Boston Scientific acquires thrombectomy specialists for $269M
Boston Scientific has announced that it is acquiring Devoro Medical, a California-based healthcare technology company, in a deal that could be worth up to $336 million. Devoro is primarily known for its WOLF Thrombectomy Platform, which was designed to target and capture blood clots through the use of finger-like prongs that remove thrombi in arteries and veins.
Boston Scientific had already been a strategic investor in Devoro Medical since 2019, holding an equity stake in the company of approximately 16%. The acquisition will include an upfront payment of approximately $269 million for the remaining 84%; up to $67 million could be added to that price if "certain clinical and regulatory milestones" are met.
"The addition of the WOLF platform advances our efforts to ensure physicians have the right tools to improve procedural efficiencies," Jeff Mirviss, executive vice president and president of Boston Scientific's peripheral interventions division, said in a prepared statement. "Clot management remains a core focus of our business, and upon commercialization, this highly differentiated technology will complement and expand our offerings to a full suite of interventional strategies for thromboemboli, which also includes the EkoSonic Endovascular System and the AngioJet Thrombectomy System."
In the same statement, Michael R. Jaff, DO, chief medical officer and vice president of clinical affairs, technology and innovation for Boston Scientific's peripheral interventions division, described the WOLF platform as "a compelling new option for physicians performing thrombectomy procedures."
"We look forward to accelerating the progress of this platform technology so that we help patients who are dealing with these common, yet challenging health conditions," Jaff added.