Boston Scientific Announces Acquisition of Symetis for $435 Million

Boston Scientific Corporation recently announced an agreement to purchase Swiss medical device maker Symetis SA for $435 million in up-front cash.  The acquisition is expected to close in the second quarter of 2017.

Symetis describes itself as the leading European developer of innovative, minimally invasive heart valve replacement devices. Its transcatheter aortic valve implantation (TAVI) products, ACURATE TA™ and ACURATE neo™, and their delivery systems, are currently marketed and sold in Europe.

The agreement to acquire Symetis follows Boston Scientific’s acquisition of certain Neovasc, Inc. manufacturing assets, which closed in December 2016.  Regarding its acquisition of Symetis, Ian Meredith, M.D., executive vice president and global chief medical officer of Boston Scientific says:

The steps we are taking reflect our commitment to being a leader in TAVI and structural heart technologies now and over the long-term, as we broaden our portfolio and pipeline to address the needs of our global health care providers and their patients.  The ACURATE family of valve products is strongly complementary to our cornerstone Lotus™ valve platform, and this compelling combination of technologies will allow us to provide interventional cardiologists and cardiac surgeons with multiple TAVI offerings for varying patient pathologies and anatomy.

The acquisition also follows Boston Scientific’s recent voluntary recall of its Lotus heart valve devices in February 2017.  As reported by Reuters, Needham & Co analyst Mike Matson said in a client note that “[t]his [acquisition] is an offensive rather than a defensive move and not simply a ‘stop-gap’ to address the Lotus recall, shortcomings with Lotus, or IP issues.”

 

 

Mitch Hadley
Mitchell Hadley is an associate in our San Diego office. His practice involves all aspects of patent prosecution. Prior to joining the firm, Mr. Hadley attended law school at the Brigham Young University, J. Reuben Clark Law School where he graduated magna cum laude and was elected to the Order of the Coif. During law school he served as Lead Note and Comment Editor of the BYU law Review. In 2010, he graduated from Brigham Young University with a B.S. in Mechanical Engineering. Mr. Hadley joined the firm in 2014 after working as summer associate in the firm's San Diego office during the summer of 2013.
Click here to read full bio
View all posts published by Mitch Hadley »

Leave a Reply

By using this blog, you agree and understand that no information is being provided in the context of any attorney-client relationship. You further agree and understand that nothing herein is intended to be legal advice. This blog is solely informational in nature, and is not intended as, and should not be used as, a substitute for competent legal advice from a retained and licensed attorney in your state. Knobbe Martens LLP makes no representations or warranties as to the accuracy, completeness, timeliness or availability of the information in this blog. Knobbe Martens LLP will not be liable for any injury or damages relating to your use of, or access to, any such information. Knobbe Martens LLP undertakes no obligation to correct or update information on this blog, which may be incorrect or become incorrect or out of date over time. Knobbe Martens LLP reserves the right to alter or delete content or information on the blog at any time. This blog contains links and references to other websites and publications that you may find of interest. Knobbe Martens LLP does not control, promote, endorse or otherwise have any affiliation with any other websites or publications unless those websites or publications expressly state such an affiliation. Knobbe Martens LLP further has no responsibility for, and makes no representations regarding, the content, accuracy or any other aspect of the information in such websites or publications.