MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

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

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

By

Boston Scientific, Apama Medical

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-human study of the device showed the Apama RF balloon met safety and efficacy endpoints and achieved successful pulmonary vein isolation in treating paroxysmal AF patients.

“Study results reinforce the Apama RF balloon is an advancement in single-shot technology for PVI and can provide physicians with greater control and efficiency when performing AF ablations. We look forward to continuing the development and commercialization of this novel ablation solution to treat both paroxysmal and persistent AF,” Boston Scientific rhythm management and global health policy chief medical officer Dr. Kenneth Stein said in a press release.

The Apama RF balloon is currently being studied in clinical trials in Europe as the company looks to achieve CE Mark approval, which it hopes to receive in late 2018.

Boston Scientific said the acquisition is expected to be immaterial to its adjusted earnings per share for 2017 and 2018, and more dilutive on a GAAP basis due to amoritization expense, transaction and integration related costs.

Last November, Apama Medical said it raised a total of $19.7 million, with $13.2 million coming from a closed Series C round and $6.5 million from a debt facility with Silicon Valley Bank.

In case you missed it

RSS From Medical Design & Outsourcing

  • BD acquires resorbable polymer maker Tepha
    BD (NYSE:BDX) today announced that it has acquired resorbable polymer technology maker Tepha for an undisclosed amount. Franklin Lakes, N.J.-based BD said that Tepha’s resorbable polymer technology will be used to accelerate BD’s growth of its surgical mesh for soft tissue repair, reconstruction and regeneration. Tepha’s GalaFlex portfolio is also included in the acquisition. Get the… […]
  • Blackrock Neurotech and ClearPoint Neuro want to automate brain implant surgeries
    ClearPoint Neuro (NSDQ:CLPT) announced an agreement with Blackrock Neurotech to develop automated technologies for brain implant surgeries. The partnership will seek to develop an automated surgical solution for implanting brain-computer interfaces (BCIs) into patients with neurological disorders — including from paralysis, ALS, blindness and hearing loss. Solana Beach, Calif.–based ClearPoint Neuro said in a news… […]
  • New Mountain Capital to acquire Flexan
    New Mountain Capital’s ILC Dover today announced that it has reached a definitive agreement to acquire Flexan for an undisclosed amount. Lincolnshire, Ill.–based Flexan is a contract design and manufacturing company specializing in high-precision silicone, rubber and thermoplastic components for the medical device industry. The acquisition will allow both companies to serve a broader client… […]
  • How COVID-19 changed medical device clinical trials forever
    The success of remote clinical trial oversight opens the door to hybrid approaches and creates new possibilities for the future of trials. DeviceTalks Because of the pandemic, virtually overnight, all players involved in medical device clinical trials had to pivot to virtual monitoring to keep trials going. What impact did remote trial oversight have on… […]
  • Nuvasive launches ALIF 3D printed porous titanium implant
    Nuvasive this week announced that it has launched its Modulus ALIF 3D printed porous titanium implant for anterior lumbar interbody fusion. San Diego-based Nuvasive designed Modulus for enhanced osseointegration, according to the company. It has a porous surface architecture engineered for fusion and promotes new bone on-growth and in-growth. The design also allows for enhanced… […]
  • Cardinal Health subsidiary faces federal lawsuit over EtO plant in Georgia
    Nearly two dozen people who have lived in the Augusta, Ga. area are suing Cardinal Health subsidiary Kendall Patient Recovery U.S. over ethylene oxide emissions from a medical device sterilization plant in the city. The people suing KPR U.S. in U.S. District Court in Southern Georgia lived and worked within miles of the Augusta facility… […]
  • FDA seeks expanded authority to boost medical device supply chain
    The FDA announced as part of its annual budget proposal that it will include $21.6 million for a new Resilient Supply Chain and Shortages Prevention Program (RSCSPP). Funding from the RSCSPP for the Center for Devices and Radiological Health (CDRH) will provide — the FDA says, for the first time — resources to establish a… […]
  • Using RVI to prevent contamination and maintain purity of pharmaceuticals 
    Here’s how remote visual inspection (RVI) can help pharma companies prevent contamination and maintain product-line purity requirements. Hafees Fraisada, Olympus Bacterial or foreign-particle contamination in production-line equipment can cause serious health issues for consumers and shake public confidence in the industry. Strict purity and contamination control of pharmaceutical manufacturing facilities is required under various international… […]
  • The 18 most innovative medical devices of 2021
    The Galien Foundation today announced the nominees for most innovative medical devices for its 15th annual Prix Galien USA Awards. The foundation nominates devices, biotechnology and pharmaceutical products for its annual Prix Galien awards to highlight products designed to improve the human condition. “The Awards Committee is excited to introduce the nominees for the 2021… […]
  • Stäubli Robotics appoints new pharma and medical device head
    The mechatronics and robotics company Stäubli (Pfäffikon, Switzerland) has named Olivier Cremoux to be the deputy head of pharma and medical device for Stäubli Robotics North America. Cremoux has worked in various Stäubli divisions since 2015 and has served as an international business development manager. In 2018, he began a stint as a North American… […]
  • Novanta acquires ATI Industrial Automation and its surgical robotics tech
    Novanta today announced that it has agreed to acquire ATI Industrial Automation for $172 million in cash. Bedford, Mass.–based Novanta plans to acquire the OEM surgical robotics supplier for $172 million upfront in cash and additional contingent cash payments associated with company financial performance in 2021. The company will also grant performance stock units. ATI… […]