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Boston Scientific is buying Cameron Health, a San Clemente medical device company.
Boston Scientific is buying Cameron Health, a San Clemente medical device company.
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Cameron Health Inc., a San Clemente medical device company, is being sold to Massachusetts-based Boston Scientific in a deal that could be worth as much as $1.35 billion.

Cameron Health has developed an implantable heart defibrillator that it says solves some of the problems of traditional devices. Its device, called a subcutaneous implantable defibrillator (S-ICD) system, is a battery-powered electrical pulse generator that is implanted just beneath the patient’s skin.

Kenneth A. Ellenbogen, director of the electrophysiology laboratory at the Medical College of Virginia, said, “The S-ICD System represents a new category of rhythm management devices that is unlike anything available today. This system … should become first-line therapy for patients who may benefit from not having a lead in the heart.”

Boston Scientific has agreed to pay Cameron Health $150 million up front, another $150 million upon FDA approval of the S-ICD System, plus up to $1.05 billion more based on revenue milestones for six years after FDA approval. Boston Scientific said it will fund the payments out of cash flow.

The Cameron Health device has been approved in Europe and has been sold in several European countries since 2009. It has been implanted in more than 1,000 patients worldwide but is not yet available in the United States.

Boston Scientific CEO Hank Kucheman said, “With Cameron, we gain a strong, experienced team of professionals who are pioneers in this novel technology. The acquisition of Cameron Health builds on Boston Scientific’s commitment to introducing innovation in the CRM space and represents an important part of our strategy to generate top-line revenue and market share growth.

“We believe that the S-ICD System represents a breakthrough treatment for patients at risk of sudden cardiac arrest and strengthens our ability to deliver value to physicians, their patients and healthcare systems around the world,” he added.

Kevin Hykes, president and CEO of Cameron Health, said, “The S-ICD System was designed to eliminate the complications associated with transvenous leads, creating an important new treatment option for patients at risk of sudden cardiac arrest… (Joining Boston Scientific) will allow us to expand our commercialization efforts and bring this proven therapy to more patients around the world.

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Contact the writer: 714-96-7927 or jnorman@ocregister.com