Boston Scientific (NYSE:BSX) said today that it paid $40 million for the stake in Securus Medical Group it didn’t already own and sweetened the pot with another $10 million in milestones.
Back in September 2016, the Marlborough, Mass.-based medical device giant participated in a $10 million Series C round for Securus, which makes a thermal body mapping device for use during cardiac ablation procedures. The Cleveland, Ohio-based company also has a facility in Beverly, Mass.
“The acquisition of Securus further broadens our electrophysiology portfolio and fuels our mission to provide physicians with meaningful innovations that advance patient care,” rhythm management president Joe Fitzgerald said in prepared remarks. “Additionally, we look forward to integrating this visual technology with our Rhythmia HDx mapping system to provide a new level of comprehensive cardiac imaging during ablation procedures.”
“In contrast to current standards of care for esophageal temperature monitoring that measure temperature at one or a few fixed locations and have a slow temporal response, this system continuously reads the temperature of the esophagus from thousands of points and provides physicians with an intuitive 360 degree view that refreshes every second,” added Securus president & CEO Steven Girouard. “Further, the system does not require tissue contact for accurate temperature readings, allowing for simplified, one-time positioning of the probe.”
Boston Scientific said it plans to integrate the Securus device, which already has 510(k) clearance from the FDA, into its commercial electrophysiology line during the first half of 2019. The buyout isn’t expected to affect earnings, the company said.
