that are believed to play a role in high blood pressure, or hypertension.

The deal, expected to close by the end of the month, calls for BSX to pay $130 million in up-front cash plus another $300 million in milestone-based payments from 2013-2017. Those payments are pegged to a series of clinical and sales goals, according to a press release.

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