Boston Scientific has signed an agreement to acquire US-based firm Apama Medical for around USD 300 million. The deal includes the cash payment of USD 175 million, as well as up to USD 125 million contingent payments based on achievements of clinical and regulatory milestones between 2018 and 2020.
Based in Campbell of California, Apama Medical is engaged in the development of a novel radiofrequency (RF) balloon catheter system to treat atrial fibrillation (AF).
Apama RF balloon is a single-shot and multi-electrode technology designed to aggregate both RF point-by-point and balloon-based ablation approaches to deliver differentiated levels of energy and reduced procedure times.
The novel technology integrates built-in digital cameras with LED lights and sensing electrodes on the balloon to enable real-time visualization and evaluation of catheter electrode contact. It will help physicians to customize the amount of energy delivered around the circumference of the balloon and reduce procedure times. Currently, the Apama RF balloon is being assessed in European clinical studies, which will serve as the basis for CE mark approval expected in late 2018.
Subject to customary closing conditions, the deal is expected to complete in the fourth quarter of this year.
In March this year, Boston Scientific agreed to acquire the Switzerland-based medical technology firm Symetis for around USD 435 million in cash.
Based in Ecublens, Symetis is engaged in the development, producing, and marketing of percutaneous heart valve replacement solutions to treat severe cardiac valve conditions.