Boston Scientific closes its $435 million acquisition of Symetis
In May, Boston Scientific (NYSE:BSX) said it closed its $435 million buyout of Symetis and its line of minimally invasive replacement heart valves.
The buyout, announced in March, halted the 2nd run at an initial public offering by Symetis, which launched the IPO March 20 in a bid to raise up to $66 million (€61.5 million) on the Euronext exchange in Paris. The Ecublens, Switzerland-based company, which acquired Middle Peak Medical and its transcatheter mitral valve implant just last month, spiked its 1st $96 million IPO attempt in September 2015. Symetis employs about 300 workers worldwide.
“Adding the Acurate family of valve products to our structural heart portfolio presents us with the opportunity to provide two distinctly different but complementary TAVI platforms enabling implanting physicians and hospitals to treat the broadest range of patients and aortic valve anatomies,” global CMO Dr. Ian Meredith said in prepared remarks. “This valve offering, along with our left atrial appendage closure device, uniquely position us to advance structural heart solutions for patients while fueling continued growth for the company.”
Boston Scientific said it plans to continue the development of the next-generation Acurate Neo/AS valve, which is in a clinical trial ahead of a bid for CE Mark approval in the European Union. Symetis won CE Mark approval for the Acurate Neo device in 2014
When the deal was announced in March, Boston said the Acurate implant would complement its own Lotus TAVI program.
