Boston Scientific enters IVL arms race with acquisition worth up to $664M

Boston Scientific has agreed to acquire Bolt Medical, a California-based medical device company that specializes in intravascular lithotripsy (IVL) technology, for up to $664 million. The deal includes an upfront payment of $443 million and up to $221 million in additional payments based on certain regulatory milestones.

Boston Scientific was a strategic investor in Bolt Medical from the beginning and already owns an equity stake of approximately 26%. This acquisition covers the remaining 74% the company did not already own.

Bolt Medical’s Bolt IVL system works by creating acoustic pressure waves inside of a balloon catheter and then breaking down the calcium. The company is currently celebrating the completion of two separate clinical trials, RESTORE ATK and RESTORE BTK, focused on tracking the system’s safety and effectiveness. Data from both trials will be used to seek approval from the U.S. Food and Drug Administration in addition to gaining CE mark approval.

“Representing one of the fastest growing medical device segments, IVL therapy addresses a significant unmet need for patients with complex calcified arterial disease through a minimally invasive approach,” Lance Bates, senior vice president and president of interventional cardiology therapies with Boston Scientific, said in a statement. “Bolt Medical is developing a next-generation technology that is highly complementary to our existing portfolio. The addition of this system to our offerings can help us better serve physicians and their patients and provides a platform for future innovation.”